Market Trends of united states specialty fertilizer Industry
This section covers the major market trends shaping the US Specialty Fertilizer Market according to our research experts:
Liquid Fertilizer is the largest segment by Speciality Type.
- The US specialty fertilizer market grew by 47.33% during the study period due to its potential and improved market opportunities.
- In 2021, liquid fertilizers, water-soluble fertilizers, and CRF dominated the market by 18.4%, 17.05%, and 6.68%, respectively. The liquid fertilizers segment in the country grew notably by 25.46% during the study period. The high adoption of precision farming, the ease of application, and the availability of wagons are anticipated to drive the segment's growth during the forecast period.
- The demand for water-soluble fertilizers is driven by the wide range of nutrient grades and different methods of application available for water-soluble fertilizers, such as foliar, fertigation, and soil application, depending on the requirements. Water-soluble fertilizers accounted for a growth of 24.96% during the study period.
- The developing micro-irrigation system in the country is also anticipated to boost segment growth. In 2017, the total irrigated cropland accounted for 58 million acres, and due to the even distribution of liquid fertilizers, the nutrient availability was high, resulting in increased efficiency of nutrient supplementation.
- Hence, the increased governmental focus on reducing the environmental impact of the over-accumulation of conventional fertilizers, coupled with increased technological and scientific advancements, is anticipated to drive the market during the forecast period.
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