Foliar Fertilizer Market: Global Industry Overview and Forecast (2024-2030)

Foliar Fertilizer Market Overview:

The Foliar Fertilizer market was valued at USD 7.76 billion in 2023, and is expected to grow at a CAGR of 5.4 % to USD 11.22 billion by 2030. 

 

The Foliar Fertilizer Market is studied by segments like Type (Nitrogenous, Phosphatic, Potassic, Micronutrients), Application (Horticultural Crops, Field Crops, Turfs & Ornamentals, Others) and Region (North America, Europe, Asia-Pacific, and Rest of the World). The report consists of the Trend, Forecast, Competitive Analysis, and Growth Opportunities of the market.

 

For the forecast period of 2024 to 2030, the report provides a complete analysis that reflects today's Foliar Fertilizer Market realities and future market prospects. To provide a comprehensive perspective of the market, the research segments and analyses it in great detail. The key data and observations offered in the study can help market participants and investors identify low-hanging fruit in the market and build growth strategies.

 

 

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Covid-19 Impact:

Foliar fertilizers are nutrients sprayed on plants during the vegetative and generative stages (flowering, fruit set, and maturity). COVID-19 has influenced crop maturity and harvest. A majority of farmers were skeptical to leave their homes because of lockdown laws and stay-at-home mandates. Agricultural labour shortages have exacerbated their problems.  The agricultural sector has been hit hard by the lockdown, which comes at a time when crops like paddy, maize, red jowar, chillies, and tomato, as well as horticultural goods like banana, musk melon, watermelon, sweet lime, pomegranate, grapes and papaya, are ready to harvest. The Foliar Fertilizer market's consumption and demand have declined as a result of all of the following issues.

 

Foliar Fertilizer Market Dynamics:

High Efficiency: Foliar fertilizers guarantee that micronutrients are applied uniformly to plants with minimal waste. Foliar Fertilizering refers to the application of fertilizers directly to the plant's leaves. This approach is quite effective, and it improves the quality of the crops. The ultimate purpose of foliar fertilizer is to provide the required amount of nutrients to plants through the leaves while avoiding soil toxification due to overfertilization. The unique benefits of foliar fertilizers, such as simplicity of application, consistent fertiliser distribution, and enhanced agricultural output, have led to increased demand for these spray solutions in lawns and gardens, adding to the foliar fertilizer market's rise.

 

The growing number of indoor farms, limiting arable land, and the instant impact of foliar fertiliser treatment on plants are the primary reasons driving the foliar fertiliser industry. In India, for example, a startup vertical farm called Urban Kissan was established in 2017. With 25,000 sq. ft. in 12 separate locations and a capacity to produce 10,000 lettuce heads per day, Japan boasts one of the world's greatest vertical farming capacities. The foliar fertilizer market is expected to grow during the forecast period as a result of rising demand and active participation by key players.

 

Limited Land: Rapid industrialization with the growth and trend of new construction in countries around the world have resulted in a major decline of arable land over time. Due to the eradication of grass and weeds, an increase in pastures for cattle feed and bio-based chemical feedstock has resulted in a decrease in arable land. Farmers have been compelled to make the best use of the land available for agriculture due to a decline in arable land and a rise in demand for agricultural products. The necessity to generate high-yield crops has prompted the usage of effective fertilisers, such as foliar fertilisers, boosting the foliar fertilizer market and its growth potential.

 

Through the forecast period, government initiatives for sustainable agriculture will support the growth of the foliar fertilisers market. Government programs such as India's National Mission for Sustainable Agriculture (NMSA), changes in EU agriculture policy, and the United States' Agricultural Risk Coverage are just a few examples of government measures that are driving foliar fertilizer sales. Furthermore, China's foreign investment in agriculture, forestry, and fishery has increased fivefold in the recent years, according to the National Bureau of Statistics. Because of all of these factors, the agriculture industry is expected to increase steadily over the forecast period, boosting the foliar fertilisers market forward.

 

Organic Food Industry:  Because of increased awareness about health, environmental protection, food safety, and animal welfare improvements, the organic food business has seen tremendous expansion in emerging economies. In agriculture, organic practices limit the usage of artificial fertilisers, which are replaced with organic manures to deliver significant nutrients to plants. Organically generated agricultural outputs command a higher price than conventionally produced ones, prompting farmers to consider switching to organic farming. Chemical fertiliser use has decreased as a result of growing organic agricultural techniques and increased demand for chemical-free products, preventing the growth of the foliar fertilizer market.

 

Price Fluctuations: The foliar fertilizers market is heavily controlled. Countries with a tight supply-demand situation use bans to discourage fertiliser exports. Manufacturers are unable to expand their firms due to frequent changes in trade policies. The impact of China's export policies on local producers has an impact on supply and global trade dynamics. These reasons contribute to price volatility in Foliar Fertilizer products, offering a hurdle to the Foliar Fertilizer market's growth.

 

Foliar Fertilizer Market Segment Analysis:

Based on Type, the foliar fertilizer market is classified into Nitrogenous, Phosphatic, Potassic and Micronutrients. Amongst all the other macro- and micro-elements needed for plant growth, nitrogen is the most commonly ingested. Nitrogen is commonly available in the form of ammonium nitrate, urea, ammonium sulphate, and calcium nitrate. Plant nutrition can be provided by a variety of nutritional combinations. The nitrogenous type of the Foliar Fertilizer market was the largest type segment in 2023 and is expected to grow at the fastest CAGR over the forecast period. This expansion can be due to an increase in demand for nitrogenous fertilisers from diverse farms, as these fertilisers help to increase productivity and yield when applied to any crop.

 

 

Based on Application, the foliar fertilizer market is classified into Horticultural Crops, Field Crops, Turfs & Ornamentals, Others. Fruit crops, tuber crops, vegetable crops, medicinal and aromatic crops, and spices are all included in the horticultural industry. With increased understanding of their nutritional benefits, fruits and vegetables have become an integral element of people's daily dietary intake. Fruit consumption increased by double digits between 1990 and 2020, and this trend is expected to continue throughout the forecast period. Fruit and vegetable production levels have increased as a result of the great export potential of these products. In terms of value, the Foliar Fertilizer market's horticultural crop segment of application is expected to increase at the fastest rate during the forecast period.

 

Foliar Fertilizer Market Regional Analysis:

Based on region, the APAC region is estimated to grow at a higher CAGR than other regions. Because of their growing populations, emerging nations such as India and China are concentrating on boosting their agricultural output. Foliar Fertilizer is one of the most cost-effective fertiliser application methods, and it is frequently used in this region. The market in this region will rise due to rising demand for food goods and limiting agricultural resources in these countries. As a result, the Asia Pacific Foliar Fertilizer market is expected to develop at the fastest rate over the forecast period.

 

 

To understand the Foliar Fertilizer Market and study the market trends. Focusing on the Food Foliar Fertilizer, knowing the drivers and challenges of the same. Understanding the market segment geographically to gauge the growth potential.

 

The report includes analytical models like the Porter’s Five Forces, which helps in understanding the operating environment of the competition in the Foliar Fertilizer Market and thereby study the stakeholders to derive an efficient strategy; and PESTLE Analysis to gain a macro perspective of the Foliar Fertilizer Market in terms of political aspects like Government stability, policies, trade regulation and economic aspects like market trends, taxes and inflation. It also provides the effect of environmental factors and influence of social and legal aspects on the Foliar Fertilizer Market.

 

Foliar Fertilizer Market Scope:

Foliar Fertilizer Market
Market Size in 2023	USD 7.76 Bn.
Market Size in 2030	USD 11.22 Bn.
CAGR (2024-2030)	5.4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type Nitrogenous Phosphatic Potassic Micronutrients
	by Application Horticultural Crops Field Crops Turfs & Ornamentals Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Foliar Fertilizer Market Key Players:

• Nutrien (Canada)
• Apache Corporation (USA)
• Arab Potash Company Plc (Jordan)
• Aries Agro Limited (India)
• Coromandel International Limited (India)
• Eurochem (Switzerland)
• Gujarat State Fertilizers And Chemicals Limited (India)
• Haifa Chemicals Limited (Israel)
• Israel Chemicals Limited (Israel)
• K+S (Germany)
• Kuibyshevazot (Russia)
• Orascom Construction Industries Sae (Egypt)
• Petroleo Brasileiro (Brazil)
• Potash Corporation Of Saskatchewan (Canada)
• Qatar Fertiliser Company (Qatar)