Lucintel’s latest market report analyzed that specialty fertilizer provides attractive opportunities in farming of cereals & grains, oilseeds & pulses, and fruits & vegetables. The specialty fertilizer market is expected to grow at a CAGR of 5%-7%. In this market, fertigation are the largest segment by application, whereas fruits & vegetables are largest by crop type.
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Based on application, the specialty fertilizer market is segmented into soil, foliar, and fertigation. The fertigation segment accounted for the largest share of the market in 2020 as it requires less labor, time, energy, and water.
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The specialty fertilizer market is marked by the presence of several big and small players. Some of the prominent players offering specialty fertilizer include Nutrien, Yara International, Israel Chemical, K+S Aktiengesellschaft, Sociedad Química Y Minera De Chile, The Mosaic, EuroChem, CF Industries, OCP, OCI Nitrogen.
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