Description

The global specialty fertilizers market size valued USD 36.32 billion in 2020 and expected to reach USD 63.31 Billion by 2027, at a CAGR of 6.8% during forecast period 2021-2027. specialty fertilizers market is expected to expand at tremendous growth rates due to it’s wide range of benefits over the traditional fertilizers. Fertilizers that are applied in specific soil and plant conditions are known as specialty fertilisers. In order to boost production levels, specialty fertilisers are administered to plants for specialised activity. Essential nutrients are released by specialty fertilisers. These nutrients are in insufficient quantities and are absorbed fully by the plants. It regulates the quantity of moisture that comes into touch with it. Furthermore, technological advancements, increase in support of governments, growing population pool, growing demand for food, growing awareness regarding health care concerns are further fuel the growth of specialty fertilizers. On the other hand, factors like complexity in production, high costs of specialty fertilizers are expected to hinder the growth of specialty fertilizers market. The granulated fertilizers that supply nutrients to soil and crops gradually are known as specialty fertilizers. These are classified into three types, slow-release fertilizers, controlled release fertilizers, and fertilizers associated with the enzymatic processes inhibitors. Slow-release fertilizers release the nutrients at a low predictable rate and controlled release fertilizers release the nutrients at predictable rates in a specific time period.

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