Market Size of specialty fertilizer Industry
| Icons | Lable | Value |
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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.
Understand The Key Trends Shaping This Market
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.
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.
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Specialty Fertilizer Market Size Summary
The global specialty fertilizers market is poised for significant growth, driven by increasing environmental concerns and the adoption of precision agriculture technologies. Specialty fertilizers, which include water-soluble, liquid, and controlled/slow-release types, are gaining traction due to their efficient nutrient delivery and reduced environmental impact. Water-soluble fertilizers are the largest segment, offering even distribution and reduced application rates, while slow-release fertilizers are noted for their environmental safety. The market is characterized by a diverse range of applications, with turf and ornamental crops being the largest segment by crop type, particularly in regions with growing ecotourism and pollution concerns. The United States leads in market adoption, supported by advancements in precision farming.
Regionally, Europe and Asia-Pacific are key players in the specialty fertilizers market, with Europe holding the largest market share. The European market is dominated by field crops, while Asia-Pacific sees significant consumption in field and horticultural crops. The market in South America, particularly Brazil, also shows robust growth. The increasing trend towards micro-irrigation systems and the need for high fertilizer-use efficiency are expected to further propel market expansion. The market is fragmented, with major players like Coromandel International Ltd., EuroChem Group, and Yara International ASA leading the charge. Recent strategic moves, such as acquisitions and new product launches, indicate a dynamic market landscape poised for continued growth.
Specialty Fertilizer Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Speciality Type
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1.1.1 CRF
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1.1.1.1 Polymer Coated
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1.1.1.2 Polymer-Sulfur Coated
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1.1.1.3 Others
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1.1.2 Liquid Fertilizer
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1.1.3 SRF
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1.1.4 Water Soluble
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1.2 Application Mode
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1.2.1 Fertigation
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1.2.2 Foliar
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1.2.3 Soil
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1.3 Crop Type
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1.3.1 Field Crops
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1.3.2 Horticultural Crops
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1.3.3 Turf & Ornamental
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1.4 Region
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1.4.1 Asia-Pacific
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1.4.1.1 Australia
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1.4.1.2 Bangladesh
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1.4.1.3 China
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1.4.1.4 India
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1.4.1.5 Indonesia
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1.4.1.6 Japan
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1.4.1.7 Pakistan
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1.4.1.8 Philippines
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1.4.1.9 Thailand
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1.4.1.10 Vietnam
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1.4.1.11 Rest of Asia-Pacific
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1.4.2 Europe
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1.4.2.1 France
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1.4.2.2 Germany
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1.4.2.3 Italy
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1.4.2.4 Netherlands
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1.4.2.5 Russia
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1.4.2.6 Spain
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1.4.2.7 Ukraine
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1.4.2.8 United Kingdom
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1.4.2.9 Rest of Europe
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1.4.3 Middle East & Africa
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1.4.3.1 Nigeria
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1.4.3.2 Saudi Arabia
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1.4.3.3 South Africa
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1.4.3.4 Turkey
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1.4.3.5 Rest of Middle East & Africa
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1.4.4 North America
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1.4.4.1 Canada
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1.4.4.2 Mexico
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1.4.4.3 United States
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1.4.4.4 Rest of North America
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1.4.5 South America
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1.4.5.1 Argentina
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1.4.5.2 Brazil
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1.4.5.3 Rest of South America
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Specialty Fertilizer Market Size FAQs
How big is the Global Specialty Fertilizer Market?
The Global Specialty Fertilizer Market size is expected to reach USD 43.73 billion in 2024 and grow at a CAGR of 6.14% to reach USD 62.52 billion by 2030.
What is the current Global Specialty Fertilizer Market size?
In 2024, the Global Specialty Fertilizer Market size is expected to reach USD 43.73 billion.
