Specialty Fertilizers Market by Type, Crop Type, Form, Distribution Channel, Application Method

Description

List of Tables

[197 Pages Report] The Specialty Fertilizers Market size was estimated at USD 40.86 billion in 2023 and expected to reach USD 45.43 billion in 2024, at a CAGR 11.28% to reach USD 86.39 billion by 2030.

Specialty fertilizers are a rapidly-growing and diverse group of products with various characteristics containing one or more essential primary, secondary, or micro-nutrients. There are around nearly 12 plant nutrients, including nitrogen (N), phosphorus (P), and potassium (K), which are essential for maximizing plant yield. Although secondary nutrients such as calcium (Ca), magnesium (Mg), sulfur (S) and micronutrients such as iron (Fe), zinc (Zn), manganese (Mn), copper (Cu), boron (B), molybdenum (Mo) are required in smaller quantities than the primary nutrients. Specialty fertilizers are distinct from the commodity fertilizer products, such as urea, diammonium phosphate (DAP), and muriate of potash (MOP) or blends of these with less commoditization and higher unit value. The specialty fertilizer market is progressive with the rising demand due to precision farming technology and protected agriculture that increases the requirement of water-soluble fertilizers, neem-coated urea, fortified fertilizers, and customized fertilizers (CFs). However, the rising prices of micronutrients and customized fertilizers and the limited availability of specialty fertilizer products are challenging for market manufacturers. Additionally, the increasing advancements in specialty fertilizers with novel product launch strategies and supportive government initiatives to ensure sustainable food production by implementing resilient and skilled agricultural practices are promoting the adoption of specialty fertilizers among farmers. Thereby awareness programs for sustainable farming and food security create the opportunity for the market vendors to invest and reach the maximum consumer base.

KEY MARKET STATISTICS
Base Year [2023]	USD 40.86 billion
Estimated Year [2024]	USD 45.43 billion
Forecast Year [2030]	USD 86.39 billion
CAGR (%)	11.28%

Type: Ability of controlled-release fertilizers(CRFs) to provide long-term efficiency and alignment with sustainable farming practices

Controlled-release fertilizers(CRFs) are encapsulated nutrients that are released over a predetermined period, reducing nutrient loss and enhancing nutrient uptake efficiency. They are widely preferred for their ability to provide a consistent nutrient supply, minimizing the environmental impact of leaching. CRFs are especially favored in the agriculture and horticulture sectors for high-value crops and are ideal for scenarios requiring long-term nutrient provision with minimal application frequency. Customized fertilizers are blended to meet the specific nutritional needs of a crop at various growth stages. These fertilizers can significantly optimize nutrient usage and improve crop yields by addressing the precise nutrient requirements that vary across different soils and crops. They are suited for farmers and growers who have precise knowledge of their soil nutrient status and crop nutritional demands. Micronutrient fertilizers provide essential minerals required in smaller quantities, such as zinc, boron, manganese, iron, and molybdenum. These are critical for plant growth, development, and yield optimization and are particularly important in areas where soils are deficient in these nutrients. They are crucial for enhancing crop quality and yield in soils that are deficient in one or more micronutrients. Slow-release fertilizers break down their nutrients slowly over time under the influence of soil moisture and temperature, offering a sustained nutrient supply. This characteristic minimizes nutrient runoff and supports consistent growth over longer periods. They are best suited for applications where a steady nutrient supply is valued over rapid growth spurts, such as in landscaping and some agricultural settings.

Distribution Channel: Growing popularity of online sales channels owing to their convenience and availability of broader product range

Offline distribution refers to traditional, physical channels through which specialty fertilizers are marketed and sold. This includes agricultural supply stores, nurseries, garden centers, and direct sales from manufacturers. Offline channels allow for direct interaction between the consumer and the product, offering the opportunity to seek immediate advice from sales representatives or experts. Moreover, offline distribution can be beneficial for local economies, supporting small businesses and facilitating community relationships between farmers, retailers, and local agricultural experts. On the other hand, online distribution channels have grown significantly in prominence, especially with advancements in digital technology and the increased digitization of the agricultural sector. This channel encompasses sales made through eCommerce platforms, manufacturer websites, and social media channels. Online distribution offers convenience, allowing consumers to research, compare, and purchase specialty fertilizers from the comfort of their own homes or offices. This channel broadens the reach of these products, making them accessible to a larger, potentially global, audience.

Regional Insights

The market for specialty fertilizers is significantly dominating in the North American region due to the increasing trend of using crop-specific fertilizers, rising demand for organic fertilizers due to their environmental advantages over synthetic fertilizers, and growing awareness about sustainable agricultural practices concerning soil health. Additionally, various government initiatives, such as the U.S. Farm Bill 2018 and the grants of USD 29 million issued by the U.S. Department of Agriculture (USDA) in March 2023 for expanding in-house production and conservation efforts on fertilizer products, are also driving the market growth in North America. In Europe, the market for specialty fertilizers can be attributed to an increased focus on sustainable agriculture practices and public policies promoting reduced use of synthetic inputs, such as nitrogenous fertilizers, and organic inputs, such as animal manure or green manure. In Asia-Pacific, the market for specialty fertilizers is progressively growing, primarily attributed to high demand from China and India, which accounts for more than half of the total revenue generated in this region. The high demand for specialty fertilizers due to its large population base, coupled with growing awareness about organic farming techniques among farmers, is driving the growth of the market in APAC. Overall, the increased consumer demand and government initiatives for specialty fertilizers are leading to the significant growth of the specialty fertilizers market across all regions.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Specialty Fertilizers Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Specialty Fertilizers Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Specialty Fertilizers Market, highlighting leading vendors and their innovative profiles. These include Acron Group, AgroLiquid, BASF SE, Bayer AG, Bioceres Crop Solutions Corp., Biomaxnaturals, Brandt, Inc., CF Industries Holdings, Inc., Coromandel International Limited, Deepak Fertilizers and Petrochemicals Corporation Limited, EuroChem Group AG, Grupa Azoty S.A., Gujarat State Fertilizers & Chemicals Ltd., Haifa Negev technologies Ltd., ICL Group Ltd., J.M. Huber Corporation, Jordan Phosphate Mines Co. PLC, K+S Aktiengesellschaft, Kingenta Ecological Engineering Group Co., Ltd., Koch Industries, Inc., Kugler Company, Lallemand Inc., Mitsui & Co., Ltd., Novozymes A/S, Nufarm Ltd., Nutrien Ltd., OCP Group, PhosAgro, Plant Food Company, Inc., ProPHOS Chemicals S.r.l., Rashtriya Chemicals & Fertilizers Ltd., Saudi Basic Industries Corporation, Sinochem Holdings, SQM S.A., The Mosaic Company, Valagro S.P.A, Wesfarmers Ltd., Wilbur-Ellis Holdings, Inc., Yara International ASA, and Zuari Agro Chemicals Ltd..

Market Segmentation & Coverage

This research report categorizes the Specialty Fertilizers Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Controlled Release Fertilizers
- Customized Fertilizers
- Micronutrient Fertilizers
- Slow Release Fertilizers

Crop Type
- Commercial Crops
- Fruits & Vegetables
- Grains & Cereals
- Pulses & Oilseeds

Form
- Flakes
- Liquid
- Powder/Solid

Distribution Channel
- Offline
- Online

Application Method
- Broadcasting/Soil Application
- Fertigation
- Foliar Application

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Specialty Fertilizers Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Specialty Fertilizers Market?

3. What are the technology trends and regulatory frameworks in the Specialty Fertilizers Market?

4. What is the market share of the leading vendors in the Specialty Fertilizers Market?

5. Which modes and strategic moves are suitable for entering the Specialty Fertilizers Market?

Product Code: MRR-587D45787819

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing need for precise and localized application fertilizers to combat nutrient loss
  - 5.1.1.2. Growing environmental concerns promoting the adoption of specialty fertilizers
  - 5.1.1.3. Rapid adoption of precision farming technology and protected agriculture
- 5.1.2. Restraints
  - 5.1.2.1. High price of the micronutrient fertilizer and customized fertilizers
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing advancements in specialty fertilizers with novel product launch strategies
  - 5.1.3.2. Supportive government initiatives to ensure sustainable food production by implementing resilient agricultural practices
- 5.1.4. Challenges
  - 5.1.4.1. Limited awareness and availability of specialty fertilizer
5.2. Market Segmentation Analysis
- 5.2.1. Type: Ability of controlled-release fertilizers(CRFs) to provide long-term efficiency and alignment with sustainable farming practices
- 5.2.2. Distribution Channel: Growing popularity of online sales channels owing to their convenience and availability of broader product range
5.3. Market Trend Analysis
- 5.3.1. Massive investment & funding to promote sustainable and specialty fertilizer production in North American region
- 5.3.2. Rising need for specialty fertilizers supporting the emerging need for sustainable farming and food security
- 5.3.3. Supportive government regulations for sustainable agricultural practices and evolving need for specialty crops across EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis
5.8. Client Customization

6. Specialty Fertilizers Market, by Type

6.1. Introduction
6.2. Controlled Release Fertilizers
6.3. Customized Fertilizers
6.4. Micronutrient Fertilizers
6.5. Slow Release Fertilizers

7. Specialty Fertilizers Market, by Crop Type

7.1. Introduction
7.2. Commercial Crops
7.3. Fruits & Vegetables
7.4. Grains & Cereals
7.5. Pulses & Oilseeds

8. Specialty Fertilizers Market, by Form

8.1. Introduction
8.2. Flakes
8.3. Liquid
8.4. Powder/Solid

9. Specialty Fertilizers Market, by Distribution Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. Specialty Fertilizers Market, by Application Method

10.1. Introduction
10.2. Broadcasting/Soil Application
10.3. Fertigation
10.4. Foliar Application

11. Americas Specialty Fertilizers Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Specialty Fertilizers Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Specialty Fertilizers Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Yara to Build New Global Plant for Specialty Fertilizers and Biostimulants
- 14.3.2. OCP Group Finalizes Acquisition of its 50% Stake in Spanish Company GlobalFeed S.L
- 14.3.3. CF Industries and CHS Inc. Working on Production and Distribution of Low-Carbon Nitrogen Fertilizer.
- 14.3.4. Ostara and Taurus Agricultural Marketing Announce New Long-Term Partnership.
- 14.3.5. SQM Introduces its Latest Innovation for the Agricultural Industry: A Revolutionary Product that Results in Higher Yielding, Better Quality Crops
- 14.3.6. Coromandel Preps For New Businesses, Plans to Invest Rs 1,000 Cr (USD 120.98 Million) In 2 Years.
- 14.3.7. The Andersons Announces Launch of MicroMark DG, a new line of Granular Micronutrient Solutions
- 14.3.8. Fertiliser Majors Sign MoUs with Morocco's OCP Group for 1.7 MT Import of Soil Nutrients.
- 14.3.9. SoilGenic Technologies Launches New Inhibitor Product for Nitrogen Fertilizers.
- 14.3.10. J.M. Huber Corporation Closes Acquisition of the Biolchim Group.
- 14.3.11. India's Fertilizer Partnerships With Global Suppliers To Address International Cartelisation.
- 14.3.12. Govt. of India Grants Patent to IFFCO for Nano Urea & Nano DAP

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio