The foliar fertilizer global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Foliar Fertilizer Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The foliar fertilizer market size has grown strongly in recent years. It will grow from $10.42 billion in 2023 to $11.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increasing crop yields, rising demand for high-quality crops, government subsidies and support programs, growing awareness of soil health, and the expansion of agricultural land.
The foliar fertilizer market size is expected to see strong growth in the next few years. It will grow to $14.00 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising global populations, increasing global food demand, growing adoption of sustainable farming practices, increasing focus on reducing soil degradation, and growth in organic farming. Major trends in the forecast period include the development of nano-fertilizers for foliar application, the use of drone technology for precision foliar fertilizer application, advancements in spray nozzle technology, and the integration of foliar fertilizer applications.
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Scope Of Foliar Fertilizer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Foliar Fertilizer Market Overview
Market Drivers –
The growth in organic farming is expected to propel the growth of the foliar fertilizer market going forward. Organic farming is an agricultural method that relies on natural processes and inputs, avoiding synthetic chemicals and genetically modified organisms. The demand for organic farming is rising due to increasing consumer preference for pesticide-free and non-GMO foods and growing support for sustainable agricultural practices aimed at reducing environmental impact. Foliar fertilizers support organic farming by providing a rapid and efficient nutrient delivery method directly to plant leaves, enhancing growth and yields while complying with organic standards. For instance, in February 2024, according to the Research Institute of Organic Agriculture (FiBL), a Switzerland-based non-profit research institute, organic agricultural land expanded to over 96.4 million hectares in 2022, marking a 26.6% increase with an additional 20.3 million hectares compared to 2021. Therefore, growth in organic farming is driving the growth of the foliar fertilizer market.
Market Trends –
Major companies operating in the foliar fertilizer market are focusing on developing specialized fertilizer formulations, such as crop boosters and supplements, to enhance growth, yield, and stress resilience in plants. Crop boosters and supplements refer to products designed to enhance plant growth, yield, and overall health by providing additional nutrients, growth stimulants, or beneficial compounds beyond what is typically supplied by standard fertilizers. For instance, in June 2024, Yara Ghana Limited, a Ghana-based provider of sustainable crop nutrition solutions, launched YaraVita CropLift Bio, a new foliar fertilizer aimed at enhancing crop yields and improving fruit quality across various crops such as maize, rice, cocoa, and vegetables. YaraVita CropLift Bio is enriched with essential nutrients such as nitrogen, phosphorus, and potassium (NPK), zInc., boron, and magnesium, designed for direct leaf application to ensure immediate nutrient absorption.
The foliar fertilizer market covered in this report is segmented –
1) By Type: Nitrogenous, Phosphatic, Potassic, Micronutrients
2) By Physical Form: Solid, Liquid
3) By Nature: Mineral, Organic
4) By Application: Field Crops, Horticultural Crops, Turfs And Ornamentals, Other Applications
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Regional Insights –
Europe was the largest region in the foliar fertilizer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foliar fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the foliar fertilizer market are Koch Industries, BASF SE, Syngenta Group, Bayer CropScience AG, Yara International ASA, The Mosaic Company, Ecolab Inc., Sociedad Química y Minera de Chile SA, ICL Group Ltd., J.R. Simplot Company, UPL Limited, K+S AG, FMC Corporation, EuroChem Group, Helena Agri-Enterprises LLC, Hydrite Chemical Co, Haifa Group, Tata Chemicals Limited, Stoller USA, Coromandel International Ltd., Indian Farmers Fertiliser Cooperative Limited, Aries Agro Limited, OMEX Agriculture Ltd., Artal Smart Agriculture, Nippon Soda Co. Ltd.
Table of Contents
1. Executive Summary
2. Foliar Fertilizer Market Report Structure
3. Foliar Fertilizer Market Trends And Strategies
4. Foliar Fertilizer Market – Macro Economic Scenario
5. Foliar Fertilizer Market Size And Growth
…..
27. Foliar Fertilizer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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