Specialty Fertilizers Market: Global opportunity Analysis and Industry Forecast, 2023-2030 Market

Specialty Fertilizers Market Analysis:

Specialty fertilizers release vital nutrients and control the amount of moisture contact. Furthermore, specialty fertilizers accelerate the uptake of nutrients, minimize feasible loss of nutrients, and decrease the toxicity triggered due to high ionic concentration. Their use will increase the grower’s return, help meet the market demand for high-quality crops, and enable higher margins than the ones usually accomplished with high-volume fertilizers. Numerous specialty fertilizers consist of potassium sulphate, DAP, phosphoric acid, mono-ammonium phosphate, UAN, potassium nitrate, ammonium nitrate, monopotassium phosphate, calcium nitrate, urea, potassium chloride, and ammonium sulphate. They are applicable to cereals & oilseeds, fruits & vegetables, and turf & ornamentals. The market for specialty fertilizers is witnessing robust growth due to accelerated demand for food products and agricultural products in populated countries.

COVID-19 impact analysis

The shortage of labor supply and travel restrictions are the primary factors restricting the agricultural sector growth. This is attributed to the lockdown implemented due to the outbreak of the COVID-19. The non-availability of labor has declined operations in many countries. Rise in labor expenses has led to massive losses and hence has led to rotting of vegetation in the fields. These factors are anticipated to reduce the demand for the specialty fertilizers during the forecast period.

Market scenario analysis

Rise in demand for improved high-performance fertilizers, ease of use & application of specialty fertilizers, and adoption of precision farming & protected agriculture are the key factors, which are projected to drive the growth of the specialty fertilizers market. Change in farming practices and technology leading to growing recognition of modern farming and protected agriculture boost the growth of the specialty fertilizers market. In addition, lack of cultivable land due to factors such as soil erosion and land pollution propel the requirement for specialty fertilizers.

Market drivers

Sustainable agriculture practices are gaining traction across the world; focus is on decreasing the value of farming to be able to meet environmental protection measures. The specialty fertilizers have capability to increase the plant health and productivity, which eventually result in suitable yield of crops, thereby fueling the market growth.

Market restraints

Increase in trend of natural foods is restraining the growth of the market. Inadequate land area and greater yield of crop per acre are the two challenges faced by the farmers. Most of the farmers are unaware about the presence of various kinds of specialty fertilizers. Developing awareness to specific end users acts as a challenge for the market growth.

Regional insights

Geographically, the specialty fertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific dominates the market, and is projected to continue this trend during the forecast period. Growth of the Asia-Pacific is especially attributed to exponential growth of the population, increase in purchasing power, rise in health issues due to harmful pesticides, and alarming increase in prevalence of crop diseases. Surge in demand for natural products in Europe due to stringent government policies against chemical fertilizers boost the market growth for specialty fertilizers within the region. North America is expected to grow significantly during the forecast period.. This growth is attributed to the increased adoption of high-quality crop nutrients products within the region.

Key benefits of the report

• This study presents the analytical depiction of the global specialty fertilizers industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global specialty fertilizers market share.
• The current market is quantitatively analyzed to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global specialty fertilizers market research report:

• Which are the leading market players active in the global specialty fertilizers market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Specialty Fertilizers Market: Global opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights