South America Specialty Fertilizer Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 3.13 Billion |
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Market Size (2030) | USD 4.46 Billion |
|
Largest Share by Speciality Type | Liquid Fertilizer |
|
|
CAGR (2024 - 2030) | 6.07 % |
|
Largest Share by Country | Brazil |
|
|
Market Concentration | Medium |
Major Players |
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|
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*Disclaimer: Major Players sorted in alphabetical order. |
South America Specialty Fertilizer Market Analysis
The South America Specialty Fertilizer Market size is estimated at 3.13 billion USD in 2024, and is expected to reach 4.46 billion USD by 2030, growing at a CAGR of 6.07% during the forecast period (2024-2030).
3.13 Billion
Market Size in 2024 (USD)
4.46 Billion
Market Size in 2030 (USD)
8.15 %
CAGR (2017-2023)
6.07 %
CAGR (2024-2030)
Largest segment by Speciality Type
51.10 %
value share, Liquid Fertilizer, 2023
Advancements in irrigation systems and increased adoption of advanced cultivation methods, such as hydroponics and aquaponics id driving liquid fertilizers market.
Fastest Growing Speciality Type
7.16 %
Projected CAGR, CRF, 2024-2030
The factors such as providing sustained and efficient nutrient supply to the plants and fewer nutrient losses are driving the demand for control-release fertilizers.
Largest Segment by Crop Type
6.10 %
Projected CAGR, Field Crops, 2024-2030
Due to intensive cultivation and monoculture practices, field crops have depleted the nutrients in the soil. Thus, leading to higher specialty fertilizer consumption.
Largest segment by Country
60.05 %
value share, Brazil, 2023
Brazil is expected to account for 70.0% of the world's arable land by the year 2050, and it is expected to be a major market for specialty fertilizers in the future.
Leading Market Player
34.52 %
market share, Yara International ASA, 2022
Yara International involves in production and marketing of crop nutrition products and solutions. Which includes foliar, water soluble, micronutrient and other fertilizers.
Water soluble fertilizers dominated the market due to their suitability for various agricultural systems
- In 2022, water-soluble fertilizers held a dominant share of 42.3% in South America's specialty fertilizer market. Water soluble fertilizers (WSF) simplify nutrition management because nutrient levels are not affected by leaching or erosion. Fertigation, a key component of modern agricultural systems like hydroponics and drip irrigation, is made user-friendly with water-soluble fertilizers.
- Liquid fertilizers took the lion's share of 51.6% in South America's specialty fertilizer market in 2022. Growers in the region are increasingly recognizing the benefits of liquid fertilizers. These fertilizers not only penetrate the soil easily, enabling faster nutrient absorption by plants, but also minimize waste. They can be applied to both the ground and foliage, presenting a significant growth opportunity in South America.
- The controlled-release fertilizer market in South America held a modest share of 2.8% in 2022. Among controlled-release fertilizers, polymer-coated variants dominated, commanding a 76.3% share. This market is being propelled by a rising interest in developing innovative and environmentally friendly controlled-release fertilizers. Projections indicate a 6.7% CAGR for the controlled-release fertilizer market in the coming years.
- Slow-release fertilizers, which gradually release nutrients over time, accounted for a modest 2.4% of South America's specialty fertilizer market. These fertilizers, influenced by water, heat, sunlight, and soil microbes, gradually break down and decompose, enriching the soil. Given the expanding market potential for specialty fertilizers, the slow-release segment is poised for significant growth from 2023 to 2030.
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Brazil dominated the market owing to the larger area and greater agricultural potential.
- In 2022, Brazil, a significant player in the global agricultural sector, stood as a key exporter of commodities such as rice, maize, soybean, and coffee. The specialty fertilizer market in Brazil was valued at USD 1.8 billion, and it witnessed a consumption of 2.0 million metric ton in the same year.
- Argentina heavily relies on its agricultural sector, with wheat, corn, and soybean being prominent crops. The country's fertilizer consumption is notable, with an average application rate of 259.4 kg/ha. In 2022, Argentina accounted for 14.1% of the region's specialty fertilizer consumption.
- Specialty fertilizer consumption in the region has been on the rise since 2017, surging from 289.6 thousand metric ton to 430.2 thousand metric ton in 2022. The market value showed consistent growth until 2019 when the COVID-19 pandemic disrupted trade and supply chains. Given the region's reliance on fertilizer imports, prices saw an upward trend during the period.
- The remaining South American countries, including Chile, Colombia, Peru, Bolivia, and Paraguay, collectively represented 25.9% of the region's specialty fertilizer consumption in 2022. These countries boast a diverse agricultural landscape, spanning from cereals to fruits and vegetables, with agriculture serving as a primary income source for their populations.
- With an expanding cultivation area and escalating climate risks like droughts and heatwaves, the South American specialty fertilizer market is poised for growth. These challenges are driving the adoption of more efficient fertilizers.
South America Specialty Fertilizer Market Trends
The Brazilian government's initiatives to achieve self-sufficiency in crop production
- The cultivation area for field crops in South America witnessed a 12.8% increase, rising from 111.6 million ha in 2017 to 126.1 million ha in 2022. This surge in cultivation area is projected to drive up the demand for fertilizers in the region. Field crops dominated the landscape, occupying a significant 96.8% share. In 2022, Brazil held the lion's share of the market at 56.9%, with Argentina trailing at 29.3%. Brazil, renowned as the global leader in soy production and exports, saw its soy output reach nearly 135 million tonnes in 2021. Out of this, a substantial 105.5 million tonnes of soy products were exported, with 82% in raw soybean form, 16% as soybean cake, and 2% as soybean oil.
- Soybean cultivation reigns supreme in South America, with Brazil and Argentina leading the pack, accounting for 64.4% and 26.1% of the cultivated area, respectively. However, the region is grappling with an extended drought, resulting in alarmingly low water levels in major rivers. This has severe repercussions, hampering both harvests and the transportation of crucial summer crops, especially soybeans. Consequently, the prevailing conditions are amplifying the demand for increased fertilizer application in South America.
- The Mercosur region has witnessed a surge in soybean cultivation, driven by robust global demand and the crop's attractive profitability in recent years. The surge in commodity prices, including soy, has incentivized producers to expand their operations, investing in new lands and equipment to enhance scale and efficiency. As a result, the field crop cultivation area in the region is poised to expand in tandem with the growing domestic and international markets.
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The average rate of primary nutrient application for field crops in the South American region is about 172.73 kg/hectare
- South America is a major producer of field crops such as soybeans, corn, wheat, and maize. Over the last two decades, the production of these crops has experienced a significant rise due to an increase in cultivated land and efforts to achieve higher yields. As growers in countries like Brazil continue to expand their cultivated areas, it is expected that crop production will further increase, which, in turn, may lead to a rise in fertilizer consumption.
- Nutrients play a crucial role in plant health, growth, and crop production output. Primary nutrients, in particular, are essential for field crops as they provide the basic building blocks for plant development. These nutrients include nitrogen, phosphorus, and potassium, and a deficiency in any of them can have a significant impact on crop yield and quality. The average rate of primary nutrient application for field crops in South America was about 172.7 kg/hectare in 2022. Among all the primary nutrients, nitrogen had the highest application rate of 193.8 kg/hectare, followed by potassium with 181.9 kg/hectare, while phosphorous had an application rate of 142.4 kg/hectare.
- Among all the field crops, wheat, rice, and corn/maize are predicted to have the highest average nutrient application rate. Specifically, wheat is projected to have an average nutrient application rate of 231 kg/ha, while rice and corn/maize are estimated to have average rates of 156 kg/ha and 149 kg/ha, respectively. In South America, the demand for field crops has been on the rise due to the growing population, leading to an increase in the area harvested under major food crops. As a result, the use of primary nutrients in field crops is expected to increase significantly in the coming years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The shift to field crop cultivation, coupled with free trade agreements, has reduced horticultural crop cultivation in the region
- Calcium, magnesium, and sulfur are important in forming certain amino acids and proteins
- Brazil majorly dominates irrigation agriculture in the region
- In South America, cauliflower has the highest potassium requirement, with an average application rate of 592.6 kg per hectare
- Sulfur deficiencies are common in sandy soils with low organic matter content in Brazil's Cerrado (tropical savanna) region
South America Specialty Fertilizer Industry Overview
The South America Specialty Fertilizer Market is moderately consolidated, with the top five companies occupying 60.29%. The major players in this market are ICL Group Ltd, K+S Aktiengesellschaft, Sociedad Quimica y Minera de Chile SA, The Mosaic Company and Yara International ASA (sorted alphabetically).
South America Specialty Fertilizer Market Leaders
ICL Group Ltd
K+S Aktiengesellschaft
Sociedad Quimica y Minera de Chile SA
The Mosaic Company
Yara International ASA
Other important companies include EuroChem Group, Grupa Azoty S.A. (Compo Expert), Haifa Group, TIMAC Agro.
*Disclaimer: Major Players sorted in alphabetical order.
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South America Specialty Fertilizer Market News
- March 2022: The Haifa Group entered a purchase agreement with HORTICOOP BV to acquire Horticoop Andina, the distributor of nutritional products for agriculture. Through this acquisition of the brand, Haifa intends to expand its market presence in the Latin American market and strengthen its position as a global superbrand in advanced plant nutrition.
- January 2021: ICL Group Ltd acquired Fertilaqua, one of Brazil's leading specialty plant nutrition companies to increase the sales of its controlled-released fertilizers, organic fertilizers, and other specialty plant nutrition products.
- July 2018: Haifa Group introduced a novel range of coated micronutrients, enabling an all-season complete nutrition. Based on Multicote™ technology, the coated micronutrients provide your crops with all the benefits of controlled-release nutrition.
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Along with the report, We also offer a comprehensive and exhaustive data pack with 25+ graphs on area under cultivation and average application rate per hectare. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
South America Specialty Fertilizer Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Acreage Of Major Crop Types
2.1.1. Field Crops
2.1.2. Horticultural Crops
2.2. Average Nutrient Application Rates
2.2.1. Primary Nutrients
2.2.1.1. Field Crops
2.2.1.2. Horticultural Crops
2.2.2. Secondary Macronutrients
2.2.2.1. Field Crops
2.2.2.2. Horticultural Crops
2.3. Agricultural Land Equipped For Irrigation
2.4. Regulatory Framework
2.5. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Speciality Type
3.1.1. CRF
3.1.1.1. Polymer Coated
3.1.1.2. Polymer-Sulfur Coated
3.1.1.3. Others
3.1.2. Liquid Fertilizer
3.1.3. SRF
3.1.4. Water Soluble
3.2. Application Mode
3.2.1. Fertigation
3.2.2. Foliar
3.2.3. Soil
3.3. Crop Type
3.3.1. Field Crops
3.3.2. Horticultural Crops
3.3.3. Turf & Ornamental
3.4. Country
3.4.1. Argentina
3.4.2. Brazil
3.4.3. Rest of South America
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. EuroChem Group
4.4.2. Grupa Azoty S.A. (Compo Expert)
4.4.3. Haifa Group
4.4.4. ICL Group Ltd
4.4.5. K+S Aktiengesellschaft
4.4.6. Sociedad Quimica y Minera de Chile SA
4.4.7. The Mosaic Company
4.4.8. TIMAC Agro
4.4.9. Yara International ASA
5. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, SOUTH AMERICA, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, SOUTH AMERICA, 2017 - 2022
- Figure 3:
- CONSUMPTION OF PRIMARY NUTRIENTS BY FIELD CROPS IN KG/HECTARE, SOUTH AMERICA, 2022
- Figure 4:
- CONSUMPTION OF PRIMARY NUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, SOUTH AMERICA, 2022
- Figure 5:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, SOUTH AMERICA, 2022
- Figure 6:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, SOUTH AMERICA, 2022
- Figure 7:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, SOUTH AMERICA, 2022
- Figure 8:
- SPECIALITY FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 9:
- SPECIALITY FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 10:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 11:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 12:
- FERTILIZER CONSUMPTION VOLUME BY SPECIALITY TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 13:
- FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 14:
- CRF FERTILIZER CONSUMPTION BY COATING TYPE IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 15:
- CRF FERTILIZER CONSUMPTION BY COATING TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 16:
- CRF FERTILIZER CONSUMPTION VOLUME BY COATING TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 17:
- CRF FERTILIZER CONSUMPTION VALUE BY COATING TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 18:
- POLYMER COATED CRF FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 19:
- POLYMER COATED CRF FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 20:
- POLYMER COATED CRF FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 21:
- POLYMER-SULFUR COATED CRF FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 22:
- POLYMER-SULFUR COATED CRF FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 23:
- POLYMER-SULFUR COATED CRF FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 24:
- OTHERS CRF FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 25:
- OTHERS CRF FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 26:
- OTHERS CRF FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 27:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 28:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 29:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION BY CROP TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 30:
- SRF FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 31:
- SRF FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 32:
- SRF FERTILIZER CONSUMPTION BY CROP TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 33:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 34:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 35:
- WATER SOLUBLE FERTILIZER CONSUMPTION BY CROP TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 36:
- SPECIALITY FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 37:
- SPECIALITY FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 38:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 39:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 40:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 41:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 42:
- FERTIGATION APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 43:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 44:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 45:
- FOLIAR APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 46:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 47:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 48:
- SOIL APPLICATION OF SPECIALITY FERTILIZER IN VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 49:
- SPECIALITY FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 50:
- SPECIALITY FERTILIZER CONSUMPTION BY CROP TYPE IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 51:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 52:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 53:
- SPECIALITY FERTILIZER CONSUMPTION BY FIELD CROPS IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 54:
- SPECIALITY FERTILIZER CONSUMPTION BY FIELD CROPS IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 55:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 56:
- SPECIALITY FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 57:
- SPECIALITY FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 58:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 59:
- SPECIALITY FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 60:
- SPECIALITY FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 61:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY TYPE IN %, SOUTH AMERICA, 2023 VS 2030
- Figure 62:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 63:
- SPECIALITY FERTILIZER CONSUMPTION BY COUNTRY IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 64:
- SPECIALITY FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 65:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 66:
- SPECIALITY FERTILIZER CONSUMPTION IN METRIC TON, ARGENTINA, 2017 - 2030
- Figure 67:
- SPECIALITY FERTILIZER CONSUMPTION IN USD, ARGENTINA, 2017 - 2030
- Figure 68:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, ARGENTINA, 2023 VS 2030
- Figure 69:
- SPECIALITY FERTILIZER CONSUMPTION IN METRIC TON, BRAZIL, 2017 - 2030
- Figure 70:
- SPECIALITY FERTILIZER CONSUMPTION IN USD, BRAZIL, 2017 - 2030
- Figure 71:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, BRAZIL, 2023 VS 2030
- Figure 72:
- SPECIALITY FERTILIZER CONSUMPTION IN METRIC TON, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 73:
- SPECIALITY FERTILIZER CONSUMPTION IN USD, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 74:
- SPECIALITY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF SOUTH AMERICA, 2023 VS 2030
- Figure 75:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SOUTH AMERICA, 2017 - 2030
- Figure 76:
- SOUTH AMERICA SPECIALTY FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 77:
- MARKET SHARE OF MAJOR PLAYERS IN %, SOUTH AMERICA, 2022
South America 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. Argentina, Brazil are covered as segments by Country.
- In 2022, water-soluble fertilizers held a dominant share of 42.3% in South America's specialty fertilizer market. Water soluble fertilizers (WSF) simplify nutrition management because nutrient levels are not affected by leaching or erosion. Fertigation, a key component of modern agricultural systems like hydroponics and drip irrigation, is made user-friendly with water-soluble fertilizers.
- Liquid fertilizers took the lion's share of 51.6% in South America's specialty fertilizer market in 2022. Growers in the region are increasingly recognizing the benefits of liquid fertilizers. These fertilizers not only penetrate the soil easily, enabling faster nutrient absorption by plants, but also minimize waste. They can be applied to both the ground and foliage, presenting a significant growth opportunity in South America.
- The controlled-release fertilizer market in South America held a modest share of 2.8% in 2022. Among controlled-release fertilizers, polymer-coated variants dominated, commanding a 76.3% share. This market is being propelled by a rising interest in developing innovative and environmentally friendly controlled-release fertilizers. Projections indicate a 6.7% CAGR for the controlled-release fertilizer market in the coming years.
- Slow-release fertilizers, which gradually release nutrients over time, accounted for a modest 2.4% of South America's specialty fertilizer market. These fertilizers, influenced by water, heat, sunlight, and soil microbes, gradually break down and decompose, enriching the soil. Given the expanding market potential for specialty fertilizers, the slow-release segment is poised for significant growth from 2023 to 2030.
| Speciality Type | |||||
| |||||
| Liquid Fertilizer | |||||
| SRF | |||||
| Water Soluble |
| Application Mode | |
| Fertigation | |
| Foliar | |
| Soil |
| Crop Type | |
| Field Crops | |
| Horticultural Crops | |
| Turf & Ornamental |
| Country | |
| Argentina | |
| Brazil | |
| Rest of South America |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - Primary Nutrients: N, P and K, Secondary Macronutrients: Ca, Mg and S, Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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