Industry News

Development of the U.S. specialty fertilizer market in 2024

The U.S. specialty fertilizer market size was estimated at USD 6.72 billion in 2024 and is expected to reach USD 9.17 billion by 2030, registering a CAGR of 5.32% during the forecast period (2024-2030).

Highlights

1.Largest Segment by Type of Specialty Fertilizers - Liquid Fertilizers: The demand for liquid fertilizers has been increasing in the U.S. as liquid fertilizers are easy to apply and the liquid form improves nutrient uptake by plants.
2.Fastest Growing Type of Specialty Fertilizers - Slow-Release Fertilizers (SRFs): SRFs are relatively safe for the soil and environment as they precisely release nutrients into the soil throughout the growing season, thereby reducing nutrient leaching.
3.Largest Segment by Crop Type: Turf and Ornamental Crops: Turf and ornamental crops account for a large share in the U.S., and the number of courses and golf courses in the U.S. that require nutrients is increasing.
4.Largest Segment by Mode of Application - Fertilization: Fertilization offers many advantages such as increased fertilizer uptake, reduced wastage and nutrient loss, lower labor costs, and ease of fertilization.

Liquid Fertilizers are the Largest Segment

The specialty fertilizer market in the U.S. grew by 47.33% during the study period due to its potential and improved market opportunities.
In 2021, liquid fertilizers, water-soluble fertilizers, and controlled-release fertilizers (CRFs) accounted for 18.4%, 17.05%, and 6.68% of the market share, respectively. The U.S. liquid fertilizer market grew significantly by 25.46% during the study period. High adoption of precision farming, ease of application, and availability of trucks are expected to drive further growth in the liquid fertilizer market during the forecast period.
The demand for water-soluble fertilizers in the U.S. is driven by a wide range of nutrient grades and different application methods such as foliar fertilization, fertigation, and soil fertilization as per demand. The share of water-soluble fertilizers grew by 24.96% during the study period.
The evolving micro-irrigation system in the U.S. is also expected to boost growth in the segment. In 2017, the total irrigated cultivated land reached 58 million acres, and liquid fertilizers improve nutrient replenishment efficiency due to their uniform distribution and high nutrient utilization.

Thus, the increasing government focus towards reducing the environmental impact of excessive accumulation of conventional fertilizers coupled with rising technological and scientific advancements is expected to drive the specialty fertilizers market during the forecast period.