Specialty Fertilizers Market by Type (Controlled Release Fertilizers, Customized Fertilizers, Micronutrient Fertilizers), Crop Type (Commercial Crops, Fruits & Vegetables, Grains & Cereals), Form, Distribution Channel, Application Method - Global Forecast 2024-2030
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.
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.
Market Insights
Market Dynamics
The market dynamics represent an ever-changing landscape of the Specialty Fertilizers Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
Increasing need for precise and localized application fertilizers to combat nutrient loss
Growing environmental concerns promoting the adoption of specialty fertilizers
Rapid adoption of precision farming technology and protected agriculture
Market Restraints
High price of the micronutrient fertilizer and customized fertilizers
Market Opportunities
Ongoing advancements in specialty fertilizers with novel product launch strategies
Supportive government initiatives to ensure sustainable food production by implementing resilient agricultural practices
Market Challenges
Limited awareness and availability of specialty fertilizer
Market Segmentation Analysis
Type: Ability of controlled-release fertilizers(CRFs) to provide long-term efficiency and alignment with sustainable farming practices
Distribution Channel: Growing popularity of online sales channels owing to their convenience and availability of broader product range
Market Disruption Analysis
Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Specialty Fertilizers Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Specialty Fertilizers Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Yara to Build New Global Plant for Specialty Fertilizers and Biostimulants
Yara International ASA, producer of specialty fertilizers and biostimulants, announced plans to build a new global plant in Brazil. This new facility can help meet the growing demand for their products from more than 80 countries worldwide. The innovative technology employed by Yara helps farmers increase yield, reduce environmental impact, and practice sustainable agriculture through the use of tailored plant nutrition solutions. This new plant is expected to sustainably revolutionize the agriculture industry with its state-of-the-art capabilities and can potentially be the start of a greener future for food production.
OCP Group Finalizes Acquisition of its 50% Stake in Spanish Company GlobalFeed S.L
The OCP Group, a fertilizer producer headquartered in Morocco, completed the acquisition of its 50% stake in the Spanish company GlobalFeed SL. Through this acquisition, OCP has expanded its leadership position as a key provider of specialty fertilizers to the global market. This move is expected to strengthen their existing relationships with customers and increase their competitive advantage.
CF Industries and CHS Inc. Working on Production and Distribution of Low-Carbon Nitrogen Fertilizer.
By utilizing low-carbon nitrogen technology, CHS Inc. is able to reduce emissions and produce more efficient fertilizers with greater yields. This environmentally friendly process can help farmers reduce their own carbon footprint while increasing crop production at the same time. CHS's innovative approach to nitrogen fertilizer production is revolutionizing the industry by providing a sustainable solution that benefits both the environment and agricultural productivity.
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Specialty Fertilizers Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
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
Please Note: PDF & Excel + Online Access - 1 Year
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