According to a new market report by Lucintel, the future of the specialty fertilizers market looks promising with opportunities in the cereals & oilseeds, fruits & vegetables, turf & ornamentals, and pulses farming. The specialty fertilizers market is expected to grow with a CAGR of 7% from 2019 to 2024. The major drivers for this market are growing population, increasing demand for food, and growing awareness regarding health.
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In this market, monoammonium phosphate, monopotassium phosphate, potassium nitrate, potassium chloride, potassium sulfate, urea, ammonium nitrate, and phosphoric acid are the major specialty fertilizers. These specialty fertilizers are used in cereals & oilseeds, fruits & vegetables, turf, and ornamentals production. Turf and ornamentals will remain the largest segment. Lucintel predicts that cereals and oilseeds are expected to witness highest growth during forecast period.
North America will remain the largest region and Asia Pacific (APAC) is expected to witness the highest growth over the forecast period due to increasing population, increasing purchasing power, rising health concerns, and growth in environment-friendly agri-inputs.
Yara International, Agrium Inc., Mosaic Company, ICL Fertilizers, Israel Chemical Limited, and Honeywell are among the major manufacturers of specialty fertilizers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the specialty fertilizers market by fertilizer type, crop type, and region. Lucintel has prepared a comprehensive research report titled "Specialty Fertilizers Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the specialty fertilizers market by fertilizer type, crop type, and region as follows:
By Fertilizer Type [$M shipment analysis for 2013 – 2024]:
Water Soluble
Fertilizers
Slow & Controlled Released Fertilizers
Micronutrient & Secondary Nutrient Fertilizers
Bio-stimulant
Fertilizers
Stabilized Fertilizers
By Intermediate Type [$M shipment analysis for 2013 – 2024]:
Monoammonium Phosphate
Monopotassium Phosphate
Potassium Nitrate
Potassium Chloride
Potassium Sulfate
Urea
Ammonium Nitrate
Phosphoric acid
Others
By Crop Type [$M shipment analysis for 2013 – 2024]:
Cereals & Oilseeds
Fruits & Vegetables
Turf & Ornamentals
Others (pulses, sugar crops, fiber crops, and plantation crops)
By Region [$M shipment analysis for 2013 – 2024]:
North America
Europe
Asia Pacific
Rest of the World (RoW)
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/specialty-fertilizers-market.aspx or helpdesk@lucintel.com.
About Lucintel
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