Mexico Specialty Fertilizer Market to Grow with a CAGR of 4.90% through 2028

Growth in research and development activities is expected to drive the Mexico Specialty Fertilizer Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Mexico Specialty Fertilizer Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Mexico Specialty Fertilizer Market stood at USD388.02 million in 2022 and is anticipated to grow with a CAGR of 4.90% in the forecast period, 2023-2028. The initiatives taken by government based on specialty fertilizer has led to favorable market conditions for the Mexico Specialty Fertilizer Market. Several factors contribute to the growth of various specialty fertilizer market products.  The government's National Fertilizer Programme is a crucial and impactful initiative aimed at addressing the pressing issue of low availability and affordability of fertilizers for small-scale farmers. Through this program, qualifying farmers will have access to a substantial allocation of up to 600 kilograms of fertilizers, enabling them to enhance their agricultural productivity and yield. By ensuring the accessibility of national fertilizers at competitive prices, the government aims to support and uplift the farming community, fostering sustainable agricultural practices and economic development. In addition to the National Fertilizer Programme, the government has taken further strides to support farmers by launching a program that provides free fertilizers. Recognizing the significance of this initiative, the government has expanded its scope to encompass more states, including the state of Campeche. This expansion will greatly benefit farmers in Campeche and contribute to the overall growth and prosperity of the agricultural sector in the region. Through these comprehensive measures, the government is actively working towards creating a conducive environment for farmers to thrive and ensuring food security for the nation.

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In Mexico, several collaborative initiatives have been undertaken to boost research and development (R&D) in the specialty fertilizer sector. Alongside efforts to develop capabilities for supplying downstream specialty products, the industry is actively working towards creating value-added solutions that can effectively address the evolving needs of Mexico's diverse agricultural sector. These initiatives are driven by the goal of enhancing productivity, sustainability, and competitiveness in the agricultural industry. Furthermore, Mexican institutions and agribusiness companies are increasingly forging partnerships with international organizations to tap into global expertise and foster a culture of innovation in the sector. These collaborations aim to leverage the latest advancements and best practices from around the world, ultimately driving the growth and transformation of Mexico's specialty fertilizer industry.

The Mexico Specialty Fertilizer Market is segmented in crop type, technology, regional distribution, and company.  Based on its technology, the coated & encapsulated segment held the largest share in the market. While the initial cost of these fertilizers may be higher, their efficient nutrient use can result in overall cost savings for farmers in the long run. By effectively delivering essential nutrients to crops, these fertilizers promote healthy growth and maximize yield potential. Additionally, their advanced formulations help minimize nutrient losses due to leaching or volatilization, ensuring that the applied nutrients are effectively utilized by the plants. This not only benefits the farmers' bottom line but also contributes to sustainable agriculture practices by reducing environmental impacts. Based on region, Central Mexico segment is expected to grow during the forecast period. The Mexican Government's National Fertilizer Programme is an initiative aimed at making fertilizers more accessible and affordable for farmers across the country. With its focus on enhancing agricultural productivity, the program has identified Central Mexico as a key beneficiary due to its significant agricultural region and high demand for specialty fertilizers. To further support this program, the government has been actively exploring various strategies to boost national fertilizer production. By investing in research and development, implementing sustainable practices, and fostering partnerships with local farmers, the aim is to enhance the availability of specialty fertilizers in Central Mexico and ensure long-term agricultural sustainability.

Major companies operating in Mexico Specialty Fertilizer Market are:

• Nouryon Chemicals S.A. De C.V.
• Compo Expert Mexico S.A. de C.V.
• Fertinagro Biotech SL
• Nutrien Ltd.
• SQM Mexico SA de CV

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“Growing application of specialty fertilizer in various end user industries are key drivers of the specialty fertilizer market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of specialty fertilizer with every passing year are anticipated to register an impressive growth to Mexico Specialty Fertilizer Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Specialty Fertilizer Market By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Technology (Slow-Release, N-Stabilizers, Coated & Encapsulated, Chelated, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, 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 cutting-edge 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 Specialty Fertilizer Market.

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