Russia Specialty Fertilizer Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Russia Specialty Fertilizer Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Russia Specialty Fertilizer Market is projected to register a CAGR of 3.93%

Key Highlights

• Largest segment by Speciality Type - Water Soluble : They provide wide-range of nutrient grades and different methods of application available such as foliar, fertigation and soil application depending on requirement.
• Fastest growing by Speciality Type - SRF : Slow Release Fertilizers are affective in constant nutrient supply to plants.Single application can provide nutrition to the crop throughout the season based on climate.
• Largest Segment by Crop Type - Horticultural Crops : horticulture crops are cultivated year-round and have better irrigation systems like sprinkler and drip irrigation, which continue to require specialty fertilizers.
• Largest segment by Application Mode - Fertigation : It has numerous advantages like increased fertilizer absorption, reduced wastage and nutrient losses, reduce labor costs, and easiness of fertilizer application.

Key Market TrendsWater Soluble is the largest segment by Speciality Type.

• The water-soluble fertilizer market in Russia was valued at USD 935.6 million in 2021, with a volume of 1.4 million metric tons. Water-soluble fertilizers were the largest consumed specialty fertilizers in terms of volume and occupied a share of 55.0% in 2021.
• However, water-soluble fertilizers accounted for a share of 54.0% in terms of value in the same year due to a difference in the price of liquid and water-soluble fertilizers in the country. For instance, in 2022, the price of liquid diammonium phosphate (DAP) in Russia was estimated at USD 4,775.0 per metric ton compared to USD 4,756.0 per metric ton of water-soluble DAP fertilizer in the same year.
• Russia is the second-largest market for the consumption of liquid fertilizers in the region, accounting for a share of 8.0% of the total liquid fertilizer market in Europe. The country consumed 1.1 million metric tons of liquid fertilizers worth USD 740.6 million in 2021.
• The controlled-release fertilizer market observed stable growth during the study period. Field crops dominated the market by occupying a share of 91.4%, followed by horticultural crops in 2021.
• The slow-release fertilizer market in Russia was valued at USD 21.4 million in 2022, with a volume of 24.5 thousand metric tons. The market is projected to record a value of USD 27.9 million by 2028 due to the economic and ecological benefits of slow-release fertilizers.
• Owing to the advantages of using specialty fertilizers, like a decreased rate of application, the precise release of nutrients, and other economic benefits to the farmer, the specialty fertilizer market in Russia is anticipated to grow during the forecast period.

Competitive Landscape

The Russia Specialty Fertilizer Market is fairly consolidated, with the top five companies occupying 66.86%. The major players in this market are EuroChem Group, ICL Speciality Fertilizers, PhosAgro Group of Companies, Trade Corporation International and Valagro (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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