The Latin America, Middle East and Africa Specialty Fertilizers Market would witness market growth of 6.9% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 9,572.5 kilo tonnes, showcasing a growth of 4.7% (2024-2031).
The application outlook for foliar fertilization in the specialty fertilizers market is promising, driven by its efficiency, flexibility, and ability to deliver nutrients directly to plant leaves for rapid absorption. Foliar fertilization involves applying liquid fertilizers directly onto the leaves of plants, where they are absorbed through stomata or through the leaf cuticle. Therefore, the Brazil market would utilize 797.31 kilo tonnes of specialty fertilizers for foliar fertilization by the year 2031.
The Brazil market dominated the LAMEA Specialty Fertilizers Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,135.1 million by 2031. The Argentina market is registering a CAGR of 7.3% during (2024 - 2031). Additionally, The Egypt market would showcase a CAGR of 6.3% during (2024 - 2031).
As cities expand, there is a growing emphasis on urban green spaces, landscaping, and beautification projects to enhance livability and environmental sustainability. It is formulated for turf, ornamental plants, and landscaping applications are in demand for maintaining healthy green spaces in urban environments. These fertilizers can promote lush foliage, vibrant blooms, and disease resistance, contributing to urban landscapes' aesthetic appeal and ecological function. For instance, according to the report by the World Bank updated in 2023, 56% of the world’s population, or 4.4 billion people, live in cities. By 2050, nearly 7 out of 10 individuals will reside in cities, representing more than doubling the current urban population.
Urban agriculture initiatives such as rooftop gardens, community gardens, and urban farming cooperatives are gaining popularity in many cities. It optimized for container gardening raised beds and urban agriculture applications are essential for supporting plant growth and productivity in these settings. Expanding urban gardening and community-based agriculture projects create opportunities for specialty fertilizer companies to develop tailored products and services for urban growers and gardeners.
Brazil is a major producer and exporter of cereal crops such as corn, soybeans, and wheat. It offers advanced formulations and precision nutrient management solutions that can help optimize cereal crop yields, improve grain quality, and enhance agricultural productivity in Brazil. Advances in agricultural technology and precision farming techniques drive the adoption of specialty fertilizers in Brazil. According to the data released by the World Bank, cereal crop production in Brazil increased 112,220,283 metric tons in 2021. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide Specialty Fertilizers Market is Projected to reach USD 53.4 billion by 2031, at a CAGR of 6.0%
Based on Crop Type, the market is segmented into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Others. Based on Application, the market is segmented into Fertigation, Foliar, and Soil. Based on Technology, the market is segmented into Water-soluble Fertilizers, Controlled-release Fertilizers, Liquid Fertilizers, Micronutrients, and Others. Based on Type, the market is segmented into Urea Ammonium Nitrate, Calcium Ammonium Nitrate, Monoammonium Phosphate, Sulfate of Potash, Potassium Nitrate, Urea Derivatives, Blends of NPK, and Others. Based on countries, the market is segmented into Brazil, Argentina, Egypt, Morocco, South Africa, Nigeria, and Rest of LAMEA.
By Crop Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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