Foliar Spray Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMAG533 | Last Updated On: Jun 30 2022 | Available Formats

> Global Foliar Spray Market Expected to reach a high CAGR of 6.5% By 2029: DataM Intelligence

Global Foliar Spray Market is segmented By Type (Nitrogenous, Phosphatic, Potassic, Micronutrients), By Application (Horticultural Crops, Field Crops, Turfs & Ornamentals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Foliar Spray market is expected to grow at a high CAGR of  6.5% during the forecast period from 2022-2029.

  • The foliar spray is a method of feeding plants by spraying liquid fertilizer directly to their leaves and plants absorb essential elements through their leaves.

  • The plants absorb nutrients more efficiently when the fertilizers are applied to their leaves rather than in the soil. Due to this fact, the Foliar Spray market is expanding continuously.

Market Drivers and Restraints

  • The high efficiency of foliar sprays in comparison to conventional fertilizers, increasing awareness of foliar spray products in developing regions, and growing demand & consumption of horticultural crops like fruits and vegetables are some of the critical factors which are driving the Foliar spray market.

  • The expansion of organic and biofertilizers can act as a restraint to the foliar spray market.

Segment Analysis 

  • The Global Foliar Market report segments the market by type and application. By nature, the segment includes Nitrogenous, Potassic, Phosphatic, and Micronutrients.

  • The Nitrogenous is the leading segment. This can be attributed to the broad and increasing use of nitrogenous fertilizers in various crop applications.

  • Nitrogen is an essential nutrient required for plant growth; thus nitrogen-based fertilizers are applied to all major crops.

  • Based on application, the market can be segmented as Horticultural Crops, Field Crops, and Turfs & Ornamentals. Horticultural Crops is estimated to lead the market during the forecast period. Horticultural Crops include fruit & vegetable crops. As the awareness for nutritious food is increasing, the demand for fruits & vegetables is also growing, thereby increasing the need for foliar sprays. Also, the cultivation of horticultural crops in greenhouses is contributing to the increased application of foliar sprays.

  • The sales of horticulture products are continuously increasing in Canada; therefore the demand for foliar sprays will automatically grow.

Geography Analysis

  • The report segments the market based on geography as North America, Europe, Asia-Pacific, South America, and the Rest of the World. Europe is the largest consumer of foliar sprays.

  • It can be attributed to the well-established agricultural industry, high expenditure in the agriculture sector, and emphasis on adoption of advanced technologies & methods in farming in this region.

  • Another, reason for the high growth of foliar sprays in the area is the existing policies in this region over the periodic use of chemical fertilizers.

  • However, the bio-fertilizers which are being used as an alternative are not that effective, in such cases foliar sprays are being preferred which causes less harm to the environment and are more effective than conventional fertilizers.

  • Asia-Pacific region is the fastest-growing segment owing to the growing food demand to satisfy the need of a large growing population.

  • Also, the rising investments and initiatives by governments in countries like China and India in the agriculture sector are boosting the demand for Foliar Sprays.

Competitive Landscape

  • The Global Foliar Spray market report includes some of the key players including EuroChem Group AG, Nutrient, K+S Aktiengesellschaft, Yara International ASA, Israel Chemicals Ltd., The Mosaic Company, Gujarat State Fertilizers & Chemicals Ltd., Coromandel International Limited, TRIBOdyn AG, and Hebei Monband Water Soluble Fertilizer Co., Ltd.

Key market segments covered

By Type

• Nitrogenous

• Phosphatic

• Potassic

• Micronutrients

By Application

• Horticultural Crops

• Field Crops

• Turfs & Ornamentals

By Region

• Asia Pacific

• Europe

• North America

• South America

• Rest of the World

 

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