Emergen Research latest document, titled ‘Global Specialty Fertilizers Market - Forecast to 2027,’ is one of the most sought-after market reports involving an in-depth analysis of the global Specialty Fertilizers market. The report’s authors have offered necessary details on the latest Specialty Fertilizers market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Specialty Fertilizers industry entails useful insights into the estimated Specialty Fertilizers market size, revenue share, and sales distribution network such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future
Ability of controlled release fertilizers to deliver the required amount of nutrients to plants regardless of weather conditions is driving demand for controlled release fertilizers. Lower application costs of controlled release fertilizers compared to water-soluble fertilizers is another factor contributing to its increasing utilization. The incorporation of controlled release fertilizer reduces labor costs, by eliminating the need to manually mix and monitor water-soluble fertilizers, and also reduces need for expensive injection equipment. Usage of controlled release fertilizers also eliminates chances of improper mixing of water-soluble fertilizer in the stock solution, which helps in enhancement of crop quality.
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Some Key Highlights from the Report
In February 2020, ICL, which is a leading special chemicals and specialty minerals company announced the acquisition of Growers Holdings, Inc., which is an innovator in the field of process and data-driven farming. With this acquisition, ICL will further enhance its digital service offering and accelerate its global development road map.
Water-soluble fertilizers segment accounted for largest revenue share in 2020. Farmers are increasingly adopting highly water-soluble fertilizers as these enable enhancement of yield and quality parameters of crops and eliminate problems such as nutrient fixation in soil, immobilization of nutrients, and volatilization loss nutrient like nitrogen.
Fruits and vegetables segment revenue is expected to expand at a rapid CAGR during the forecast period. Specialty fertilizers such as micronutrient fertilizers are increasingly being utilized to enhance quality and quantity of organic fruits and vegetables.
Asia Pacific registered fastest revenue growth rate as compared to other regional markets in the global specialty fertilizers market in 2020. Increasing government initiatives encouraging adoption of sustainable farming practices to enhance crop productivity and reduce environmental impact is expected to boost growth of the specialty fertilizers market during the forecast period.
Major players in the market include Nutrien, LTD., Yara International ASA, ICL Group Ltd., K+S AG, Sociedad Química y Minera de Chile (SQM), The Mosaic Company, EuroChem Group AG, CF Industries Holdings, Inc., Nufarm, and OCI Nitrogen.
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Segmental Analysis
The global Specialty Fertilizers market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Specialty Fertilizers sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global specialty fertilizers market on the basis of type, crop type, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Micronutrient Fertilizers
- Slow Release Fertilizers
- Controlled Release Fertilizers
- Customized Fertilizers
- Water-soluble Fertilizers
- Others
Crop Type Outlook (Revenue, USD Billion; 2018–2028)
- Pulses and Oilseeds
- Grains and Cereals
- Commercial Crops
- Fruits and Vegetables
- Others
Regional Analysis of the Specialty Fertilizers Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Rapid Business Growth Factors
In addition, the market is growing at a fast pace and the report shows us that there are a couple of key factors behind that. The most important factor that’s helping the market grow faster than usual is the tough competition.
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