MarketsandMarkets Predicts Specialty Fertilizer Market Will be Worth $19,885 Million By 2020

MarketsandMarkets published a report titled “Specialty Fertilizers Market by Type (Monoammonium Phosphate, Monopotassiun phosphate, Potassium Nitrate, Potassium Chloride, Potassium Sulfate, Urea, UAN, and Others), by Crop Type & by Region – Global Trends & Forecast to 2020″ that projects the specialty fertilizer global market will reach $19,885 million by 2020.

As quoted in the press release:

The global market for specialty fertilizers is projected to reach $19,885 million by 2020, at a CAGR of 7.0% from 2015. North America dominated the global market. The Asia-Pacific region is projected to be the fastest-growing market, owing to the growing demand for food products in the region. In this region, China is projected to be the fastest-growing market for specialty fertilizers, followed byIndia. The turf & ornamentals segment is projected to be the largest and fastest-growing market for specialty fertilizers, globally, from 2015 to 2020. Growing cities in China are demanding urban green space as well as a cleaner environment. Urban green spaces including recreational and sporting venues such as golf courses and lawns and rising cultivation of high quality horticultural products demand specialty fertilizers that are efficient in safeguarding the environment.

Growing environmental concerns, rising demand for food, decreasing land availability, increasing health concerns, growing government support, and increasing private investments and venture funding to support new product developments are the key factors driving the growth of the Specialty Fertilizers Market across the globe.

Click here to read the full MarketsandMarkets press release.