The Global Foliar Fertilizer Market is projected to register a CAGR of 5.95%. Key Highlights. Largest segment by Type - Nitrogenous : Nitrogenous fertilizers like UAN which is less prone to leaching are preferred by farmers around the globe due to its less toxicity with no environmental pollution.
New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Foliar Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381446/?utm_source=GNW
Fastest growing by Type - Nitrogenous : The nitrogenous foliar fertilizer market is the fastest growing due to technological advancements and increased growers focus on sustainability and precision farming.
Largest Segment by Crop Type - Turf & Ornamental : The increasing area under cultivation with increasing concern over pollution and growing ecotourism across the globe has increased the fertilizer demand for such crops.
Largest segment by Country - United States : The acidic nature and pH imbalances in soils of the United States raised the demand for foliar fertilizers, which can be applied directly on plant parts for easy absorption.
Foliar Fertilizer Market Trends
Field Crops is the largest segment by Crop Type.
The foliar method of fertilizer application accounted for 11.3% of the overall fertilizer market value in 2021. Field crops accounted for 83.65%, horticultural crops accounted for 11.2%, and turfs and ornamental crops accounted for the remaining 7.1% of the total fertigation fertilizers market in 2021. More than 90% of the world’s agricultural acreage is focused on the cultivation of field crops.
Asia-Pacific and European areas held a market share of 40.2% and 33.8%, respectively, for the usage of foliar fertilizers in field crops. South America accounted for a share of 22.0% in 2021. The use of foliar fertilizers is expanding due to their ease of application via foliar spraying techniques, which also have better efficiency of nutrient uptake.
With a market share of 28.9% and 23.64%, respectively, the Asia-Pacific and South American regions dominated the use of foliar fertilizers in horticultural crops in 2021. The Asia-Pacific region, which includes nations like China and India, is one of the regions with the highest fertilizer consumption rates and has a vast area dedicated to agricultural cultivation. According to the data, it accounted for 73.0% of the global area?under horticultural crop cultivation. Europe and North America came in second and third, with 16.0% and 2.0% of the market share.
Due to the presence of a large number of golf courses and private lawn areas, the North American region is crucial for the turf and ornamental foliar?fertilizer segment. Turf grass? covers 5.0 million ha of land in the United States, which includes all stadiums, lawns, and parks.
Therefore, the global consumption of foliar fertilizers in respective crop types is anticipated to grow during the forecast period.
Europe is the largest segment by Region.
Foliar application of fertilizers has long been practiced in many crops, particularly in cereal and horticulture crops globally.
Europe dominated the foliar fertilizers market, accounting for 31.4% of the market share in 2021. It grew by 10.4% during the study period. Soil micronutrient deficiencies significantly affect crop yield and quality in many areas in Europe, such as manganese, zinc, and iron soil deficiencies are noted. Empirical studies have shown that 60.0% and 28.0% of the regional soil contained lower than-adequate levels of iron and zinc, respectively. It will drive the market in the region during the forecast period.
The Asia-Pacific foliar fertilizer market witnessed stable growth during the study period, with an overall value amounting to USD 5.99 billion in 2021 with a consumption volume of 12.4 million metric ton. Field crops occupied the highest share of 83.1%, valued at USD 4.98 billion in 2021.
Among the countries, China dominated the APAC region, accounting for 43.1% of the market share. In China, farmers extensively apply zinc and iron to paddy fields to enhance crop yields. The foliar application of micronutrients is also widely practiced for fruits and vegetables in China to improve the quality of the crop.
South America accounted for 18.0% of the global foliar market. The market for foliar applications in the region has increased by 36.0% during the study period, and the consumption by volume has increased by 52.4%. The market is estimated to register a CAGR of 6.7% during the forecast period.
The adoption of precision farming and protected agriculture and a rise in demand for soil micronutrients in agricultural yield is anticipated to boost the demand for foliar fertilizers globally.
Foliar Fertilizer Market Competitive Analysis
The Global Foliar Fertilizer Market is fragmented, with the top five companies occupying 20.00%. The major players in this market are Haifa Group., ICL Specialty Fertilizers, IFFCO, Sociedad Química y Minera (SQM) and Yara North America (sorted alphabetically).
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