Foliar Spray Market by Type (Nitrogenous, Phosphatic, Potassic and Micronutrients), Form (Powder and Liquid), Application (Horticultural Crops, Field Crops, Turfs & Ornamentals), Region ( North America, Europe, Asia- Pacific) - Global Forecast to 2028
Northbrook, IL 60062 -- (SBWIRE) -- 05/26/2023 -- The global foliar spray market is experiencing significant growth. With a forecasted increase from USD 7.3 billion in 2023 to USD 9.6 billion by 2028, the market is projected to grow at a compound annual growth rate (CAGR) of 5.5% during this period. This growth can be attributed to the rising global population and the increasing demand for food. Foliar spray, an innovative technique of applying nutrients and pesticides directly to plant leaves, offers numerous advantages over traditional soil-based fertilization methods. This article explores the reasons behind the growing popularity of foliar spray, its benefits, and the market dynamics driving its expansion.
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Advancements in Agriculture: The Micronutrients Foliar Sprays Segment
Micronutrients foliar sprays have emerged as a significant driver of the foliar spray market. These sprays, comprising specific compounds or combinations of micronutrients, have proven to be more efficient than soil applications. They improve plant internal processes, cell homeostasis, water relations, and productivity under abiotic challenges. Furthermore, foliar sprays supply nutrients directly to the leaves, ensuring easy absorption.
The demand for high-quality and nutritious crops has increased, leading to a surge in the use of foliar sprays. By providing essential micronutrients, these sprays enhance the quality of crops and meet consumers' expectations. Farmers have recognized the importance of micronutrients in plant growth and are adopting foliar sprays to supply these vital nutrients. Manufacturers are also investing in research and development, focusing on advanced foliar spray formulations that enhance nutrient uptake and absorption by plants. These advancements contribute to the growth of the foliar spray market.
Liquid Foliar Sprays: A Driving Force in 2023
The liquid foliar sprays segment holds a significant share in the foliar spray market, driving its growth in 2023. These sprays consist of water and essential nutrients such as nitrogen, phosphorus, potassium, and micronutrients like iron, manganese, and zinc. They are dissolved in water and sprayed directly onto plant leaves, ensuring absorption and utilization by the plants. Liquid foliar sprays provide a quick nutrient boost during periods of rapid growth or plant stress. They bypass soil-related issues that may hinder nutrient uptake through roots, promoting overall plant health.
The comprehensive nutrient profile offered by liquid foliar sprays is another key benefit. By delivering a balanced mix of nutrients, these sprays contribute to the optimal growth and development of plants. They have become an invaluable tool for growers and gardeners seeking to support the health and productivity of their plants. Through their direct delivery of nutrients to plant leaves, liquid foliar sprays facilitate plant growth and help plants reach their full potential.
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North America: A Region Witnessing Market Growth
North America is a region experiencing substantial growth in the foliar spray market. The increasing demand for high-value crops, including fruits, vegetables, and ornamental plants, has prompted the adoption of advanced farming techniques such as foliar spraying. By improving crop yield and quality, foliar sprays generate higher profits for farmers. The awareness of the benefits associated with foliar spraying has resulted in an upsurge in demand for these products.
Foliar sprays not only enhance crop health and increase yields but also reduce the requirement for other inputs like fertilizers and pesticides. Consequently, more farmers are integrating foliar spraying into their overall crop management strategies. Precision agriculture, leveraging technologies like GPS and sensors to optimize crop production, plays a crucial role in foliar spraying. It enables farmers to precisely target specific areas of their fields with necessary nutrients or pesticides. As precision agriculture continues to gain prominence, the demand for foliar sprays is expected to increase further.
Factors driving the foliar spray market in North America include the rising demand for high-value crops, the adoption of precision agriculture practices, the development of innovative formulations, the increasing demand for organic food, and favorable government policies.
Key Players in the Foliar Spray Market
Several key players contribute to the growth and development of the foliar spray market. These industry leaders focus on research, innovation, and the development of effective foliar spray formulations. Notable players include: Eurochem Group (Switzerland), Nutrien Ltd. (Canada), Yara (Norway), Israel Chemical Limited (Israel), Coromandel International Limited (India) and The Mosaic Company (US).
These companies play a vital role in driving advancements and providing solutions that meet the increasing demand for foliar sprays worldwide.
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