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India Specialty Fertilizer Market Size

The India Specialty Fertilizer Market is projected to experience significant growth over the forecast period, driven by increasing demand for high-efficiency and environmentally safe fertilizers. The market's expansion is supported by the adoption of sustainable farming practices and the government's regulations, such as the mandatory production of neem-coated urea. Liquid fertilizers dominate the market, with complex fertilizers holding the largest share. The market's growth is further fueled by the intensive cultivation of field and horticultural crops, which drive the demand for slow-release and water-soluble fertilizers.

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Market Size of india specialty fertilizer Industry

India Specialty Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 1.2 Billion
svg icon Market Size (2030) USD 1.77 Billion
svg icon Largest Share by Speciality Type Liquid Fertilizer
svg icon CAGR (2024 - 2030) 6.71 %
svg icon Fastest Growing by Speciality Type CRF
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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India Specialty Fertilizer Market Analysis

The India Specialty Fertilizer Market size is estimated at 1.2 billion USD in 2024, and is expected to reach 1.77 billion USD by 2030, growing at a CAGR of 6.71% during the forecast period (2024-2030).

1.2 Billion

Market Size in 2024 (USD)

1.77 Billion

Market Size in 2030 (USD)

8.36 %

CAGR (2017-2023)

6.71 %

CAGR (2024-2030)

Largest segment by Speciality Type

48.67 %

value share, Liquid Fertilizer, 2023

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Liquid fertilizers domination attributed to the application of these fertilizers through foliar mode quickly address the various nutrinet deficiecies and increases the yield

Fastest Growing Speciality Type

7.33 %

Projected CAGR, CRF, 2024-2030

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Growing adoption of CRFs in agricultural production majorly due to the increased concerns over environment, ground and surface water contamination by nitrogen leaching

Largest Segment by Crop Type

6.88 %

Projected CAGR, Horticultural Crops, 2024-2030

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Specialty fertilizers usage increased in the horticultural crops due to increased focus on export of high-value crops with enhanced quality to meet international standards

Largest segment by Application Mode

48.82 %

value share, Fertigation, 2023

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Adoption of sustainble and irrigation agricultural practices raising the application of water-soluble and liquid fertilizers through fertigation reduces nutrient losses

Leading Market Player

14.72 %

market share, Indian Farmers Fertiliser Cooperative Limited, 2022

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IFFCO is leading the market with expanding existing production capacities and introduced high efficent urea based fertilizers and other water-soluble fertilizers

Sustainable farming practices and higher environmental safety are being adopted, driving the usage of specialty fertilizers

  • The controlled-release fertilizer market in the country witnessed an increase in market value by 106.1%, whereas the consumption volume increased by 24.2% during 2017-2021. The main reason for this was the Government of India making it mandatory for all domestic producers of urea to produce 100% neem-coated urea and distribute it at a subsidized price to the farmers.
  • Liquid fertilizers accounted for 49.7% of India's specialty fertilizer market in 2022. Complex fertilizers accounted for the maximum share in the liquid fertilizer market, i.e., 75.7%. This segment was valued at USD 206.1 million in 2017, which is anticipated to reach USD 2.12 billion by 2030. Similarly, straight fertilizers accounted for 24.3% of the liquid fertilizers market in 2022.
  • Slow-release fertilizers accounted for 1.0% of the specialty fertilizer market value in 2022. Field crops and horticultural crops are the major consumers of slow-release fertilizers, accounting for 89.6% and 10.2% of the market volume in 2022. The intensive field crop and horticultural crop cultivation in the country are anticipated to drive the market for slow-release fertilizers.
  • In the specialty fertilizer market, water-soluble fertilizers accounted for 46.2% of the value share in 2022. The water-soluble fertilizer market witnessed stable growth during 2017-2021, valued at USD 1.46 billion in 2022. Field crops occupied the largest share of 88.8%, followed by horticultural crops.
  • The rise in demand for high-efficiency fertilizers, ease of application, adoption of sustainable farming practices, and higher environmental safety are some of the factors driving the specialty fertilizer market in India.
India Specialty Fertilizer Market

India Specialty Fertilizer Industry Segmentation India Specialty Fertilizer Industry Segmentation

CRF, Liquid Fertilizer, SRF, Water Soluble are covered as segments by Speciality Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.

  • The controlled-release fertilizer market in the country witnessed an increase in market value by 106.1%, whereas the consumption volume increased by 24.2% during 2017-2021. The main reason for this was the Government of India making it mandatory for all domestic producers of urea to produce 100% neem-coated urea and distribute it at a subsidized price to the farmers.
  • Liquid fertilizers accounted for 49.7% of India's specialty fertilizer market in 2022. Complex fertilizers accounted for the maximum share in the liquid fertilizer market, i.e., 75.7%. This segment was valued at USD 206.1 million in 2017, which is anticipated to reach USD 2.12 billion by 2030. Similarly, straight fertilizers accounted for 24.3% of the liquid fertilizers market in 2022.
  • Slow-release fertilizers accounted for 1.0% of the specialty fertilizer market value in 2022. Field crops and horticultural crops are the major consumers of slow-release fertilizers, accounting for 89.6% and 10.2% of the market volume in 2022. The intensive field crop and horticultural crop cultivation in the country are anticipated to drive the market for slow-release fertilizers.
  • In the specialty fertilizer market, water-soluble fertilizers accounted for 46.2% of the value share in 2022. The water-soluble fertilizer market witnessed stable growth during 2017-2021, valued at USD 1.46 billion in 2022. Field crops occupied the largest share of 88.8%, followed by horticultural crops.
  • The rise in demand for high-efficiency fertilizers, ease of application, adoption of sustainable farming practices, and higher environmental safety are some of the factors driving the specialty fertilizer market in India.
Speciality Type
CRF
Polymer Coated
Polymer-Sulfur Coated
Others
Liquid Fertilizer
SRF
Water Soluble
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
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India Specialty Fertilizer Market Size Summary

The India Specialty Fertilizer Market is poised for significant growth, driven by the increasing demand for high-efficiency fertilizers and the adoption of sustainable farming practices. The market is characterized by a diverse range of products, including controlled-release, liquid, and water-soluble fertilizers, each catering to specific agricultural needs. The government's initiatives, such as mandating neem-coated urea production, have bolstered the market's expansion. The intensive cultivation of field and horticultural crops, particularly rice and wheat, underscores the necessity for specialty fertilizers to enhance crop yield and soil health. The market's growth is further supported by the rising domestic and international demand for staple crops, which necessitates the application of specialized nutrients to maintain soil fertility and agricultural productivity.

The market landscape is moderately consolidated, with key players like Coromandel International Ltd., Deepak Fertilizers & Petrochemicals Corporation Ltd, and ICL Group Ltd dominating the sector. These companies are actively expanding their product offerings through strategic partnerships and innovations, such as the development of nano-technology-based fertilizers and premium nutrition solutions. The increasing nutrient deficiencies in soil, particularly in nitrogen, phosphorus, and potassium, highlight the critical role of specialty fertilizers in sustaining agricultural output. As the demand for cereals and other crops continues to rise, the specialty fertilizer market in India is expected to experience robust growth, driven by the need for effective nutrient management and enhanced crop production capabilities.

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India Specialty Fertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Speciality Type

      1. 1.1.1 CRF

        1. 1.1.1.1 Polymer Coated

        2. 1.1.1.2 Polymer-Sulfur Coated

        3. 1.1.1.3 Others

      2. 1.1.2 Liquid Fertilizer

      3. 1.1.3 SRF

      4. 1.1.4 Water Soluble

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

India Specialty Fertilizer Market Size FAQs

The India Specialty Fertilizer Market size is expected to reach USD 1.20 billion in 2024 and grow at a CAGR of 6.71% to reach USD 1.77 billion by 2030.

In 2024, the India Specialty Fertilizer Market size is expected to reach USD 1.20 billion.

India Specialty Fertilizer Market Report Snapshots

India Specialty Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2030