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Global Secondary Macronutrients Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Secondary Macronutrients Fertilizer Market is projected to register a CAGR of 6.59%. Key Highlights. Fastest growing segment by Type - Sulfur : Depleting soil health, imbalances in the soil pH, and intensive cultivating methods of crops from allium and cruciferous groups limit the availability of sulfur in the soil.
New York, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Secondary Macronutrients Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381433/?utm_source=GNW
Largest Segment by Crop Type - Field Crops : Field crops are widely cultivated worldwide and are a staple food in many parts of the world. They account for a maximum share by area in most agricultural countries.
Largest Segment by Application Mode - Soil : Soil application is a convenient way of applying fertilizers without any equipment. This method of application helps in improving both plant health and soil fertility.
Largest segment by Country - India : Indian soils are deficient in S by 41%, and Ca and Mg deficiencies are also becoming prominent. The application of these fertilizers is increasing to maximize productivity.
Secondary Macronutrients Fertilizer Market Trends
Sulfur is the largest segment by Product.
In 2021, sulfur accounted for 50.6% of the global secondary macronutrient fertilizer market. In 2021, the value of the South American sulfur market was about USD 1.27 billion. In this market, specialty sulfur fertilizer accounted for a maximum market share of approximately 62.7%, and conventional sulfur fertilizer accounted for about 37.2%. The adoption of specialty sulfur fertilizer is more than other secondary macronutrients. The specialty sulfur fertilizer market is anticipated to reach USD 2.26 billion by the end of the forecast period.
Magnesium accounted for 42.8% of the global secondary macronutrient fertilizer market in 2021. Field crops accounted for a maximum share of 92.3%, followed by turf and ornamental crops and horticulture crops, holding shares of 7.4% and 0.3%, respectively. The largest fertilizer-consuming crops are wheat and corn, accounting for a total of 40.0% of the land area.
Calcium recorded 6.1% of the total value of the global secondary macronutrient fertilizer market, accounting for about USD 469.7 million in 2021. The Asia-Pacific region dominated the calcium fertilizer market and accounted for about 35.2% of the global calcium fertilizer market’s value, registering USD 192.4 million in 2021. The dominance of the Asia-Pacific region in the calcium fertilizer market is mainly due to the acidification of soils, which means the loss of base cations, such as calcium and magnesium, and replacement with acidic elements, like iron and aluminum complexes.
The demand for secondary macronutrient fertilizer is anticipated to grow during the forecast period, as the need for higher productivity is increasing due to the decline in the area under the cultivation of crops.
Asia-Pacific is the largest segment by Region.
Fertilizing with secondary macronutrients has a positive effect on crop yields. The need for calcium, magnesium, and sulfur has increased due to the demands from today’s high-yielding crop systems, and they are essential for plant productivity.
The Asia-Pacific region dominates the global secondary macronutrient fertilizer market, having accounted for 33.3% of the market value in 2021. In the Asia-Pacific region, sulfur accounts for the maximum market share of 47.5%, followed by magnesium, accounting for 45.7%, and calcium, accounting for 6.7% of the total secondary macronutrient market. Among all the countries, India dominated the market, accounting for a share of 39.7% in 2021.
In 2021, Europe accounted for the second-largest share (25.0%) of the global secondary micronutrient fertilizer market. Sulfur occupies the largest share in the secondary macronutrient fertilizer market, having accounted for about 61.9% of the total value in 2021. Russia dominated the European market, accounting for 17.7% of the market share in 2021.
The South American secondary macronutrient fertilizer market accounted for about 17.8% of the value of the global secondary macronutrient fertilizer market in 2021. Brazil dominated the secondary macronutrient fertilizer market and accounted for about 67.6% of the total regional market value, amounting to USD 947.8 million in 2021. This was mainly due to the large cultivational area across the country. Brazil accounted for about 61.8% of the total agricultural area in the region in 2021.
Secondary macronutrients are essential for balanced plant nutrition. Each nutrient has a specific role in determining the metabolism of plants. This situation is expected to drive the market during the forecast period.
Secondary Macronutrients Fertilizer Market Competitive Analysis
The Global Secondary Macronutrients Fertilizer Market is moderately consolidated, with the top five companies occupying 54.07%. The major players in this market are Coromandel International, Israel Chemicals Ltd., K+S AKTIENGESELLSCHAFT, The Mosaic Company and Yara International (sorted alphabetically).
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