According to MarketsandMarkets, the global specialty fertilizers market size is estimated to be valued at USD 24.3 billion in 2022 and is projected to reach USD 33.7 billion by 2027, recording a CAGR of 6.8% in terms of value. The market for specialty fertilizers has seen significant growth due to the comparatively lower effectiveness of conventional fertilizers and the need to boost crop productivity. Their use can help push nutrient use efficiency (NUE) and reduce the environmental damage caused by chemical fertilization and the improper disposal/reuse of agricultural waste. The agricultural and environmental benefits associated with these fertilizers are the major factors contributing to the growth of this market globally.
The key players in this market include Nutrien Ltd. (Canada), Yara (Norway), ICL (Israel), The Mosaic Company (US), CF Industries and Holdings, Inc. (US), Nufarm (Australia), SQM SA (Chile), OCP Group (Morocco), Kingenta (China), K+S Aktiengesellschaft (Germany), OCI Nitrogen (Netherlands), EuroChem (Switzerland), Coromandel International Limited (India), Zuari Agro Chemicals Ltd. (India), and Deepak Fertilizers and Petrochemicals Corporation Limited (India)
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Nutrien, Ltd. was formed in 2018 during the merger between Agrium, Inc. (Canada) and Potash Corporation of Saskatchewan Inc. (PotashCorp) (Canada) to become one of the world’s largest premier providers of crop inputs and services. Nutrien, Ltd. has among the largest crop nutrient product portfolios and a global distribution network of more than 1,500 farm retail centers. It is a leading manufacturer and distributes over 29.7 million tons of nitrogen, potash, and phosphate products worldwide for industrial, agricultural, and feed customers. The company operates through five business segments: Retail, Potash, Nitrogen, Phosphate, Corporate & others
The company has a wide range of retail agriculture networks that provide services to over 500,000 grower accounts. It also has ~1,700 retail locations in seven countries and operations and investments in 14 countries. The company is present across North America, South America, Europe, Asia, Africa, and Australia. It provides fertilizer products in dry form and liquid form, including nitrogen (dry), nitrogen (liquid), potash (dry), potash (liquid), industrial (dry), and industrial (liquid).
In January 2020, Nutrien Ltd. entered into a definitive agreement to purchase 100% equity of Agrosema Comercial Agricola Ltda. The acquisition was aimed at enhancing Nutrien’s penetration in the Brazilian market. Agrosema is a major agricultural retailer in the crop input market of southern Brazil, with sales of approximately USD 60 million.
Yara is one of the largest fertilizer manufacturing companies in the world. The company primarily produces and distributes mineral fertilizers and environmental solutions. It manages its business through three segments: downstream, industrial, and upstream. The company offers a wide range of liquid fertilizer products in the form of potassium, phosphorus, and sulfate.
The company offers fertilizers products under brands such as YaraBela, YaraLiva, YaraMila, YaraVera, and YaraRega. It provides a complete fertilizer portfolio to growers globally under its downstream segment and ammonia, urea, nitrates, and other nitrogen-based fertilizer products under its upstream business segment.
The company operates globally through its subsidiaries, sales offices, terminals, and warehouses across 50 countries. Yara sells its products to over 120 countries with its geographic presence in the Americas, Europe, Africa, and Asia. Being one of the leaders in liquid fertilizers, the company has a large consumer base for foliar and soil fertilizer products globally.
In February 2022, Yara acquired a 14% stake in the Brazilian online farm products trade platform Orbia, majorly owned by Bayer AG (Germany). Yara aimed to derive 25% of its sales from online channels by 2025.
ICL is one of the key global companies that produce products based on unique minerals and distributes them in three markets—agriculture, food, and engineered materials. The company develops, produces, and markets fertilizers, industrial additives, and materials globally. It operates through four businesses: Potash, phosphate solutions, innovative Ag solutions, and others. The company provides potash, phosphate fertilizers, specialty fertilizers, and fertilizers for turf and landscape. It offers liquid fertilizers, CRFs, slow-release fertilizers, water-soluble fertilizers, and other specialty-grade fertilizers.
The company’s mining and production sites are in Europe, Israel, China, and North and South America. The company operates globally through its subsidiaries and has a strong presence in North America, South America, Europe, the Middle East, and Asia. It manufactures liquid, water-soluble, and compound fertilizers in Spain, the Netherlands, Germany, and Belgium. It markets its fertilizer products globally, mainly in Europe, Brazil, India, China, and Israel.
In June 2022, ICL announced a long-term agreement with India Potash Limited (India) to supply polysulfate through 2026 with a renewable option. The availability of polysulfate is expected to boost the Government of India’s organic agriculture program. It will also help ICL penetrate and serve the Indian market’s potential for specialty fertilizers.
Specialty Fertilizers Market by Technology (Controlled-release Fertilizers, Micronutrients, Water Soluble Fertilizers, and Liquid Fertilizers), Form (Dry and Liquid), Application Method, Type, Crop Type and Region - Global Forecast to 2027
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