GVR Report cover Specialty Fertilizers Market Size, Share & Trends Report

Specialty Fertilizers Market Size, Share & Trends Analysis Report By Technology (Liquid Fertilizers, Micronutrients), By Crop Type (Cereals & Grains, Fruits & Vegetables), By Type, By Application, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68040-230-4
  • Number of Pages: 81
  • Format: Electronic (PDF)

Specialty Fertilizers Market Size & Trends

The global specialty fertilizers market size was estimated at USD 36.2 billion in 2023 and is projected to grow at a CAGR of 5.7% from 2024 to 2030. The dry segment is projected to hold the largest market share in the market. This is primarily due to the increasing use of controlled-release and slow-release fertilizers and the ease of application and high effectiveness of dry specialty fertilizers.

China Specialty Fertilizers  market size and growth rate, 2024 - 2030

In addition, dry specialty fertilizers are cost-effective, have a longer shelf life, provide long-term nutrient release, and perform well in all weather conditions, making them more efficient than their alternatives.

The market is primarily driven by factors such as the increasing demand for high-quality crops, the growing need for sustainable agricultural practices, and the adoption of precision agriculture techniques, which require specialized fertilizers. The high nutrient use efficiency and precise & localized application associated with specialty fertilizers are expected to significantly drive the market in terms of value sales.

Controlled-release fertilizers (CRF) are set to dominate the market the market. The CRFs work by gradually releasing nutrients to meet the changing demands of crops throughout their growth cycle. These consist of water-soluble nutrients encased within a polymer coating, forming granules. When applied to the soil, the polymer coating allows moisture to penetrate, initiating the release of nutrients. The rate of release is influenced by soil temperature, and the nutrients are released back into the rooting zone for plant uptake over an extended period. This controlled release helps maximize nutrient use efficiency, minimize environmental concerns, and provide plants with a more uniform and sustained supply of nutrients.

Market Concentration & Characteristics

The specialty market is fragmented with the presence of a large number of manufacturers. Specialty fertilizers come in various forms, such as controlled-release, water-soluble, micronutrient, and customized fertilizers, each catering to specific crop and soil needs. The market is driven by technological advancements, such as precision agriculture and fertigation, which require specialized fertilizers. The adoption of sustainable agriculture practices and precision farming techniques is driving the demand for the market.

Specialty Fertilizers Market Concentration & Characteristics

The end-use concentration of specialty fertilizers in the market is influenced by various factors such as the type of crop, the application method, and the technology used. The products are tailored to specific crop types, including cereals & grains, fruits & vegetables, oilseeds & pulses, and turf & ornamentals. They are available in different forms such as controlled-release, water-soluble, and liquid fertilizers. The application methods include fertigation, foliar application, and soil application.

Technology Insights

Based on technology, the controlled-release fertilizers segment dominated the market in 2023 on account of the rising need for highly efficient fertilizers, growing global population, increasing application rates in developing countries, and increasing demand for high-value crops. Nutrient loss to the environment is a major concern for farmers worldwide, and CRF helps reduce nutrient loss and improve nutrient use efficiency. The market is also driven by the need for sustainable farming practices, technological advancements, and government support. The market is segmented by type, end-use, and application method, with North America and Asia-Pacific being the major markets.

The water soluble fertilizers segment is expected to grow at a significant CAGR over the forecast period. The need for sustainable agriculture practices, and the rising global population. Water-soluble fertilizers are multi-compound and can dissolve in liquid, making them easily applied by fertigation or foliar application. They are primarily used to control the number of times nutrients are provided to plants, leading to improved crop yields and overall plant health. The market is segmented by type, application, crop type, and region, with the Asia-Pacific region dominating the market. The market is highly competitive, with several key players dominating the market.

Type Insights

Based on type, the urea ammonium nitrate (UAN) fertilizer segment is expected to dominate the market attributable to several factors, including its balanced nutrient content, high application efficiency, and versatility, making it a popular choice among farmers. UAN is a liquid type composed of a combination of urea and ammonium nitrate, providing prolonged nutrition to plants with high nitrogen availability. Its widespread use in various climatic zones, including dry climates, further contributes to its market dominance. In addition, the reduction of residual soil nitrogen due to UAN application is driving its market growth.

The micronutrient fertilizers segment is expected to grow at the fastest CAGR during the forecast period, due to the increasing demand for high-efficiency fertilizers that address specific nutrient deficiencies in soils. These are used to supply essential nutrients such as zinc, boron, and molybdenum, which are often deficient in agricultural soils. The growing adoption of precision agriculture and the need for sustainable agriculture practices are driving the demand for micronutrient fertilizers.

Crop Type Insights

Based on crop, the fruits & vegetables segment accounted for the largest market revenue share in 2023. Specialty fertilizers are commonly used in fruit and vegetable production. Two types are slow-release fertilizers (SRFs), such as methylene urea (MU), and CRFs. Potassium nitrate is also widely used to improve the quality and yield of fruits, nuts, horticulture crops, and flowering plants. For fruit trees, potassium chloride is the most commonly used source of potassium. Fast-release fertilizers containing nitrogen in nitrate, ammoniacal, and urea are commonly used for vegetables. However, SRFs are preferred for long-term vegetable production as they minimize nutrient losses and help maintain soil fertility.

The cereals and grains segment is also expected to grow at a significant CAGR during the forecast period. Specialized fertilizers that cater to the specific nutrient requirements of cereals and grains are becoming increasingly popular. This trend is directly related to the need for sustainable food production to feed a growing population and ensure food security. Cereals and grains are crucial for food consumption and have numerous industrial applications, which further contribute to their high demand. The production of cereals and grains is influenced by various cultural, environmental, and economic factors, adding to their demand. Cereals and grains are staple foods in many parts of the world, which leads to sustained demand and market growth.

Application Insights

Based on application, the fertigation segment led the market with the largest revenue share of 53.7% in 2023. Fertigation allows for precise application of nutrients, reducing nutrient losses and improving crop yields.

Global Specialty Fertilizers market share and size, 2023

Fertigation can reduce water usage by applying nutrients directly to the root zone, which helps to minimize water runoff and leaching. The growing popularity of fertigation, particularly in the market, where precision and efficiency are critical for maximizing crop yields and minimizing environmental impact.

Regional Insights

North America industry is driven by the rising need for specialist fertilizer that allows focused nutrition delivery while lowering environmental effects. In addition, technological development has resulted in the creation of specialty fertilizers that are well-suited to particular crops to maximize both yield and quality. Furthermore, as precision farming methods are more widely used, there is a growing need for a fertilizer that can be administered precisely to enhance effectiveness is further fueling the market growth.

Specialty Fertilizers Market Trends, by Region, 2024 - 2030

U.S. Specialty Fertilizers Market Trends

The specialty fertilizers market in the U.S. held a significant market share in 2023. This growth is attributed to the growing need for fertilizer that can be precisely tailored and administered to maximize crop yields. Furthermore, there is a growing trend of precision agriculture and technology integration which is driving the growth of the market in the country. In addition, the expansion of the U.S. market is due to the growing emphasis on soil health and nutrient Management which is being used by regulatory measures and customer preferences for sustainable and organic products. The need for specialty fertilizers may increase with the adoption of precision technologies in farming, as recommended fertilizers are applied modestly in precision farming. CRF and SRF are two types that can meet this need.

Europe Specialty Fertilizers Market Trends

The market growth in Europe is driven by farms in the area that are adopting measures to reduce chemical runoff and soil deterioration. In addition, the increased adoption of precision farming by farmers and reduced use of conventional fertilizers is driving the market growth. Moreover, the European Union's common agricultural policy is opening up a market for cutting-edge customized formulations that maximize nutrient updates and decrease waste thereby fueling the market growth.

The Germany specialty fertilizers market held a significant share in 2023. Repeated cropping without allowing the soil to regain fertility makes European soils unsuitable for cultivation. However, the product can help provide timely nutrition to the soil while impacting the environment less. These factors are expected to drive the market's growth, increasing the demand for products.

Asia Pacific Specialty Fertilizers Market Trends

Asia Pacific dominated the market with the revenue share of 31.2% in 2023. The industry is driven by the need for more specialized fertilizers to enhance production effectiveness to the region's fast-growing population. In addition, the increased investment in cutting fertilizer that maximizes nutrient uptake and reduces environmental effects simulated by government programs to support sustainability and improve food security is also driving market growth.

The specialty fertilizers market in China is driven need for innovative nutrient sources used in specific soil & plant conditions to trigger special responses that improve plant growth and productivity. Due to repeated cropping without sufficient time for the soil to regain its fertility, Asia-Pacific soils are becoming unsuitable for cultivation.

Central & South America Specialty Fertilizers Market Trends

The specialty fertilizers market in Central and South America is driven by rising adoption of agrochemicals, advancements in farming techniques in Brazil and Argentina, and extensive distribution channels of global agrochemical players. According to the USDA, Brazil is one of the few nations capable of increasing agricultural yields and area.

The Brazil specialty fertilizers marketoccupied the major share in South America in 2023. The climatic conditions in the country are conducive to cultivating diverse crops, including soybean, sugarcane, corn, rice, vegetables, and fruits. Other growth drivers include using new techniques and technologies to bring unusable and barren lands into productivity. Crop production in South America has risen dramatically in recent decades, and growers are expected to expand the planted area and push for higher yields, thus supporting consumption. Brazil's agriculture industry is rapidly expanding, and it is a significant exporter of commodities, such as rice, maize, soybean, coffee, and more, to the global market. The demand for the market in the area is expected to rise because of the increasing land area used for cultivation and the growing risks to agriculture caused by changing climatic conditions such as droughts and heatwaves.

Middle East & Africa Specialty Fertilizers Market Trends

The specialty fertilizer market in Middle East and Africa accounted for a significant market share in 2023. This growth is attributed to the traditional agriculture in the area facing difficulty due to the arid and semi-arid climate which has led to the introduction of specialty fertilizers. In addition, there is a growing need for specialty fertilizers that are suited to specific crop needs and environmental circumstances due to increased investment in commercial agriculture and horticulture projects especially in gulf countries. Furthermore, the Middle East and Africa are witnessing an increase in demand for specialty fertilizer made from natural resources due to the increased emphasis on organic farming and sustainable methods thereby fueling market growth.

The Saudi Arabia specialty fertilizers market accounted for a significant market share in 2023, as it has one of the highest consumptions of red meat in the Middle East and North Africa region. According to the World Bank database, Saudi Arabia is the largest economy in the Middle East, and its GDP stood at USD 1.11 billion in 2022, with increase of 8.7% from 2021 levels.

Key Specialty Fertilizers Company Insights

Some of the key players operating in the market include K+S Akitengesellschaft, Yara, Nutrien, Nufram, and Eurochem Group among others.

  • K+S Akitengesellschaft is a German mineral company that researches, produces, and sells standard and specialty fertilizers, plant care, and salt products. They extract crude salts containing potassium, magnesium, and sulfur from mines in Germany

  • Nutrien is the largest provider of crop inputs and services globally, distributing 27 million tons of potash, nitrogen, and phosphate products. Nutrien's agronomists and crop advisors recommend maintaining the ideal balance of macro- and micronutrients to support soil and crop health. They employ precision agricultural technologies to assist growers in boosting crop yields and soil health while minimizing the risk of nutrient loss to the environment

The Mosaic Company, CF Industries and Holdings, Inc., Nufarm., SQM SA, OCP Group and Sociedad Quimica y Minera De Chile SA., among others, are some of the emerging market participants in the global market.

  • Mosaic is a renowned company that specializes in producing concentrated phosphate and potash. These nutrients are essential for crop growth and help farmers yield more per acre. Mosaic mines produce and distribute millions of tons of top-quality potash and phosphate products annually

  • Sociedad Química y Minera de Chile SA (SQM) is a company that specializes in producing and distributing specialty fertilizers. Their product range includes potassium nitrate, sodium nitrate, potassium sulfate, potassium chloride, and sulfate. These fertilizers are designed for wheat, corn, rice, and sugar crops. More than half of SQM's sales come from their specialty fertilizers

Key Specialty Fertilizers Companies:

The following are the leading companies in the specialty fertilizers market. These companies collectively hold the largest market share and dictate industry trends

  • Nutrien Ltd
  • Yara
  • ICL
  • The Mosaic Company
  • CF Industries and Holdings, Inc.
  • Nufarm
  • SQM SA
  • OCP Group
  • K+S Aktiengesellschaft
  • Eurochem Group
  • Sociedad Quimica y Minera de Chile SA

Recent Developments

  • In January 2022, The Department of Commerce has received a petition on behalf of Chemtrade Chemical US LLC regarding importing specialty goods from India and Russia. This aims to meet the demand for such goods, particularly after the Russia-Ukraine war and the sanctions imposed on Russia. The import and export of specialty goods are expected to boost India's economy. This agreement highlights the Group's investment and commitment to Brazilian agribusiness, enabling the company to serve its customers better and provide a complete fertilizer line from north to south. Expanding EuroChem's area of operation will increase logistics efficiency, resulting in reduced customer costs and contributing to the company's growth

  • In March 2022, EuroChem Group completed a merger and acquisition deal, taking over the Serra do Salitre phosphate project. The deal was worth USD 452 million, and EuroChem plans to invest a similar amount to execute the project fully. The mine and processing plant are in operation, producing around 500 KMT of phosphate rock. This acquisition is a significant milestone for the Group's growth strategy in South America, one of the world's most important crop-growing regions. It further strengthens EuroChem's position as a global leader in fertilizers

Specialty Fertilizers Market Report Scope

Report Attribute


Market size value in 2024

USD 38.0 billion

Revenue forecast in 2030

USD 53.0 billion

Growth rate

CAGR of 5.7% from 2024 to 2030

Base year for estimation


Historical data

2018 - 2022

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, type, crop-type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Argentina; South Africa; Saudi Arabia

Key companies profiled

Nutrien Ltd; Yara; ICL; CF Industries and Holdings, Inc.; Nufarm; SQM SA; OCP Group; K+S Aktiengesellschaft; Eurochem Group; The Mosaic Co.; Sociedad Quimica y Minera de Chile SA

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Specialty Fertilizers Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global specialty fertilizers market report based on technology, type, crop-type, application, and region:

  • Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Controlled-release Fertilizers

    • Water-soluble Fertilizers

    • Liquid Fertilizers

    • Micronutrients

    • Others

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Urea Ammonium Nitrate

    • Calcium Ammonium Nitrate

    • Monoammonium Phosphate

    • Sulfate of Potash

    • Potassium Nitrate

    • Urea Derivatives

    • Blends of NPK

    • Other Type

  • Crop-Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Cereals & Grains

    • Frutis & Vegetables

    • Oilseeds & Pulses

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Fertigation

    • Foliar

    • Soil

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

    • Middle East and Africa

      • Saudi Arabia

      • South Africa

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