Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Global Foliar Fertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global foliar fertilizer market, as comprehensive data indicates, is on a significant upward trend with the market size estimated at USD 20.18 billion in 2024. It is expected to propel forward, reaching a projected value of USD 28.59 billion by 2030. This growth trajectory is set at a steady compound annual growth rate (CAGR) of 5.98% across the forecast period from 2024 to 2030.
Segment Performance Insights
Delving into market specifics, the nitrogenous foliar fertilizer category holds precedence as both the largest and fastest-growing type segment within the market. This ascendancy is attributed to the less toxic nature of nitrogenous fertilizers like UAN, which also exhibit minimal environmental pollution concerns. Additionally, the heightened focus on sustainable agriculture and precision farming is propelling the demand for such foliar fertilizers. Within the crop type segmentation, turf and ornamental crops have gained the spotlight, driven by expanding cultivation areas, environmental concerns, and the burgeoning ecotourism sector internationally. Regionally, the United States stands out for its considerable market share due to soil characteristics that are compatible with foliar fertilizer application.
Emerging Market Trends
The method of foliar fertilizer application has carved out a notable 11.3% of the overall fertilizer market value and is gaining traction due to its efficiency in nutrient uptake. With over 90% of agricultural acreage dedicated to field crops, this segment remains dominant and exhibits robust growth potential through the forecast period. Asia-Pacific and European regions are notable for the high percentage utilization of foliar fertilizers, with significant market shares in both field and horticultural crop applications. The Asia-Pacific area stands as a leading consumer in the horticultural segment, substantiated by an enormous cultivation area within prominent agricultural nations such as China and India. North America's significant usage of foliar fertilizers in turfs and ornamentals is noteworthy, related to the extensive deployment of turf grass across various landscaped domains.
Regional Dominance and Projections
Europe emerges as a commanding force in the foliar fertilizers landscape, contributing to a substantial market share. The region's growth is influenced by the prevalence of soil micronutrient deficiencies affecting crop yields and quality. The Asia-Pacific region is also experiencing promising growth, with China at the helm of market share for this region. South America's market has expanded significantly in recent years and is forecasted to register a CAGR of 6.7% during the period under analysis.
Industrial Landscape Overview
The Global Foliar Fertilizer Market stands as a fragmented industry with the top five companies occupying 20% of the market. Key players include a host of established organizations actively engaged in this dynamic market space.
A selection of companies mentioned in this report includes, but is not limited to:
- Compo Expert
- Haifa Group.
- ICL Specialty Fertilizers
- IFFCO
- Koch Fertilizer LLC
- Sociedad Química y Minera (SQM)
- The Mosaic Company
- UPL Limited
- Yara North America
For more information about this report visit https://www.researchandmarkets.com/r/9pod9r
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