0
0
Read Time:2 Minute, 50 Second
Meticulous Research®, a premier global market research organization, has released a detailed report titled “Specialty Fertilizers Market Size, Share, Forecast, & Trends Analysis by Type (Slow-release {Sulfur-coated Urea}, Controlled-release Fertilizer, Micronutrients), Form (Dry), Mode of Application (Fertigation), Crop Type (Cereals & Grains) – Forecast to 2031.” This report projects that the specialty fertilizers market will reach $46.83 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
>> Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=566
The growth of the specialty fertilizers market is primarily driven by the diminishing availability of arable land, the increasing demand for food due to population growth, rising environmental concerns, and supportive government policies. However, high production costs remain a significant barrier to market expansion.
One promising aspect of this market is the increasing adoption of precision farming technologies, which presents growth opportunities. Nevertheless, a lack of awareness among farmers about these technologies poses a challenge for stakeholders. Additionally, the integration of nanotechnology in agriculture is emerging as a key trend.
>> Browse in Depth: https://www.meticulousresearch.com/product/specialty-fertilizers-market-5667
Market Segmentation and Insights
The specialty fertilizers market is segmented by various factors, including type, form, mode of application, crop type, and geography.
- Type: This includes specialty NPK fertilizers, slow-release fertilizers (like sulfur-coated urea), controlled-release fertilizers, agricultural micronutrients, and other fertilizers. In 2024, specialty NPK fertilizers are expected to dominate the market with a share of 60.9%. This growth is fueled by the need for improved crop yields and soil fertility, alongside rising government support for specialty fertilizers.
- Form: The market is divided into dry and liquid specialty fertilizers. Dry specialty fertilizers are projected to hold the largest share (85.9%) in 2024, driven by their cost-effectiveness, ease of application, and long shelf life.
- Mode of Application: This segment encompasses fertigation, soil application, and foliar spray. The fertigation segment is anticipated to capture the largest market share (43.5%) due to the growing adoption of drip irrigation systems and the increasing availability of water-soluble fertilizers.
- Crop Type: The market includes cereals & grains, fruits & vegetables, oilseeds & pulses, and others. The cereals & grains segment is expected to account for 50.7% of the market share in 2024, driven by high demand for staple food products and significant production areas dedicated to crops like wheat, rice, and maize.
>> Request for Customization Report: https://www.meticulousresearch.com/request-customization/cp_id=5667
Geographic Insights
The report analyzes major geographic regions, providing insights into Asia-Pacific (including China, India, and Japan), Europe (including Germany, the U.K., and France), North America (the U.S. and Canada), Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is predicted to dominate the specialty fertilizers market, accounting for 57.4% of the share, driven by the presence of leading suppliers, extensive agricultural production areas, and increasing demand for high-yield crops.
Key Players
The specialty fertilizers market is characterized by competition among various global, regional, and local players. Key companies include Nutrien Ltd. (Canada), Coromandel International Limited (India), Yara International ASA (Norway), and Haifa Group (Israel). These players are crucial in shaping market dynamics and trends.
>> Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5667
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %