Specialty Fertilizers Market, Competitive Landscape, Size, Segments, Emerging Technologies and Industry Growth by Forecast to 2027
Research Reports
Jan 18, 2022
Market Overview
MRFR (Market Research Future) anticipates the specialty fertilizers market 2020 to accrue a CAGR of approximately 5.4% over the appraisal period (from 2017 to 2023). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
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Key Players
Some of the highly renowned competitors in the global industry are Haifa Chemicals (Israel), Eurochem (Switzerland), Mosaic Company (U.S.), Atlantic Gold Corp (Canada), Art Wilson Co. (U.S.), Yara International (Norway), Agrium Inc. (Canada), to mention a few.
Market Segment
Type and crop type are the main market segments analyze in the report.
The types of specialty fertilizers market found in the global market include phosphate fertilizers, potash fertilizers, nitrogen fertilizers, and more. Out of these, the biggest market belongs to potash fertilizers, with the highest demand observed by potassium chloride. The nitrogen fertilizers market is also witnessing strong growth and could cover substantial grounds over the coming years.
Some of the key crop types considered in the report are turf & ornamentals, fruits & vegetables, cereals & oilseeds, and others. The turf & ornamentals segment is touted to secure the lead in the global market while the cereal and oilseeds segment can anticipate growth at a decent rate during the conjectured period.
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Regional Analysis
Specialty fertilizers market’s regional study in the MRFR report covers Europe, North America, Asia Pacific or APAC along with RoW/rest of the world.
At present, the APAC market is the global leader and can continue advancing at a rapid pace over the review period. India and China are two of the most populous countries in the world, which ultimately bolsters the food demand, leading to higher need for efficient specialty fertilizers. China is the most lucrative market for specialty fertilizers in the region, while India stands at the second position. The surge in modern agricultural practices and the rising need for high-quality produce remain the top reasons for the strong demand for nitrogenous fertilizers in the region. Some of the most commonly grown crops in the region are sugar beet, rice, vegetables and fruits, grains and cereals, while the consumption of rice in the region comes to 90% of the total production. Countries like China, Korea, Vietnam and Japan extensively use specialty fertilizers per hectare for perennial as well as short-term crops. This translates to massive adoption of specialty fertilizers in the region, and by extension, enhances the market size.
North America remains the second most profitable market for specialty fertilizers but the prevalence of strict environmental norms could be a huge challenge. In the RoW, South America demonstrates the most striking growth, with the rising production of high-value crops, such as orchards, nurseries, seed production and vegetables.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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