Foliar Spray Market Research with Segmentation, Growth, and Forecast 2030
Foliar Spray Market Overview
The market size of foliar spray was
estimated to be USD 9.79 billion in 2022, which is projected to increase to USD
9.7 billion by 2030, growing at a CAGR of 5.6%. The CAGR in the forecast period
2022-2030.
Foliar spray is the most efficient method
to provide liquid fertilizers to plants. By this method, liquid fertilizers are
applied to the leaves. The liquid fertilizers provide micronutrients to the
plants and are absorbed through the epidermis of the leaves. Foliar sprays are
applied to the plants during the vegetative or the generative stages. Foliar
sprays increase plant yield, increase resistance against plant diseases and improve
the quality of the plants.
An increase in the cultivation of crops and
other agricultural activities, especially in developing countries, and the
increasing adoption of modern farming practices have led to increased demand
for foliar sprays and a consequent increase in the foliar
sprays market share. More innovations in the technology to manufacture
foliar sprays by the leading companies and more R&D investments to produce
more effective foliar sprays are also major growth drivers.
Insufficient supply of raw materials to
manufacture foliar sprays and high research and development costs associated
with foliar sprays are growth dampeners. Concerns about toxicity and strict
environmental regulations also slow the market growth of foliar sprays.
Low-cost alternatives also pose a threat to market growth.
Key Players
Some of the prominent players in the global
foliar spray market are Coromandel International Limited (India), Yara
International ASA (Norway), GSFC Ltd (India), Nutrien Ltd (Canada), EuroChem
Group AG (Switzerland), K+S KALI GmbH (Germany), Israel Chemicals Ltd (Israel),
the Mosaic Company (US), TRIBOdyn AG (Germany), Haifa Group (Israel), Lima
Europe NV (Belgium), and Hebei Monband Water Soluble Fertilizer Co., Ltd
(China).
Market Segmentation
The foliar
spray market research report is divided into nitrogenous, potassic,
calcium, phosphatic, and other categories based on product type. The
nitrogenous segment holds the largest share in the market and is projected to
register the highest CAGR in the forecast period. This is mainly because of the
high demand for nitrogenous fertilisers because they increase crop yields.
Based on application, the foliar spray
market is divided into field crops, horticultural crops, turfs, ornamentals,
and others. The horticultural crops segment accounts for the largest market
share and is projected to register the highest CAGR in the forecast period.
This is because horticultural crops include a wide range of fruits, vegetables,
tuber crops, medicinal crops, and aromatic crops, which are widely grown, used,
and exported. The rising consumption of fruits and vegetables is another major
reason.
Regional Insights
The global foliar spray market is divided
into North America, Asia Pacific, Latin America, Europe, and the Middle East
and Africa.
Europe has the largest foliar spray market
share, followed by North America, due to the developed agricultural industry
and advanced farming practises in these regions. However, the Asia Pacific
region is projected to register the highest CAGR for the foliar spray market
size in the forecast period due to the focus on increasing the agricultural
output to meet the demands of the rising population, especially in India and
China, and the presence of many major foliar spray companies in the region.
Industry News
● Foliar
Spray manufacturer TRIBOdyn AG opened its new manufacturing facility in
Northeim in November 2017. This facility increased the company’s export
capacity of foliar sprays
Contact us:
Market Research Future (part of Wantstats Research and Media Private
Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States
of America
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