AFRICA SPECIALTY FERTILIZER MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for speciality fertilisers in Africa is anticipated to grow at a CAGR of 6.6 percent. A total of 42% of the value of the African fertiliser market, estimated at USD 20.17 billion in 2021, came from speciality fertilisers. Due to their greater efficacy, speciality fertilisers are being used more and more frequently. Specialty fertilisers are more expensive than regular fertilisers, nevertheless.

The region's speciality fertiliser market, estimated at USD 9.41 billion in 2021, was dominated by water-soluble fertilisers, which accounted for 46% of the overall market value. Depending on the need, water-soluble fertilisers can be applied through foliar, fertigation, or soil methods.

Controlled-release fertilisers made up 6.81% of the specialised fertiliser market's overall value in 2021, which was estimated to be worth USD 1.37 billion. Field crops dominated the market for controlled-release fertilisers in 2021, contributing 92% of the market's overall value.
The value of the slow-release fertiliser industry in the region, which made up 2.73% of the entire value of the African speciality fertiliser market in 2021, is extremely fragmented.
During the forecast period, it is anticipated that the specialty fertiliser market in the region will be driven by the benefits of using specialty fertilisers, such as a reduced rate of application, the precise release of nutrients, and other financial benefits to the farmer.

90% of the market for speciality fertilisers in Africa was in the rest of the continent. Water-soluble fertilisers account for 46.51% of the speciality fertiliser market in the rest of Africa, followed by liquid fertilisers at 43.12%, controlled-release fertilisers at 7.34%, and slow-release fertilisers at 3.01% of the overall value in 2021. With growing knowledge among farmers, it is projected that the market for coated-type controlled-release fertilisers would expand more quickly.

Major Players:  Foskor, ICL GROUP LTD, K+S AKTIENGESELLSCHAFT, UPL Limited and Yara International ASA

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