Global Foliar Spray Market, 2023 by Type (Nitrogenous, Phosphatic, Potassic, Micronutrients) & Application (Horticultural Crops, Field Crops, Turfs & Ornamentals)
DUBLIN, July 25, 2018 /PRNewswire/ --
The "Foliar Spray Market by Type (Nitrogenous, Phosphatic, Potassic, Micronutrients), Application (Horticultural Crops, Field Crops, Turfs & Ornamentals), and Region (Europe, North America, APAC, South America, RoW) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The foliar spray market is projected to grow from USD 5.79 billion in 2018 to USD 7.61 billion by 2023, at a CAGR of 5.6% between 2018 and 2023.
The increasing use of foliar spray products in various applications, such as horticultural crops, field crops, and turfs & ornamentals, is projected to drive the growth of the foliar spray market. Foliar spray process ensures efficient distribution of nutrients in plants. Plants absorb this fertilizer completely, without leaving behind any chemical residue that may cause pollution.
Based on type, the nitrogenous segment of the foliar spray market is projected to grow at the highest CAGR during the forecast period. Nitrogen is the most commonly consumed nutrient among all elements required for plant growth. It helps to enhance the yield of crops. Nitrogenous foliar sprays are widely preferred in different applications.
Based on application, the horticultural crops segment is estimated to lead the foliar spray market in 2018. Horticultural crops are one of the essential segments of the foliar spray market, as these crops have the highest demand across the world. Environmental degradation and increase in population have impacted the availability of productive land under cultivation, thereby contributing to the development of fertilizer solutions to sustain the ever-increasing demand for horticultural crops.
The European region is the largest consumer of foliar spray across the globe. However, the foliar spray market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Limited availability of agricultural land and high demand for food are expected to drive the demand for efficient fertilizers in this region. Foliar spray fertilizers have significant advantages that include easy application, uniform distribution of nutrients to crops, and limited labor costs. All these advantages make foliar spray fertilizers a suitable product for horticultural crops, field crops, and turfs & ornamentals.
The organic food industry has been witnessing significant growth in emerging economies, owing to increasing awareness regarding health, environment protection, food safety, and animal welfare reforms. Increasing organic practices in agriculture and rising demand for chemical-free products are restraining the growth of the foliar spray market.
Key companies operating in the foliar spray market include EuroChem Group AG (Switzerland), Nutrien (Canada), K+S Aktiengesellschaft (Germany), Yara International ASA (Norway), Israel Chemicals Ltd. (Israel), The Mosaic Company (US), Gujarat State Fertilizers & Chemicals Ltd. (India), Coromandel International Limited (India), TRIBOdyn AG (Germany), Hebei Monband Water Soluble Fertilizer Co., Ltd. (China), and Haifa Chemicals Ltd. (Israel).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Foliar Spray Market
4.2 Foliar Spray Market, By Type
4.3 Foliar Spray Market, By Type and Application
4.4 Foliar Spray Market, By Country
4.5 Foliar Spray Market: Emerging vs Developed Economies
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Efficiency of Foliar Spray Products
5.2.1.2 Increased Awareness of Foliar Spray Products in Emerging Markets
5.2.1.3 Ease of Application
5.2.2 Restraints
5.2.2.1 Growth of the Organic Fertilizer Industry
5.2.3 Opportunities
5.2.3.1 Limited Availability of Land
5.2.3.2 Environmental Concerns Regarding the Use of Chemical Fertilizers
5.2.4 Challenges
5.2.4.1 Volatility in Prices
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Value Chain Analysis
6 Foliar Spray Market, By Type
6.1 Introduction
6.2 Nitrogenous
6.3 Phosphatic
6.4 Potassic
6.5 Micronutrients
7 Foliar Spray Market, By Application
7.1 Introduction
7.2 Horticultural Crops
7.2.1 Orchard Crops
7.2.2 Vegetable & Flower Crops
7.3 Field Crops
7.4 Turfs & Ornamentals
7.5 Others
8 Regional Analysis
8.1 Introduction
8.2 Europe
8.2.1 Germany
8.2.2 UK
8.2.3 Italy
8.2.4 Spain
8.2.5 Russia
8.2.6 Ukraine
8.2.7 Rest of Europe
8.3 North America
8.3.1 US
8.3.2 Canada
8.3.3 Mexico
8.4 Asia Pacific
8.4.1 India
8.4.2 China
8.4.3 Japan
8.4.4 Australia
8.4.5 Rest of Asia Pacific
8.5 South America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of South America
8.6 Rest of World
8.6.1 Middle East
8.6.2 Africa
9 Competitive Landscape
9.1 Overview
9.2 Expansions and Mergers & Acquisitions: the Most Adopted Growth Strategies
9.3 Competitive Situations & Trends
9.3.1 Expansions
9.3.2 Mergers & Acquisitions
9.3.3 Agreements
9.3.4 Partnerships & Joint Ventures
9.3.5 Investments
9.3.6 New Product Developments
10 Company Profiles
10.1 Eurochem Group AG
10.2 Nutrien
10.3 K+S Aktiengesellschaft
10.4 Yara International Asa
10.5 Israel Chemical Ltd. (ICL)
10.6 The Mosaic Company
10.7 Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
10.8 Coromandel International Limited
10.9 Tribodyn AG
10.10 Hebei Monband Water Soluble Fertilizer Co., Ltd.
10.11 Haifa Chemicals Ltd
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