Foliar Spray Market by Competitor Analysis, Regional Portfolio, 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 size. 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 foliar sprays market growth. Low-cost
alternatives also pose a threat to market growth.
Key Players
Some of the global foliar spray key market players
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 overview 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.
Foliar
spray market in 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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