Market Size of south america specialty fertilizer Industry
| 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 |
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Largest Share by Speciality Type | Liquid Fertilizer |
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CAGR (2024 - 2030) | 6.07 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular 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.
Understand The Key Trends Shaping This Market
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 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 |
Need A Different Region Or Segment?
South America Specialty Fertilizer Market Size Summary
The South America specialty fertilizer market is experiencing a robust expansion, driven by the increasing demand for efficient agricultural practices and the need to enhance crop yields. The market is characterized by a diverse range of products, including water-soluble and liquid fertilizers, which are gaining popularity due to their ease of use and effectiveness in nutrient absorption. The region's agricultural landscape, dominated by field crops such as soybeans, corn, and wheat, is witnessing a significant increase in cultivated areas, further propelling the demand for specialty fertilizers. The market is also seeing a growing interest in controlled-release fertilizers, particularly polymer-coated variants, as they offer innovative and environmentally friendly solutions for nutrient management.
Brazil and Argentina are key players in the South American specialty fertilizer market, with Brazil leading in soybean production and exports. The region's reliance on agriculture, coupled with challenges like climate risks and droughts, is driving the adoption of specialty fertilizers to ensure sustainable crop production. The market is moderately consolidated, with major companies like ICL Group Ltd, K+S Aktiengesellschaft, and Yara International ASA playing significant roles. Recent strategic acquisitions and product innovations, such as Haifa Group's introduction of coated micronutrients, are expected to further strengthen the market's growth trajectory. As the demand for primary nutrients like nitrogen, phosphorus, and potassium continues to rise, the specialty fertilizer market in South America is poised for continued expansion.
South America Specialty Fertilizer Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Speciality Type
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1.1.1 CRF
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1.1.1.1 Polymer Coated
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1.1.1.2 Polymer-Sulfur Coated
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1.1.1.3 Others
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1.1.2 Liquid Fertilizer
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1.1.3 SRF
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1.1.4 Water Soluble
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1.2 Application Mode
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1.2.1 Fertigation
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1.2.2 Foliar
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1.2.3 Soil
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1.3 Crop Type
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1.3.1 Field Crops
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1.3.2 Horticultural Crops
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1.3.3 Turf & Ornamental
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1.4 Country
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1.4.1 Argentina
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1.4.2 Brazil
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1.4.3 Rest of South America
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South America Specialty Fertilizer Market Size FAQs
How big is the South America Specialty Fertilizer Market?
The South America Specialty Fertilizer Market size is expected to reach USD 3.13 billion in 2024 and grow at a CAGR of 6.07% to reach USD 4.46 billion by 2030.
What is the current South America Specialty Fertilizer Market size?
In 2024, the South America Specialty Fertilizer Market size is expected to reach USD 3.13 billion.
