Foliar Fertilizers to Gain Traction as Multi-functionality and Versatility Underpins Its Demand
Foliar fertilizers are an excellent alternative to provide nourishment to plants and many more benefits as it can be applied directly to the leaves of plants and crops. Foliar fertilizers market is accelerating on the back of efficient nutrient absorption along with high resistivity towards insects and pests.
The presence of plant cell growth regulators like gibberellins, cytokinins and auxins are underpinning the demand for foliar fertilizers thus propelling the global market to grow at an average annual growth rate of ~4% over the assessment period of 2019-2029.
Foliar Fertilizers Market Poised to Grow with Product Innovations Showing Boundless Potential
The global foliar fertilizers market is relatively fragmented, with the presence of some big players in the fertilizer industry including Yara International ASA, Israel Chemicals Ltd., EuroChem Group AG, Helena Agri-Enterprises, LLC etc.
The foliar fertilizer market has witnessed significant advancements, with market players focusing towards improving both quality and activity.
Furthermore, stakeholders in the foliar fertilizers market are focusing on technological advancements, product innovation, and the adoption of a new type of blended fertilizer in order to find a cost-effective solution.
Market players are also engaging in long-term supply contracts and collaborations throughout the value chain.
- For instance, on 13th September 2019, Yara in collaboration with Lantmännen, a Northern European company launched a pilot project with the goal to introduce a fossil-free food chain.
- The product is expected to be launched in the market by 2022. It has the goal of reducing carbon footprint by using renewable energy sources to manufacture mineral fertilizers. As a result of all these factors, market players are maintaining a good balance between organic and inorganic growth strategies.
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Demand for Micronutrients in Foliar Fertilizer Market to Spiral as Arable Land Rapidly Shrinks
The global population is set to surpass ~9.7Bn by 2050. Urbanization and demand for infrastructural developments will shrink the areas of arable land.
The per-capita arable land will decrease from 0.25 per hectare to 0.19 hectare per person between 2010 and 2050.This will further fuel the growth of the foliar fertilizers market throughout the forecast period.
The only viable option will be to increase crop yield by optimizing the use of fertilizers and implementing new techniques to boost crop yield. This is expected to encourage the adoption of foliar fertilizers in the foreseeable future.
Government Initiatives to Shape Regional Landscape of Foliar Fertilizers Market
Government initiatives across the globe for sustainable agriculture will bolster the growth of the foliar fertilizers market throughout the forecast period. For instance, National Mission for Sustainable Agriculture (NMSA) in India, changes in EU farm policy and Agricultural Risk Coverage by United States are some of the examples of government initiatives that are propelling the sales of foliar fertilizers.
Furthermore, as per China’s National Bureau of Statistics, China’s foreign investment in farming, forestry, and fishing has grown fivefold from 2010 to 2018. Attributed to all these facts agriculture sector will show steady growth over the forecast period, propelling the foliar fertilizers market.
APEJ (Asia Pacific excluding Japan) has dominated the foliar fertilizers market and is set to continue its supremacy over the forecast period. The market is set to create an incremental opportunity of US$ 344 Mn by the end of 2029. There are ample opportunities for market growth in developing nations such as Africa, India, Indonesia, and others where consumers are suffering from malnutrition and the demand for food is rising. Manufacturers can now launch low cost foliar fertilizers products in developing regions, where they can gain substantial profits and capture huge market shares on the back of increasing population.
North America and Latin America together account for a quarter of the demand in foliar fertilizers market. Being a mature market, Europe is set to grow with an average growth rate of 3.4% during the forecast period.
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Foliar Fertilizers Market: Segmentation
Fact.MR has segmented the foliar fertilizers market on the basis of composition, crop, nature, and region.
Foliar Fertilizers Market - Scope of the Report
The foliar fertilizers market study conducted by Fact.MR offers exclusive information about how the market is anticipated to grow during the forecast period of 2019 - 2029. The study predicts crucial trends that are determining the growth of the foliar fertilizers market.
This newly published report sheds light on vital dynamics, such as drivers, restraints, and opportunities for key market players as well as emerging players associated with the manufacturing of foliar fertilizers.
The report primarily conveys a summary of the market, considering the present and upcoming agricultural industry scenarios to reveal striking insights related to the adoption of foliar fertilizers across prominent regional markets.
A detailed assessment of the market supply chain analysis, business execution, and value chain analysis across the regional markets have been provided in the report. A list of prominent companies operating in the foliar fertilizers market enhance the reliability of this comprehensive research study.
Foliar Fertilizers Market: Report Summary
The study offers an inclusive analysis on diverse features including demand, revenue generation, and sales by key players in the foliar fertilizers market across the globe.
A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.
Foliar Fertilizers Market: Analysis on Market Size Evaluation
Existing predictions of the foliar fertilizers market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.
The market estimation at the regional and global scale of foliar fertilizers is available in terms of “US$ Mn”. A Y-o-Y growth contrast of the prominent foliar fertilizers market segments, along with market attractiveness valuation computes are included in the report. Metrics mentioned above are also based on foliar fertilizers applications, where foliar fertilizers witness a steady demand.
Foliar Fertilizers Market: Scrutinized Assessment on Regional Segment
The weighted sections have been elaborated in the report of the foliar fertilizers market, which deliver projection on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a significant influence on the growth of the foliar fertilizers market during the forecast period.
Country-specific valuation on demand for foliar fertilizers has been offered for each regional market, along with market scope estimates and forecast, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Foliar Fertilizers Market: In-depth Analysis on Competitive Landscape
The report offers the competitive scenario of the foliar fertilizers market, along with profiles of prominent companies contributing to market expansion.
Essential and up-to-date data as well as information correlated to market performers, who are principally engaged in the production and supply of foliar fertilizers, have been presented with the help of a detailed dashboard view. The market share analysis and comparison of prominent players provided in the report permits readers to take effective steps in advancing their businesses.
Company profiles have been combined in the report, which includes essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player.
The company’s presence is mapped and presented through the matrix for all prominent players functioning in the foliar fertilizers market. It offers actionable insights to readers, which are thoughtfully presenting the market status, and predicting competition levels in the foliar fertilizers market.
Prominent companies operating in the global foliar fertilizers market include Coromandel International Limited, EuroChem Group AG, Grasshopper Fertilizer Company, Gujarat State Fertilizers & Chemicals Limited, Helena Agri-Enterprises, LLC, Israel Chemicals Ltd., K+S AG, Nachurs Alpine Solutions Inc., Nualgi America, Inc.¸OMEX Agrifluids Ltd., among others.
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