Specialty Fertilizer Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 43.73 Billion |
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Market Size (2030) | USD 62.52 Billion |
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Largest Share by Speciality Type | Liquid Fertilizer |
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CAGR (2024 - 2030) | 6.14 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Specialty Fertilizer Market Analysis
The Specialty Fertilizer Market size is estimated at 43.73 billion USD in 2024, and is expected to reach 62.52 billion USD by 2030, growing at a CAGR of 6.14% during the forecast period (2024-2030).
43.73 Billion
Market Size in 2024 (USD)
62.52 Billion
Market Size in 2030 (USD)
6.71 %
CAGR (2017-2023)
6.14 %
CAGR (2024-2030)
Largest segment by Speciality Type
51.09 %
value share, Liquid Fertilizer, 2023
The major share of liquid fertilizers is attributed to the growing area under irrigation and increased adoption of liquid fertilizers due to their ease of application.
Fastest Growing Speciality Type
7.70 %
Projected CAGR, CRF, 2024-2030
The factors such as providing sustained and efficient nutrient supply to the plants and fewer nutrient losses are driving the demand for control-release fertilizers.
Largest Segment by Crop Type
7.23 %
Projected CAGR, Horticultural Crops, 2024-2030
Specialty fertilizers dominate the horticulture crop sector, driven by the rise of hydroponics, aquaponics cultivation and the growing adoption of precision farming techniques
Largest segment by Country
31.51 %
value share, China, 2023
China dominates the specialty fertilizer market due to the country’s significant agricultural sector and the demand for advanced fertilizers to enhance crop productivity.
Leading Market Player
13.16 %
market share, Yara International ASA, 2022
Yara International Ltd. is the leading producer of crop nutrition products and solutions. Yara Tera fertilizer line offers water-soluble fertilizer products.
The demand for high nutrient-efficient fertilizers is driving the demand for specialty fertilizers
- In 2022, the global specialty fertilizers market represented approximately 12.0% of the total global fertilizer market, with a valuation of around USD 51.74 billion. Over the study period, the market witnessed a robust growth of 83.8%. This surge can be attributed to the rising environmental concerns, which are anticipated to propel the specialty fertilizer market during 2023-2030.
- Water-soluble fertilizers, constituting roughly 44.6% of the market value, are predominantly dominated by Asia-Pacific and North America. Together, these regions commanded over 70.3% of the global water-soluble fertilizer market in 2022.
- Between 2023 and 2030, the consumption of slow-release fertilizers is projected to witness a notable uptick, with a CAGR of 3.7%. Simultaneously, the market value for these fertilizers is expected to register a CAGR of 6.1%. This shift is driven by farmers and growers recognizing the benefits of slow-release fertilizers in enhancing crop yields and quality while minimizing environmental impact.
- Moreover, there is a discernible shift toward liquid fertilizers, driven by their ease of application, uniform distribution, and cost-effectiveness. These factors are projected to fuel the liquid fertilizer market, with an estimated CAGR of 5.8% during 2023-2030.
- Key drivers for the global specialty fertilizer market in the forecast period include heightened fertilizer-use efficiency, a surge in specialty fertilizer adoption, and an increasing preference for sprinklers or micro-irrigation systems across agricultural lands.
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Asia-Pacific region is the largest market for specialty fertilizers.
- In 2022, Asia-Pacific held the largest share of the specialty fertilizer market, accounting for 45.8% of its total value. Field crops dominated the region's specialty fertilizer consumption, representing 83.5% of the volume. Horticultural crops followed at 13.7%, while turf and ornamental crops lagged behind at under 1%.
- China led the pack in the field crops segment, commanding 43.04% of the specialty fertilizer market's value. India trailed at 17.15%, with Japan at roughly 16.35%, and Indonesia at 5.67%. Australia secured a 4.07% share of the Asia-Pacific specialty fertilizer market in 2022.
- North America emerged as the second-largest specialty fertilizer market globally, capturing 24.8% of its total value, amounting to approximately USD 12.59 billion in 2022. Field crops dominated the North American market, accounting for 86.8% of the consumption, while turf and ornamental crops held a 7.6% share, and horticultural crops claimed 6.2%.
- South America contributed around 18.48% to the global specialty fertilizer market, valued at roughly USD 3.04 billion in 2021. Brazil stood out as the dominant player in the South American market, with its specialty fertilizer market reaching USD 1.75 billion in 2022, and a consumption volume of 2.0 million metric tons.
- The specialty fertilizer market witnessed a consistent growth in volume and value, barring a dip in 2020 due to supply chain disruptions triggered by the COVID-19 pandemic.
- Mounting concerns over fertilizer pollution, stemming from global overuse, are poised to propel the global specialty fertilizer market in the coming years.
Global Specialty Fertilizer Market Trends
Field crops being the staple food across the globe, area under field crops will grow in the coming years.
- The global agricultural sector is facing many challenges. According to the UN, the world population will likely exceed nine billion by 2050. This population growth may overburden the agricultural industry, which is already experiencing an output loss due to a lack of laborers and the shrinkage of agricultural fields caused by rising urbanization. According to the Food and Agriculture Organization, 70% of the global population is expected to live in cities by 2050. Due to the global loss of arable land, farmers now need to utilize more fertilizers to increase crop yields.
- Asia-Pacific is the world's largest producer of agricultural products. Agriculture is critical to the region's economy, as it employs about 20% of the total available workforce. Field crop cultivation dominates the region, accounting for about more than 95% of the total crop area in the region. Rice, wheat, and corn are the major field crops produced in the region, together accounting for about 24.3% of the total crop area in 2022.
- North America is the second-largest arable region of the total agricultural land area in the world. Diverse varieties of crops are grown in North American farms, primarily field crops. As per the USDA, corn, cotton, rice, soybean, and wheat are among the region's dominant field crops. The United States dominated the market by accounting for 46.2% of the total area under crop cultivation in 2022 of the overall North American area under cultivation. Crop acreage in the country fell significantly between 2017 and 2019, primarily due to unfavorable environmental conditions that resulted in heavy floods in areas such as Texas and Houston.
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Among all nutrients, primary nutrients (N, P, and K) have the highest average application rate at 164.3 kg/hectares.
- Corn/maize, rapeseed/canola, cotton, sorghum, rice, wheat, and soybean rank among the primary nutrient-intensive crops globally. The application rates for primary nutrients in these crops were as follows: corn/maize - 230.57 kg/ha, rapeseed/canola - 255.75 kg/ha, cotton - 172.70 kg/ha, sorghum - 158.46 kg/ha, rice - 154.49 kg/ha, wheat - 135.35 kg/ha, and soybean - 120.97 kg/ha. Primary nutrient fertilizers are pivotal for crop growth, facilitating vital plant metabolic processes and aiding in the formation of crucial plant tissues like cells, cell membranes, and chlorophyll. Phosphorus is particularly vital for cultivating high-quality crops, while potassium plays a key role in activating enzymes essential for plant growth.
- The global average application rate for nitrogen, potassium, and phosphorus in field crops stands at 164.31 kg/ha. Nitrogen emerges as the most widely used primary nutrient fertilizer, with an average application rate of 224.6 kg/ha, followed by potassic fertilizers at 150.3 kg/ha. Phosphorus ranks third, with an average application rate of 117.9 kg/ha in 2022.
- In 2022, rapeseed recorded the highest nitrogen application rate at 347.4 kg/ha, while corn/maize led in phosphorus application at 156.3 kg/ha. Canola took the lead in potassium application, with a rate of 248.6 kg/ha. The global cultivation area for field crops is on the rise, with South America and Asia-Pacific witnessing notable growth. These regions are emerging as potential markets for fertilizers. Developed regions like Europe and North America, along with areas grappling with nutrient deficiencies, are increasingly turning to specialty fertilizers for their efficacy. These trends are expected to propel the primary nutrient fertilizers market during 2023-2030.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The expansion of horticulture crop cultivation is driven by growing demand for fruits and vegetables
- Micronutrients help overcome several detrimental effects in vegetable crops.
- A steady supply of sulfur is required from early growth stages until harvest as it is immobile in plants, and any shortage in its supply can limit the yield
- Asia-Pacific occupies the majority of the irrigation area globally, accounting for 66.8% in 2022
- Asia-Pacific accounted for the highest average micronutrient application rate of 5.20 kg/hectare
- Tomatoes stand out among vegetable crops, with an average application rate of 386.36 kg/ha for primary nutrients, surpassing other crops
- Magnesium accounted for the highest average application rate in vegetable crops among the secondary nutrients.
Specialty Fertilizer Industry Overview
The Specialty Fertilizer Market is fragmented, with the top five companies occupying 30.38%. The major players in this market are EuroChem Group, Grupa Azoty S.A. (Compo Expert), Sociedad Quimica y Minera de Chile SA, The Mosaic Company and Yara International ASA (sorted alphabetically).
Specialty Fertilizer Market Leaders
EuroChem Group
Grupa Azoty S.A. (Compo Expert)
Sociedad Quimica y Minera de Chile SA
The Mosaic Company
Yara International ASA
Other important companies include Coromandel International Ltd., Haifa Group, Kingenta Ecological Engineering Group Co., Ltd., Koch Industries Inc., Nutrien Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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Specialty Fertilizer Market News
- March 2022: EuroChem Group has purchased 51.48% of the shares of the Brazilian distributor Fertilizantes Heringer SA, this purchase will further strengthen its production and distribution capacity in Brazil.
- March 2022: The Haifa Group entered into a purchase agreement with HORTICOOP BV to acquire Horticoop Andina, the distributor of nutritional products for agriculture. Through this acquisition of the brand, Haifa intends to expand its market presence in the latin market and strengthen its position as a global superbrand in advanced plant nutrition.
- February 2022: EuroChem Group completes mergers and acquisitions and takes over the Serra do Salitre phosphate project. The value of the deal was USD 452 million and EuroChem will invest a similar amount to fully implement the project.
Free with this Report
Along with the report, We also offer a comprehensive and exhaustive data pack with 25+ graphs on area under cultivation and average application rate per hectare. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
Specialty Fertilizer Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 Acreage Of Major Crop Types
- 4.1.1 Field Crops
- 4.1.2 Horticultural Crops
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4.2 Average Nutrient Application Rates
- 4.2.1 Micronutrients
- 4.2.1.1 Field Crops
- 4.2.1.2 Horticultural Crops
- 4.2.2 Primary Nutrients
- 4.2.2.1 Field Crops
- 4.2.2.2 Horticultural Crops
- 4.2.3 Secondary Macronutrients
- 4.2.3.1 Field Crops
- 4.2.3.2 Horticultural Crops
- 4.3 Agricultural Land Equipped For Irrigation
- 4.4 Regulatory Framework
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Speciality Type
- 5.1.1 CRF
- 5.1.1.1 Polymer Coated
- 5.1.1.2 Polymer-Sulfur Coated
- 5.1.1.3 Others
- 5.1.2 Liquid Fertilizer
- 5.1.3 SRF
- 5.1.4 Water Soluble
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5.2 Application Mode
- 5.2.1 Fertigation
- 5.2.2 Foliar
- 5.2.3 Soil
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5.3 Crop Type
- 5.3.1 Field Crops
- 5.3.2 Horticultural Crops
- 5.3.3 Turf & Ornamental
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5.4 Region
- 5.4.1 Asia-Pacific
- 5.4.1.1 Australia
- 5.4.1.2 Bangladesh
- 5.4.1.3 China
- 5.4.1.4 India
- 5.4.1.5 Indonesia
- 5.4.1.6 Japan
- 5.4.1.7 Pakistan
- 5.4.1.8 Philippines
- 5.4.1.9 Thailand
- 5.4.1.10 Vietnam
- 5.4.1.11 Rest of Asia-Pacific
- 5.4.2 Europe
- 5.4.2.1 France
- 5.4.2.2 Germany
- 5.4.2.3 Italy
- 5.4.2.4 Netherlands
- 5.4.2.5 Russia
- 5.4.2.6 Spain
- 5.4.2.7 Ukraine
- 5.4.2.8 United Kingdom
- 5.4.2.9 Rest of Europe
- 5.4.3 Middle East & Africa
- 5.4.3.1 Nigeria
- 5.4.3.2 Saudi Arabia
- 5.4.3.3 South Africa
- 5.4.3.4 Turkey
- 5.4.3.5 Rest of Middle East & Africa
- 5.4.4 North America
- 5.4.4.1 Canada
- 5.4.4.2 Mexico
- 5.4.4.3 United States
- 5.4.4.4 Rest of North America
- 5.4.5 South America
- 5.4.5.1 Argentina
- 5.4.5.2 Brazil
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Coromandel International Ltd.
- 6.4.2 EuroChem Group
- 6.4.3 Grupa Azoty S.A. (Compo Expert)
- 6.4.4 Haifa Group
- 6.4.5 Kingenta Ecological Engineering Group Co., Ltd.
- 6.4.6 Koch Industries Inc.
- 6.4.7 Nutrien Ltd.
- 6.4.8 Sociedad Quimica y Minera de Chile SA
- 6.4.9 The Mosaic Company
- 6.4.10 Yara International ASA
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 3:
- CONSUMPTION OF MICRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 4:
- CONSUMPTION OF MICRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 5:
- CONSUMPTION OF PRIMARY NUTRIENTS BY FIELD CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 6:
- CONSUMPTION OF PRIMARY NUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 7:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 8:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 9:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, GLOBAL, 2022
- Figure 10:
- SPECIALITY FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 11:
- SPECIALITY FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 12:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 13:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 14:
- FERTILIZER CONSUMPTION VOLUME BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 15:
- FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 16:
- CRF FERTILIZER CONSUMPTION BY COATING TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 17:
- CRF FERTILIZER CONSUMPTION BY COATING TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 18:
- CRF FERTILIZER CONSUMPTION VOLUME BY COATING TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 19:
- CRF FERTILIZER CONSUMPTION VALUE BY COATING TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 20:
- SPECIALITY FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 21:
- SPECIALITY FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, GLOBAL, 2017 - 2030
- Figure 22:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 23:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 24:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 25:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 26:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 27:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 28:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 29:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 30:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 31:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 32:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 33:
- SPECIALITY FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 34:
- SPECIALITY FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 35:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 36:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 37:
- SPECIALITY FERTILIZER CONSUMPTION BY REGION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 38:
- SPECIALITY FERTILIZER CONSUMPTION BY REGION IN USD, GLOBAL, 2017 - 2030
- Figure 39:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 40:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 41:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, ASIA-PACIFIC, 2017 - 2030
- Figure 42:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 43:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 44:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 45:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, EUROPE, 2017 - 2030
- Figure 46:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, EUROPE, 2017 - 2030
- Figure 47:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 48:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 49:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 50:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 51:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 52:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 53:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 54:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, NORTH AMERICA, 2017 - 2030
- Figure 55:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 56:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 57:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 58:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 59:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 60:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 61:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, GLOBAL, 2017 - 2030
- Figure 62:
- GLOBAL SPECIALTY FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 63:
- MARKET SHARE OF MAJOR PLAYERS IN %, GLOBAL, 2022
Specialty Fertilizer Industry Segmentation
CRF, Liquid Fertilizer, SRF, Water Soluble are covered as segments by Speciality Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.
- In 2022, the global specialty fertilizers market represented approximately 12.0% of the total global fertilizer market, with a valuation of around USD 51.74 billion. Over the study period, the market witnessed a robust growth of 83.8%. This surge can be attributed to the rising environmental concerns, which are anticipated to propel the specialty fertilizer market during 2023-2030.
- Water-soluble fertilizers, constituting roughly 44.6% of the market value, are predominantly dominated by Asia-Pacific and North America. Together, these regions commanded over 70.3% of the global water-soluble fertilizer market in 2022.
- Between 2023 and 2030, the consumption of slow-release fertilizers is projected to witness a notable uptick, with a CAGR of 3.7%. Simultaneously, the market value for these fertilizers is expected to register a CAGR of 6.1%. This shift is driven by farmers and growers recognizing the benefits of slow-release fertilizers in enhancing crop yields and quality while minimizing environmental impact.
- Moreover, there is a discernible shift toward liquid fertilizers, driven by their ease of application, uniform distribution, and cost-effectiveness. These factors are projected to fuel the liquid fertilizer market, with an estimated CAGR of 5.8% during 2023-2030.
- Key drivers for the global specialty fertilizer market in the forecast period include heightened fertilizer-use efficiency, a surge in specialty fertilizer adoption, and an increasing preference for sprinklers or micro-irrigation systems across agricultural lands.
| Speciality Type | CRF | Polymer Coated |
| Polymer-Sulfur Coated | ||
| Others | ||
| Speciality Type | Liquid Fertilizer | |
| SRF | ||
| Water Soluble | ||
| Application Mode | Fertigation | |
| Foliar | ||
| Soil | ||
| Crop Type | Field Crops | |
| Horticultural Crops | ||
| Turf & Ornamental | ||
| Region | Asia-Pacific | Australia |
| Bangladesh | ||
| China | ||
| India | ||
| Indonesia | ||
| Japan | ||
| Pakistan | ||
| Philippines | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Region | Europe | France |
| Germany | ||
| Italy | ||
| Netherlands | ||
| Russia | ||
| Spain | ||
| Ukraine | ||
| United Kingdom | ||
| Rest of Europe | ||
| Region | Middle East & Africa | Nigeria |
| Saudi Arabia | ||
| South Africa | ||
| Turkey | ||
| Rest of Middle East & Africa | ||
| Region | North America | Canada |
| Mexico | ||
| United States | ||
| Rest of North America | ||
| Region | South America | Argentina |
| Brazil | ||
| Rest of South America |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - Primary Nutrients: N, P and K, Secondary Macronutrients: Ca, Mg and S, Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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