Dublin, May 06, 2022 (GLOBE NEWSWIRE) -- The "Global Specialty Fertilizers Market, By Crop Type, By Form, By Mode of Application, By Technology, By Region, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
Global specialty fertilizers market is anticipated to grow at a formidable CAGR during the forecast period, 2023-2027. Technological advancements in the agriculture sector and rising demands for enhanced high-efficiency fertilizers are propelling the growth of the global specialty fertilizers market. Specialty fertilizers are used to condition soils and plants to achieve results like enhanced crop yield while preventing the toxification of soil due to over fertilization.
Besides, the rising adoption of precision farming practices and enhanced focus on sustainable agriculture are some of the factors driving the growth of the global specialty fertilizers market. Additionally, increasing demand for organic fruits & vegetables with minimal use of fertilizers is also fueling the demand for specialty fertilizers.
Furthermore, increasing innovation in the crop nutrition industry and high demand for high-efficiency nutrition products for crop growth is expected to drive the global specialty fertilizers market in the coming years. Growing demand for higher-yielding crops to feed the rapidly increasing global population is also contributing to the growth of the global specialty fertilizers market. Market players are increasingly investing in developing new products that are safer and more efficient, which is expected to drive the growth of the global specialty fertilizers market in the coming years.
The increased environmental consciousness has led to greater adoption of organic fertilizers to enhance crop growth and protect crops against environmental harm, which is supporting the growth of the global specialty fertilizers market. The high cost of production of specialty fertilizers due to complex production processes and the low rate of adoption of controlled-release technology might hinder the growth of the global specialty fertilizer market. Besides, farmers rely on conventional fertilizers due to their belief in high crop returns, which discourages farmers from adopting specialty fertilizers, which could pose a challenge for the growth of the global specialty fertilizers market.
The global specialty fertilizers market is segmented on the basis of crop type, form, mode of application, technology, competitional landscape, and regional distribution. Based on crop type, the market is further fragmented into cereals & grains, oilseeds & pulses, fruits & vegetables, turf & ornamentals, and others. The fruits & vegetable segment is expected to register the fastest growth in the global specialty fertilizers market owing to the increasing trend of consuming fruits due to increased health consciousness.
Major players operating in the global specialty fertilizers market include Nutrien, Ltd., Yara International ASA, Israel Chemical Ltd., K+S Aktiengesellschaft, The Mosaic Company, CF Industries Holdings, Inc., EuroChem Group, Deepak Fertilizers & Petrochemicals Corporation Ltd., Coromandel International Ltd, Plant Food Company, Inc., Haifa Group, OCP Group, OCI Nitrogen, Wilbur-Ellis Company Inc., COMPO Expert GmbH, among others.
Years Considered for This Report: