According to the latest report, a value of nearly US$14,734.4 mn is estimated to be achieved by the Global Specialty Fertilizers Market by the end of 2025. The report titled “Specialty Fertilizers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025” has recently been submitted to the database of Market Research Reports Search Engine (MRRSE) which completely focuses on analyzing past trends and future prospects of global specialty fertilizers market from 2017 to 2025. The global specialty fertilizers market is projected to increase at a CAGR of 5.7% through 2025.
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According to the report, the demand for specialty fertilizers around the globe is gaining traction on account of rising demand for food products. The global population is increasing at a brisk pace, and farm owners around the world will need to take in transformative measures to cater to the burgeoning demand. In addition to these macroeconomic factors, the demand for specialty fertilizers is also influenced by their advantages of conventional fertilizers. Research and development on developing the next-generation of specialty fertilizers are also likely to promote growth of the market during the assessment period.
The exhaustive report has divided the global market into certain segments and sub-segments for in-depth analysis and these segments are type, crop type, compound and region. The type segment is further sub-segmented into controlled release fertilizers, slow release fertilizers, micro nutrient fertilizers, nutrition and urease inhibitors and others. By crop type segment, the global market is categorized into cereals & oilseeds, fruits & vegetables, turf & ornamentals and others. On the basis of compound segment, the global market has been bifurcated into potash compounds, phosphate compounds, nitrogen compounds and NPK compounds. Region wise, the global market is divided into key regions which are North America, Europe, Latin America, Asia Pacific and Middle East and Africa.
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North America, along with Asia Pacific are among the leading markets for specialty fertilizers around the globe. In North America, the demand for specialty fertilizers is influenced by growing emphasis on achieving high-quality products. On the other hand, growing population in emerging economies of China and India has necessitated use of those fertilizers that offer higher yield per hectare. These factors are likely to provide an impetus to the growth of the market during the assessment period.
Some of the major companies are Coromandel International Limited, Sinochem Group, K+S Aktiengesellschaft, Agrium Inc., Haifa Chemicals Ltd., Yara International ASA, EuroChem Group AG, The Mosaic Company, CF Industries Holdings, Inc., Potash Corporation of Saskatchewan Inc., Israel Chemicals Limited and Sociedad Quimica Y Minera de Chile.
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