Specialty Fertilizers Market Report by Fertilizer (Urea-Ammonium Nitrate, Calcium Ammonium Nitrate, Monoammonium Phosphate, Potassium Sulfate, Potassium Nitrate,Others), Crop (Fruits and Vegetables, Commercial Crops, Others), Type (Water Soluble Fertilizers, Micronutrients, Controlled-release Fertilizers, Others), Mode of Application (Fertigation, Foliar, Soil),Country and Company Analysis 2024-2030

Specialty Fertilizers Market Size

Specialty Fertilizers Market Outlooks

Specialty fertilizers are the kind of high-performance agricultural products that provide specific nutrients to plants exactly and efficiently so as to optimize the growth and output of crops. These products are prepared to release the nutrient slowly, in a controlled manner, thus preventing wastage and environmental pollution. Among these, there are such products like water-soluble fertilizers, slow-release fertilizers, and micronutrients, which are formulated for specific soil types, farm conditions, and crop requirements.

Growing in global consumption are specialty fertilizers, which are to be prescribed with agriculture and increasing productivity. As the component for precision farming, these fertilizers have gained preference among farmers to maximize resource usage efficiency while reducing nutrient runoff and soil degradation. The key areas for application of the fertilizers include horticulture, greenhouse crops, and high-value crops such as fruits, vegetables, and ornamentals. Regions with scarce arable land like Asia-Pacific and Europe have become the consumers of specialty fertilizers to enhance the output, and hence, is a critical component in modern agricultural systems across the globe.

 Specialty Fertilizer Growth Factors

More Focus on Sustainable Farming

The rising demand for sustainable agriculture is what is driving this specialty fertilizers market. Rising environmental concerns have made farmers adopt fertilizers that reduce nutrient loss, minimize the adverse effects to the environment, and promote long-term soil health. Specialty fertilizers, including slow-release and controlled-release products, achieve these objectives through efficient uptake by plants, thereby minimizing repetition and pollution. This trend is highly influential in regions that adhere to tight environmental regulations and where organic farming is gaining popularity.

Growing Global Food Demand

The further expansion of the global population is putting significant pressure on food supplies. Such specialized fertilizers enable farmers to yield more crops and of better quality while using fewer resources. Over the years, these fertilizers have proven vital for meeting the world's food needs through improved nutrient availability and uptake, which in turn foster healthier plants and greater productivity per hectare. With scarce arable land, especially in Asia-Pacific and Africa, adopting specialty fertilizers becomes extremely important in terms of boosting food production and food security, which drives the market.

Technological Improvements in Fertilizer Products

The high speed at which fertilizer technology is advancing opens up opportunities in the specialty fertilizers market. New formulations, especially micronutrient-enriched fertilizers and the development of smart fertilizers that release nutrients based on environmental conditions, improve crop nutrition efficiency. Innovations in fertilizer are particularly responsive to specific soil conditions, crop needs, and environmental factors, giving better results. As farmers increasingly seek precision solutions for maximizing yield, these more advanced fertilizers are in increasing demand, further driving expansion in the specialty fertilizers market worldwide.

Specialty Fertilizer Companies Recent Initiatives & Development

CF Industries Holdings

In 2023, CF Industries said that demand for nitrogen fertilizers will remain strong through 2024, especially from India and Brazil.

In 2022, CF Industries said the nitrogen market was pushed to extremes due to the tightest global supply-demand balance in memory.

In 2021, CF Industries said global nitrogen demand was robust, driven by the need to replenish global grain stocks and the economic recovery following the pandemic.

Israel Chemicals

In February 2024, ICL acquired Brazilian biologicals manufacturer Nitro 1000 for about US$ 30 Million, broadening its product range and paving the way for expansion into new markets.

In Oct 2022, ICL revealed a US$ 400 Million plan for the first US lithium iron phosphate (LFP) cathode active material (CAM) plant in St. Louis. Supported by US$ 197 Million from the Bipartisan Infrastructure Law, the plant targets operation by 2024. It will supply high-quality LFP material globally, prioritizing domestic supply chains.

ICL has launched a new biodegradable release technology for open-field agriculture called eqo.x. This technology improves crop performance while reducing environmental impact by curbing nutrient loss and boosting nutrient use efficiency by up to 80%. It allows for higher yields with less fertilizer, reduces nitrogen applications, and delivers consistent nutrient release, marking a transformative shift in controlled-release urea or agriculture. The launch took place in September of 2022.

In August 2022, ICL and Lavie Bio Ltd. are collaborating to revolutionize product discovery and development in life-science industries.

In June 2022, ICL and India Potash Limited (IPL) signed a five-year agreement to supply Polysulphate. The deal covers 1 Million metric tons, with shipments of at least 25,000 tons to be distributed evenly throughout the year. Prices and payment terms are subject to negotiation between IPL and ICL.

In February 2022, ICL Fertilizers launched a knowledge hub to educate growers about the benefits and types of efficient fertilizers.

Yara International ASA 

On May 23, 2023, Yara International unveiled plans to construct one of the world's largest production plants for specialty crop nutrition products and biostimulants, essential for bolstering food security and addressing climate change.

In May 2023, Yara International ASA, a global leader in agricultural products and environmental protection agents, revealed plans for a state-of-the-art production plant to manufacture specialty crop nutrition products and biostimulants. This facility, positioned to be among the world's largest, responds to growing demand for these products vital in ensuring food security and combating climate change.

The Mosaic Company

In 2020, Mosaic initiated a partnership with Anuvia to create Sus-Terra fertilizer, a groundbreaking product designed to enhance soil health. Incorporating up to 15% recycled organic matter, Sus-Terra's unique chemical composition promotes a balanced microbiome. This innovative fertilizer also contains 30% slow-release nitrogen, meeting the EEF designation.

BASF SE

In December 2022, BASF SE and its collaborators released the sixth-year outcomes for 'Pragati,' the pioneering sustainable castor bean initiative.

In 2022, The innovation pipeline spans all business sectors with a peak sales potential exceeding €7.5 Billion. Significant projects will be introduced in the next decade, including top-tier weed control solutions, expanded Revysol® fungicide-based products, and digital farming solutions leveraging xarvio® agronomic intelligence. R&D investment in the Agricultural Solutions segment totaled €944 Million in 2022, around 9% of segment sales.

In 2022, BASF partnered with Boortmalt to aid farmers in reducing CO2e emissions and certify the reduction in malting barley production. The Carbon Farming Program offers tailored solutions from seeds to digital farming tools to decrease greenhouse gas emissions, sequester carbon in the soil, and enhance farm resilience to climate change.

OCI Global

In June 2023, the company partnered with the Institute for Sustainable Process Technology to expedite the advancement and implementation of decarbonization technologies.

In May 2023, the company partnered with NuStar Energy L.P. to transport ammonia to the Midwest region.

In August 2023, OCI Global stood out as a limited ISCC Plus certified producer of low-carbon and renewable ammonia. This ammonia is crucial in OCI's environmentally friendly products, such as Nutramon (a lower-carbon calcium ammonium nitrate) and urea ammonia nitrate.

Specialty Fertilizer Market is projected to register a CAGR of 6.98% from 2024 to 2030

Specialized fertilizers can help grow crop yields with the aid of concentrated on specific growth stages, metabolic features, and the plant's potential to deal with certain stress conditions. These fertilizers include one or more crucial nutrients that plant life need to grow, together with primary, secondary, and micro-nutrients. Plants want about 12 of these critical nutrients to reach their maximum capacity.

Specialty fertilizers differ from commonplace fertilizers like urea, diammonium phosphate (DAP), and muriate of potash (MOP) due to the fact they have got unique properties, are less standardized, and are greater expensive. These varieties of fertilizers are in high demand by producers and distributors due to their unique characteristics. Several factors drive the global specialty fertilizer market, which include the need for higher crops and sustainable agricultural practices. Precision agriculture also contributes to the marketplace's increase because it demands for specialized fertilizers. The growing worldwide populace, the demand for food, and the need for efficient nutrient management are other factors that drive demand for those products. The Global Specialty Fertilizers Market is valued at US$ 32.89 Billion in 2023.

Urea ammonium nitrate (UAN) segment will capture the maximum share in the global specialty fertilizers industry

The fertilizer Specialty Fertilizers Market is divided into Urea-Ammonium Nitrate, Calcium Ammonium Nitrate, Monoammonium Phosphate, Potassium Sulfate, Potassium Nitrate, and others. Specialty fertilizers market is projected to witness widespread increase in the upcoming years, with the Urea Ammonium Nitrate (UAN) sector anticipated to preserve the largest market share. This increase can be attributed to the flexibility and ease of application of UAN, which makes it a famous choice among farmers. UAN is a liquid specialty fertilizer composed of a combination of urea and ammonium nitrate, which offers a balanced blend of nitrogen and ammonium suitable for diverse plants. UAN can be applied either to the soil or as a foliar spray, and it offers several benefits, consisting quick nutrient availability, reduced nutrient losses, and improved nutrient utilization efficiency. UAN is broadly applied in North America, Europe, and Asia and is expected to remain a essential part of the global specialty fertilizers market.

Fruits and Vegetables segment witnessed surge at a rapid rate

By Crop, Specialty Fertilizers Market is segmented into Fruits and Vegetables, Commercial Crops and Others. According to Renub Research analysis, the specialty fertilizers market is expected to grow significantly in the Fruits and Vegetables sector throughout the upcoming years. This thriving growth is attributed to the growing demand for organic food produce and the adoption of advanced farming techniques that require nutrient-wealthy soil. The specialty fertilizers in this category are in particular formulated to cater to the particular nutritional requirements of fruits and vegetables, further improving the produce's growth and high-quality. This trend is anticipated to maintain as increasingly more farmers shift toward sustainable and eco-friendly farming practices.

Water-soluble fertilizer section is a substantial contributor to the specialty fertilizer market

By Type, the Specialty Fertilizers Market is classified into Water Soluble Fertilizers, Micronutrients, Controlled-release Fertilizers, and others. Farmers regularly use water-soluble fertilizers to improve crop first-class and yield. These fertilizers, together with NPK, potassium nitrate, monopotassium phosphate, monoammonium phosphate, and urea phosphate, dissolve easily in water and are normally used for foliar feeding and fertigation in precision agriculture. Water-soluble fertilizers have a low salt index and high use performance, making them in high demand among farmers. They additionally help to resolve issues like nutrient fixation in soil, nutrient immobilization, and nutrient loss because of volatilization, such as nitrogen. The category of water-soluble fertilizers has the best revenue percentage and is predicted to preserve this role in upcoming years.

During the forecast period, the Fertigation Mode of Application sector will preserve the maximum substantial worldwide specialty fertilizers market proportion

By mode of application, the specialty fertilizers market is broken into fertilization, foliar, and soil. The Fertigation Mode of Application segment is poised to dominate the worldwide specialty fertilizers market. This expected leadership underscores the importance of precision and performance in nutrient delivery. Fertigation, making use of fertilizers via irrigation systems, increasingly adopts advanced practices. The prominence of the Fertigation Mode of Application sector displays its pivotal position in assembly the evolving demands of cutting-edge, high-efficiency farming, using the growth and shaping the landscape of the worldwide specialty fertilizers marketplace.

China is expected to experience the rapid expansion in the global specialty fertilizer market during the projected period

By Country, Specialty Fertilizers Market is split into North America (United States, Canada), Europe (Russia, France, Spain, Italy, Germany, United Kingdom, Poland, Netherlands, Ukraine, Other European Countries), Asia Pacific (China, India, Indonesia, Pakistan, Japan, Turkey, Thailand, Bangladesh, Vietnam, Philippines, Korea, Malaysia, Australia, Other Asia-Pacific Countries), South American (Brazil, Mexico, Venezuela, Argentina, Colombia, Peru, Chile, Other South American Countries) Middle East & Africa (Nigeria, Egypt, Ethiopia, Kenya, Saudi Arabia, and other MEA Countries). China is the world's most populous country and the 1/3 biggest by area, with diverse climatic situations, topographies, and soil types.

China is poised to experience the fastest growth within the global specialty fertilizer market in upcoming years. This projection highlights the country’s pivotal role in shaping the industry panorama, driven by increasing agricultural activities, technological improvements, and a growing emphasis on sustainable farming practices. As China continues to play a massive role in worldwide agriculture, its specialty fertilizer market's rapid growth underscores its commitment to improving agricultural productiveness and efficiency, reflecting a broader trend towards innovative and environmentally aware strategies to crop control.

Key Player

CF Industries Holdings Inc, Israel Chemicals, Yara International ASA, Kingenta Ecological Engineering Group Co., Ltd., Nagarjuna Fertilizers and Chemicals Limited, The Mosaic Company, BASF SE, and OCI Global are the distinguished players in the Global Specialty Fertilizer Market.

By Fertilizer Segments market has been covered from 6 viewpoints:

1.    Urea-Ammonium Nitrate
2.    Calcium Ammonium Nitrate
3.    Monoammonium Phosphate
4.    Potassium Sulfate
5.    Potassium Nitrate
6.    Others

By Crop market has been covered from 3 viewpoints:

1.    Fruits and Vegetables
2.    Commercial Crops
3.    Others

By Type market has been covered from 4 viewpoints:

1.    Water Soluble Fertilizers
2.    Micronutrients
3.    Controlled-release Fertilizers
4.    Others

By Mode of Application market has been covered from 3 viewpoints:

1.    Fertigation
2.    Foliar
3.    Soil

Country – This report covers the 40 countries:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    Russia
2.2    France
2.3    Spain
2.4    Italy
2.5    Germany
2.6    United Kingdom
2.7    Poland
2.8    Netherlands
2.9    Ukraine
2.10    Turkey
2.11    Other European Countries

3.    Asia-Pacific

3.1    China
3.2    India
3.3    Indonesia
3.4    Pakistan
3.5    Japan
3.6    Thailand
3.7    Bangladesh
3.8    Vietnam
3.9    Philippines
3.10    Korea
3.11    Malaysia
3.12    Australia
3.13    Other Asia-Pacific Countries

4.    South America

4.1    Brazil
4.2    Mexico
4.3    Venezuela
4.4    Argentina
4.5    Colombia
4.6    Peru
4.7    Chile
4.8    Other South American Countries

5.    Middle East & Africa

5.1    Nigeria
5.2    Egypt
5.3    Ethiopia
5.4    Kenya
5.5    Saudi Arabia
5.6    Other MEA Countries

Company Insights:

•    Overview
•    Recent Development
•    Financial Insight

Companies Covered:

1.    CF Industries Holdings Inc
2.    Israel Chemicals
3.    Yara International ASA
4.    Kingenta Ecological Engineering Group Co., Ltd
5.    Nagarjuna Fertilizers and Chemicals Limited
6.    The Mosaic Company
7.    BASF SE
8.    OCI Global

Report Details: