Specialty Fertilizers Market to Reach 71.49 Billion USD by 2021 - IndustryARC

HYDERABAD, India and WILMINGTON, Delaware, January 17, 2018 /PRNewswire/ --

The Report "Specialty Fertilizers Market: By Type (Potassium Nitrate, Urea, Granular NPK Fertilizers, Potassium Sulfate, Potassium Chloride, Ammonium Nitrate and Others); By Application(Hydroponics, Fertigation, Horticulture, Foliar Nutrition and Others); By Target Crop (Fruits and Vegetables, Cash Crops, Oilseeds, Turf and Ornamentals and Others); and By Geography - Forecast (2017-2021), published by IndustryARC.

http://industryarc.com/Report/11725/specialty-fertilizers-market.html

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Improving the Yield of Food Crops to Meet the Demand from Increasing Population Propels the Growth of Global Specialty Fertilizers Market to reach $71.49 Billion by 2021 

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Fertilizers basically are the products that improves the quality of available plant nutrients and the chemical and physical characteristics of soil, thereby directly or indirectly improving plant growth, yield, and quality. In order for crops to grow, three principal soil nutrients are required: nitrogen (N), phosphorus (P) and potassium (K). As each harvest removes these nutrients in the form of crops, they must be replenished to prevent the land from becoming barren. These fertilizer components help in increasing the durability and strength of the agricultural land. The global market is segmented according to the different types of fertilizers such as potassium nitrate, urea, granular npk fertilizers, potassium sulfate, potassium chloride, ammonium nitrate and others.  Among these different types of fertilizers, Granular NPK dominate the overall market in terms of consumption and revenue owing to its renewable nature, sustainability and environment friendliness. The market has also been analyzed for four geographic regions which include: North America, Asia-Pacific, Europe and Rest of the World.

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The global market in 2016 was dominated by Asia-Pacific which was estimated to have 52% of the total market but Asia-Pacific is poised to exhibit slow growth rate, overtaken by south and Central America due to favorable macroeconomic conditions such as increasing population which would eventually result in increasing the yield of crops to feed everyone. China and India are the growth frontiers for the fertilizers manufacturers providing a huge potential market to be tapped. China is the largest market with the highest share. Major countries of Asia-Pacific region, China, India, Pakistan, Indonesia are involved in many agricultural activities which make it high demand region for fertilizers. Apart from Asia-Pacific, the fertilizer revenue in South and Central American countries are estimated to grow at a high CAGR of 4.53% during the forecast period.