Effective utilization of fertilizers to drive the growth of the global specialty fertilizer market in the forecast period, 2022-2027. According to TechSci Research report, “Specialty Fertilizers Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2027”, the global specialty fertilizers market has the potential to project an impressive CAGR in the forecast period, 2022-2027, on account of increasing advancement in the agriculture industry.
The Important Factors of the Global Specialty Fertilizers Market
Surging demand for more favorable and environmentally non-toxic fertilizers is anticipated to drive the growth of the global specialty fertilizer market in the upcoming five years.
Increasing approaches to enhance the yield of crops are further supporting the growth of the global specialty fertilizer market in the next five years. Moreover, the surging demand for organic products among the population is also substantiating the growth of the global specialty fertilizers market in the future five years. Increasing the import and export culture of the crops among countries is further anticipated to aid the growth of the global specialty fertilizer market in the forecast years until 2027.
Furthermore, advancing research and technological development is further aiding the growth of the global specialty fertilizers market in the forecast period.
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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. Cereals & grains are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing demands for food crops.
The rapidly increasing global population is further aiding the growth of the global specialty fertilizer market in the next five years. Moreover, the exportation of cereals and grains to developing countries is increasing. Various developing countries are struggling due to scarcity of food and thus import cereals and grains from the major economies. Increasing instances of import-export of cereal and grains further substantiate the market growth.
Turf & ornamental crops are expected to register significant growth in the next five years owing to the increasing demand for such plants from urban developments. Increasing demand for indoor farming is further aiding the growth of the sub-segment as well as the growth of the global specialty fertilizers market in the forecast years.
Some of the market players dominating the global market are:
- 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
Along with new market entrants, these market players are focused on extensive research and bringing innovative and advanced products. Technologically advanced manufacturing of specialty fertilizers would aid in decreasing the cost of production and assist the players in managing their investments. Moreover, government and private funding initiatives would indirectly support the global specialty fertilizer market growth.
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“Asia Pacific region is expected to hold the largest revenue share and dominate in the upcoming five years on account of countries dependent on the agriculture sector. Countries like India, China, and Japan are highly dependent on their agriculture industry and higher yields of crops. Moreover, rising innovations in the agriculture sector in these countries are anticipated to further support the growth of the global specialty fertilizer market in the next five years. Additionally, increased government support and favorable schemes to promote specialty fertilizer’s advantage so that the user is more increased are aiding the growth of the global specialty fertilizers market in the forecast years. The European region is anticipated to register significant growth in the next five years on the backbone of increasing demands for organic food and products. Also, due to increased horticultural crop production, the global specialty fertilizer market is anticipated to grow in the forecast period until 2027. New market players are advised to undergo research procedures to understand the demand of consumers and conduct extended research and advanced product development such that they can gain brand establishment.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Specialty Fertilizers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2016-2027 Segmented By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf & Ornamentals, Others), By Form (Dry v/s Liquid), By Mode of Application (Foliar, Fertigation, Soil), By Technology (Slow-Release, N-Stabilizers, Coated & Encapsulated, Chelated, Others), By Region”, has evaluated the future growth potential of global specialty fertilizers and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global specialty fertilizer market.
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