The growing population in the region and high nutrient concentration in fertilizers are the major drivers of the Mexico Specialty Fertilizer market. According to TechSci Research report, “Mexico Specialty Fertilizer Market – By Region, Competition Forecast & Opportunities, 2027”, the Mexico Specialty Fertilizer Market stood at USD376.68 million in 2021 and is expected to grow at a CAGR of 4.57% during the forecast period. Industrial gases are comprised of elements, molecular compounds, or mixtures.
The Important Aspects of Mexico’s Specialty Fertilizer Market
Specialty fertilizers are a rapidly expanding and diversified range of products with a variety of features and one or more ingredients of primary, secondary, or tertiary importance micro-nutrients. There are around 12 plant nutrients that are necessary for increasing plant yield. Specialty fertilizers differ from commodity fertilizers like urea, diammonium phosphate (DAP), and muriate of potash (MOP), as well as mixes of these, in that they are less commoditized, have “designer” qualities, and have a higher unit value.
Specialty fertilizers and their ability to bring the crop to its maximum output are all due to the high nutrient concentration in lesser volume as compared to organic fertilizers or manure. This potential of specialty fertilizers is the reason behind their ease of transportation and becoming a replacement for organic fertilizer. The space required for their storage also gets reduced, along with providing higher yields. These two-in-one benefits of specialty fertilizers are making the market strong enough for the future market. This will lead to replacing the other type of conventional fertilizer, which are not able to meet the current nutrient requirement of the farmlands.
The government of Mexico is ramping up the fertilizer production capacity of the country by building and maintaining the infrastructure to produce fertilizer. The government is capitalizing on the country’s existing fertilizer market, improving output in order to decrease reliance on foreign imports and deliver fair prices for staple crops such as corn, rice, and beans. The government is launching a program to supply farmers with free fertilizers, which will be expanded to include more states such as Campeche, Quintana Roo, Tabasco, and Veracruz.
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The Mexico Specialty Fertilizer Market segmentation is based on Crop Type, By Form, By Mode of Application, By Technology, and Regional Distribution.
Based on Crop Type, the market is further divided among Fruits & Vegetables, Cereals & Grains, Oilseeds and Pulses, Turf and Ornamentals, and Others. The fruits & Vegetables segment dominated the market in 2021 with an overall market share of around 34.68%. This can be ascribed to the growing population of the country.
Based on the Mode of Application the market is further divided into Fertigation, Foliar, and Soil. The Fertigation segment dominated the market in 2021 on account of the widespread use of fertilizers in the country.
Some of the major companies operating in the Mexico Specialty Fertilizer Market include:
- Nouryon Chemicals S.A. De C.V.
- Compo Expert Mexico S.A. de C.V.
- Fertinagro Biotech SL
- Nutrien Ltd.
- Yara Mexico S de RL de CV
- SQM Mexico SA de CV
- Haifa Chemicals Mexico SA de CV
- JCO Fertilizer S. de R.L. de C.V.
- ICL Group Ltd
- Coromandel Agronegocios de Mexico, S.A de C.V
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“An increase in the demand for precision farming as well to make the land arable will drive the market for specialty fertilizers as the terrain of Mexico is unsuitable for various crops. Also, the increased dependence on fertilizers impacts the soil quality, and specialty fertilizers will help in overcoming the concerns, thus making the market growth in the forecast time period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
“Mexico Specialty Fertilizer Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027 Segmented By Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals, Others), By Form (Dry, Liquid), By Mode of Application (Fertigation, Foliar, Soil), By Technology (Coated & Encapsulated, Slow-Release, Chelated, N-Stabilizers, and Others), By Region,” has evaluated the future growth potential of Mexico Specialty Fertilizer Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Mexico’s Specialty Fertilizer Market.
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