Press Release / Business / Specialty Fertilizers Market Research Report by Size, Share, Trend, Global Analysis, Key Players Strategy and Forecast to 2023

Specialty Fertilizers Market Research Report by Size, Share, Trend, Global Analysis, Key Players Strategy and Forecast to 2023

Market Overview
Specialty Fertilizers are primarily used to provide plant nutrition and thus to gain high yield and high-quality product. The increase in the farm products growth, in turn, helps to meet the rising demand for food and enables higher margins than those usually achieved with high-volume fertilizers. The increasing demand for the quality produce which is predominantly led by the ever-increasing population, worldwide, drives the specialty fertilizers market. Moreover, factors such as the change in farming practices and technology are escalating the market on the global platform, leading to increasing the acceptance of modern farming.
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Additional factors helping to boost the growth of the market include the scarcity of arable land due to increasing soil erosion and land pollution.  Moreover, the trend of developing Farmhouses that has evolved into a lucrative business recently fosters the growth of the market, increasing the demand for specialty fertilizers.  Conversely, factors such as the volatility in the price and demand & supply gap of the raw materials required for the production of these fertilizers are posing challenges in the growth of the market. Also, the growing trend of organic food products is impeding the growth of the market. Nevertheless, factors such as the emergence of organic specialty fertilizers will support the growth of the market, offering growth opportunities for the market players.
Key Players
Key players leading the Global Specialty Fertilizers Market include

Yara International (Norway),
Atlantic Gold Corp (Canada),
Mosaic Company (U.S.),
Haifa Chemicals (Israel),
Eurochem (Switzerland)
Agrium Inc. (Canada),
Art Wilson Co. (U.S.)

Fiercely competitive, the Specialty Fertilizers Market appears to be fragmented owing to the numerous large and small-scale players alongside the new entrants forming a competitive landscape. The market players try to gain a competitive advantage through strategic initiatives such as partnership, acquisition, expansion, collaboration, and product & technology launch. 
International players who are increasingly expanding their footprint in the agricultural economy of the growing market, making it difficult for regional vendors to compete with them, especially in terms of features such as quality, technology, and price. 
Industry/Innovation/Related News
March 20, 2019 ---- The agriculture ministry of Japan launched a new programme to promote the uses of drones for agricultural purposes to cope with the aging of farmers and shortages of successors of farms in the country.
The ministry expects that the drones to be utilized for spreading agricultural chemicals and fertilizers as well as for analyzing the growth conditions of crops with cameras mounted on them.
February 25 2019 ----- K+S KALI GmbH (Germany), a leading global supplier of standard and specialty fertilizers announced initiating the Growth for Uganda project in collaboration with Sasakawa Africa, a non-governmental organisation to spread the awareness about the availability of extension services that are nearer to the farmers using a Mobile Farmer Training Center, equipped with soil testing facilities and deployed in hard to reach areas in the country.
Uganda is among the top 10 most populous countries in the world and its population is projected to reach 205 MN by 2100. Inevitably the demand for nutritious food is expected to increase as this increased population has mobilized several stakeholders in the agricultural value chain to look out for innovative ways of increasing food production that will feed the increased population.
Market Segments
For ease of understanding, the Specialty Fertilizers Market is segmented into three key dynamics: -
By Type : Nitrogen Fertilizers, Phosphate Fertilizers, and Potash Fertilizers among others.
By Crop Type: Cereals & Oilseeds, Fruits & Vegetables, and Turf & Ornamentals among others.
By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Regional Analysis:
The Asia Pacific region heading with the presence of highly populated economies dominates the global specialty fertilizers market. Factors such as the improving economy and increasing population, along with the favorable initiatives of the governments to encourage the increased agriculture production that can meet the growing food demands, will foster the growth in the regional market during the review period.
Developing countries, such as India & China among other APAC countries are estimated to witness the maximum growth of the specialty fertilizers market over the forecast period 2017-2023.
The specialty fertilizers market in the North America region stands the second-largest market, globally.  The US backed by the huge demand for these fertilizers contributes to the regional market, enormously. In Latin America, the market is estimated to witness a remarkable growth owing to the increasing agriculture activities. Presence of several key manufacturers in the region positively impacts the regional market growth.