The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Latin America Specialty Fertilizers Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Latin America Specialty Fertilizers Industry (2023-2028):
According to the latest report, The Latin America Specialty Fertilizers Market is valued at around USD 11.4 billion in 2024 and is projected to grow at a CAGR of around 7.63% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Latin America Specialty Fertilizers industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
· Historical Data: 2019-22
· Base Year: 2023
· Forecast Period: 2023-28
· CAGR (2023-2028): 7.63%
· Market value (2024): USD 11.4 million
What are the major Driver the Latin America Specialty Fertilizers industry?
Increasing Population & Consumer Demand for Sustainable Food - The population of Latin America is rising at a notable pace and, consequently, creating immense food requirements. Specialty fertilizers help farmers produce more food with fewer resources, which makes them an attractive option for farmers looking for increased yields & productivity. Along with this, more & more consumers are becoming increasingly aware of the adverse impact of traditional agricultural practices on the environment and thus are seeking more sustainable food options. As a result, farmers are adopting specialty fertilizers to minimize nutrient runoff & environmental pollution and promote soil health. It is helping farmers to reduce the use of pesticides, implement sustainable irrigation systems, and reduce greenhouse gas emissions. Moreover, active government efforts to promote sustainable agriculture and improve agricultural productivity, such as subsidies, tax incentives, & various programs that encourage the adoption of specialty fertilizers, are also set to boost the market in the coming years.
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Latin America Specialty Fertilizers Market Segmentation
The Latin America Specialty Fertilizers Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Nutrient Type
- Primary Nutrients- Market Size & Forecast 2018-2028, Thousand Tons
- Nitrogen- Market Size & Forecast 2018-2028, Thousand Tons
- Phosphorus- Market Size & Forecast 2018-2028, Thousand Tons
- Potassium - Market Size & Forecast 2018-2028, Thousand Tons
- Secondary Nutrients- Market Size & Forecast 2018-2028, Thousand Tons
- Calcium- Market Size & Forecast 2018-2028, Thousand Tons
- Magnesium- Market Size & Forecast 2018-2028, Thousand Tons
- Sulfur- Market Size & Forecast 2018-2028, Thousand Tons
- Micronutrients- Market Size & Forecast 2018-2028, Thousand Tons
- Boron- Market Size & Forecast 2018-2028, Thousand Tons
- Copper- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Manganese, Iron, Zinc, etc.- Market Size & Forecast 2018-2028, Thousand Tons)
- By Crop Type
- Cereals & Grains- Market Size & Forecast 2018-2028, Thousand Tons
- Wheat- Market Size & Forecast 2018-2028, Thousand Tons
- Rice- Market Size & Forecast 2018-2028, Thousand Tons
- Corn- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Sugarcane, Cotton, etc.)- Market Size & Forecast 2018-2028, Thousand Tons
- Fruits & Vegetables- Market Size & Forecast 2018-2028, Thousand Tons
- Leafy Vegetables- Market Size & Forecast 2018-2028, Thousand Tons
- Roots & Tuber Vegetables- Market Size & Forecast 2018-2028, Thousand Tons
- Citrus Fruits- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Pome Fruits, Stone Fruits, Grapes, etc.)- Market Size & Forecast 2018-2028, Thousand Tons
- Oilseed & Pulses- Market Size & Forecast 2018-2028, Thousand Tons
- Soybean- Market Size & Forecast 2018-2028, Thousand Tons
- Sunflower- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Rapeseed, Niger, etc.)- Market Size & Forecast 2018-2028, Thousand Tons
- By Form
- Controlled Release Fertilizers- Market Size & Forecast 2018-2028, Thousand Tons
- Slow Release Fertilizers- Market Size & Forecast 2018-2028, Thousand Tons
- Water Soluble Fertilizers- Market Size & Forecast 2018-2028, Thousand Tons
- Liquid Fertilizers- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Micronutrients, Granular, etc.)- Market Size & Forecast 2018-2028, Thousand Tons
- By Application Methods
- Soil- Market Size & Forecast 2018-2028, Thousand Tons
- Foliar- Market Size & Forecast 2018-2028, Thousand Tons
- Fertigation- Market Size & Forecast 2018-2028, Thousand Tons
- By Country
- Mexico
- Brazil
- Argentina
- Columbia
- Chile
- Peru
- Rest of Latin America
As per the regional aspect, the Latin America Specialty Fertilizers Market is expected to be dominated by Brazil by capturing the potential market share.
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Top Companies in the Latin America Specialty Fertilizers Market
Compact-expert, Haifa, ICL Group, Nortox, Nutrien Limited, Sociedad Quimica y Minera (SQM), The Mosaic Company, Yara International ASA, K+S AKTIENGESELLSCHAFT, ManttraGimsa, Others
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