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The specialty fertilizers market size has witnessed robust growth in recent years. It will increase from $28.5 billion in 2023 to $30.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%.  The growth in the historic period can be attributed to crop yield optimization, awareness regarding soil health, government support and subsidies, the shift towards precision agriculture, expansion of the horticulture and floriculture sectors, and concerns about environmental sustainability. Looking ahead, the specialty fertilizers market size is expected to see strong growth, reaching $39.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.  This growth is attributed to population growth and food security challenges, emphasis on sustainable agriculture practices, adaptation to climate change, the rise in organic farming practices, and the entry of new players into the market. Major trends in the forecast period include investments in research and development, the adoption of precision farming technologies, advancements in fertilizer production, increased demand for controlled-release fertilizers, and the development of customized fertilizer blends.

The specialty fertilizers market is expected to witness growth driven by an increasing demand for agricultural goods. Agricultural goods, products grown or raised on farms or agricultural land, are in higher demand due to the global population increase. To enhance production levels and provide essential nutrients, specialty fertilizers are applied to plants for specialized activity. According to a report by the Organization for Economic Co-operation and Development, agricultural productivity needs to increase by 28% in the next decade to achieve the zero-hunger target. Additionally, global crop production is estimated to increase by 87% by 2030. This rising demand for agricultural goods is a significant driver behind the growth of the specialty fertilizers market, with market sizes in 2023, 2024, and 2028 influencing the course of this market’s development.

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What Are The Key Trends That Influence Specialty Fertilizers Market Share Analysis?

Technological advancement is a key trend gaining popularity in the specialty fertilizers market. Companies operating in the specialty fertilizers market are adopting new technologies to sustain their position in the market. For instance, in September 2022, ICL Specialty Fertilizers, an Israel-based chemical company that produces sustainable nutrition and plant protection products, introduced Biodegradable Controlled Release Fertilizer (CRF) Technology for coating urea. The technology allows increased yields with reduced fertilizer rates.

Which Market Players Are Driving Growth In The Specialty Fertilizers Market?

Major companies operating in the specialty fertilizers market report are Koch Industries Inc., Nutrien Ltd., Agrium Inc., Yara International ASA, The Mosaic Company, CF Industries Holdings Inc., The OCP Group, EuroChem Group, Sociedad Quimica y Minera SA, Israel Chemicals Ltd. J.R. Simplot Company, K+S Aktiengesellschaft, Wilbur-Ellis Company, Nufarm Canada, Coromandel International Limited, Arab Potash Company, Haldor Topsoe A/S, Compo Expert GmbH, Sinochem Group, Valagro S.p.A., Haifa Group, Helena Agri-Enterprises LLC, Miller Chemical & Fertilizer LLC, Kugler Company, Suståne Natural Fertilizer Inc., Van Iperen International, Greenway Biotech Inc., Daymsa, Heliospectra AB, Sapec Agro S.A., Art Wilson Company, Rural Liquid Fertilisers

How Is The Global Specialty Fertilizers Market Segmented?

The specialty fertilizers market covered in this report is segmented –

1) By Type: Controlled Release Fertilizers, Water Soluble Fertilizers, Agricultural Micronutrients, Customized Fertilizers
2) By Crop: Cereals, Pulses And Oil Seeds, Fruits And Vegetables, Trufs And Ornamentals, Other Crops
3) By Form: Dry, Liquid
4) By Technology: Slow-Release, N-Stabilizers, Coated And Encapsulated, Chelated
5) By Application: Soil, Foliar, Fertigation

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The Specialty Fertilizers Global Market Report 2024 provides an overview of the specialty fertilizersmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The specialty fertilizers market forecast analyzes specialty fertilizers market size, specialty fertilizers market share, leading competitor and their market positions.

The Table Of Content For The Specialty Fertilizers Market Include

1. Specialty Fertilizers Market Executive Summary
2. Specialty Fertilizers Market Segments
3. Specialty Fertilizers Market Size And Template Market Growth Rate
4.  Key Specialty Fertilizers Market Trends
5. Major Specialty Fertilizers Market Drivers
……
25. Key Mergers And Acquisitions In The Specialty Fertilizers Market
26. Top Specialty Fertilizers Companies
27. Specialty Fertilizers Market Opportunities And Strategies
28. Specialty Fertilizers Market, Conclusions And Recommendations
29. Appendix

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