At Absolute Markets Insights, we use both top-down and bottom-up approach for calculating the market estimates and market forecast data. We allocate year-on-year growth rate from 2018 to 2026 and reach to the calculations for the global CAGR. Basically for estimation of the products and applications, usually we follow bottom-up approach, where we track the trends in different regions and their countries.
We track down the growth factors, restraints, rules & regulations and opportunities for each country and its region and finally calculate the global numbers. We first track the growth for the U.S.
and Rest of North America. With these factors we can estimate the growth and trend for North America, similar approach would be taken for Europe, Asia Pacific, Latin America and Middle East & Africa. Finally, through our home grown model we reach to estimation and forecasting of the global numbers.
Our research study is mainly implement through a mix of both secondary and primary research. Various sources such as industry magazines, trade journals, and government websites and trade associations are reviewed for gathering precise data.
Primary interviews are conducted to validate the market size derived from secondary research. Industry experts, major manufacturers and distributors are contacted for further validation purpose on the current market penetration and growth trends.
Prominent participants in our primary research process include:
- Key Opinion Leaders namely the CEOs, CSOs, VPs, purchasing managers, amongst others
- Research and development participants, distributors/suppliers and subject matter experts
Secondary Research includes data extracted from paid data sources:
- One Source
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Specialty fertilizers are the granular fertilizers which enhances the quality of available plant supplements and the chemical and physical attributes of the soil, which directly or indirectly aids in the plant growth, yield, and quality. Specialty fertilizers are successfully used in vegetable crops with well-developed root system and the soil application of the fertilizers effect on rapid improvement of plant nutrition.
They are considered as a source of nutrients after plant growth regulators, herbicides and pesticides to achieve crop productivity. Specialty fertilizers restrict the amount of moisture contact and help gradually release fertilizer nutrients, usually over a few weeks or a few months.
Three main soil supplements required are nitrogen (N), phosphorus (P) and potassium (K). These fertilizer components help in increasing the sturdiness and quality of the horticultural land.
In terms of revenue, the specialty fertilizers market was valued at US$ 16.05 Bn in 2017 and is expected to reach US$ 22.15 Bn by 2022.
Growing acceptance of modern farming is adding to the development of the market. The market participants are putting resources into research and development, which is further boosting the development of the entire industry.
The various initiatives taken by the government of different countries also assists the overall specialty fertilizers market.
It has been reported that the demand for the overall market is expected to witness high growth as compared to conventional fertilizers. Specialty fertilizers require less labor, and provide consistent nutrients to plants.
The nutrients are absorbed by the plants in an adequate amount and thus, the nutrients are utilized by the plants completely. The risk of loss associated with the traditional fertilizers are higher and is available in excess quantity.
However, specialty fertilizers are expensive as compared to the conventional products and have a limited use in the mainstream agriculture. This can impact the growth of the total market growth critically over the future years.
The demand for the specialty fertilizers market keeps on developing as they turn out to be an efficient alternative to regular manures on account of their low impact on the ecosystem, resource-saving, and labor-saving qualities. In addition, rising urban green spaces coupled with high-quality horticultural products along with sporting and recreational arenas especially require special fertilizers to protect the environment.
Such factors has not only aided the global market in recent past but is also anticipated to follow a similar trend over the forecast period.
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Specialty Fertilizers Market, By Crop Type
Based on the crop type, the market is segmented into cereals & oilseeds, fruits & vegetables, and turf & ornamentals among others. Among these, turf & ornamentals segment is dominating the overall market.
Turf & Ornamentals promote better root growth & development and optimize crop yield potential. They facilitate nutrient uptake by plants, which helps improving their performance, quality, and yield.
Specialty Fertilizers Market, By Region
The global specialty fertilizers market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa and Latin America. The Asia Pacific dominates the market and is anticipated to grow at a considerable rate over the forecast period.
Emerging countries such as India and China, are significantly adding to the development of specialty fertilizers. The expansion of Indian economy and increased awareness about the benefits of the fertilizers is expected to assist the demand for these fertilizers.
In India, tomato is grown in an area of 0.87 m ha with the production of 16.83 mt, whereas, in the world, the estimated area under tomato cultivation is 4.50 m ha with a production of 150.50 mt which shows a wide gap between world and Indian productivity. Therefore, specialty fertilizers play a significant role in the Indian tomato productivity due to this wide gap.
The fertilizers are highly water soluble, crop specific fertilizers which contain primary, secondary and micro nutrients along with beneficial elements resulting low salt index. In North America, the U.S. is the major contributor to specialty fertilizers.
Stringent ecological guidelines in the developed economies of North America and Europe limits the market development. Bio-based specialty fertilizer offers immense development opportunity in the regions.
The report provides both, subjective and quantitative research of the market, as well as integrates worthy insights into the rational scenario and favored development methods adopted by the key contenders. The specialty fertilizers market report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players.
The key business strategies such as M&A, affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
Market participants are PotashCorp, The Mosaic Company, EuroChem, CF Industries, Agrium Inc., Israel Chemicals Limited, Coromandel International Limited, Haifa Chemicals ltd., Sinochem Corporation, Sociedad Quimica Y Minera S.A., and Tessenderlo Group, among others.
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