Analysis of Foliar Fertilizers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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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.
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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.
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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.
Fact.MR has segmented the foliar fertilizers market on the basis of composition, crop, nature, and region.
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The global market is set to grow with the average CAGR of 4% by the end of forecast period.
The global market is segmented on the basis of composition, crop, nature, and region.
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