NEW YORK, Oct. 24, 2016 /PRNewswire/ --
"Starter fertilizers market is projected to grow at a CAGR of 4.04%"
The starter fertilizers market, estimated at USD 6.37 billion in 2015, is projected to grow at a CAGR of 4.04%, to reach USD 8.33 billion by 2022. The market is primarily driven by factors such as increased area under forage & turf grasses, widening applicability of starter fertilizers, and increased expenditure in R&D by the starter fertilizer manufacturers. The high growth potential in the Asia-Pacific region and untapped regions provide new growth opportunities for the market players.
One of the major restrain in the growth of the starter fertilizers market is limited usage of starter fertilizer solution in field crop production. In the production of field crops, the use of starter fertilizers is limited due to the availability of other suitable types of fertilizers. The application of these fertilizers is limited to the purpose of strengthening roots of a plant at the early stages of production.
"Phosphorus nutrient component led the market with the largest share in 2015"
On the basis of nutrient component type, the starter fertilizers market was led by the phosphorus segment, followed by nitrogen and potassium, respectively. Phosphorus is increasingly used globally as a starter fertilizer, due to its trait of providing strength to the roots of a plant at a very early stage of production. The usage of these nutrient components differs in different countries on the basis of the varied climatic condition.
Cereals crop segment dominated the starter fertilizers market in 2015
The cereal crops segment dominated the starter fertilizers market, due to the large-scale application to corn, sorghum, and wheat crops in the North American region. Cereal crops such as corn, wheat, and barley constitute a large proportion of the market for starter fertilizers. This is mainly driven by the large-scale production of corn in the North American region. Agricultural producers in the region adopted a holistic approach towards crop and soil nutrient management.
"Asia Pacific: High growth projected in the starter fertilizers market"
Asia-Pacific is projected to be the fastest-growing market for the period considered for this study, due to the high adoption rate of starter fertilizer products in agriculture. Japan and Australia are expected to lead the market for starter fertilizers in the Asia-Pacific region for the next five years, as a result of the expansions and establishments of starter fertilizer manufacturers, to cater to the needs of farmers.
The U.S. starter fertilizers market not only dominates North America but also the global market.
Break-up of Primaries:
- By Company Type: Tier 1 – 35 %, Tier 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, and Others – 40%
- By Region: North America - 30%, Europe – 20%, Asia-Pacific – 45%, and RoW – 5%
Leading players profiled in this report:
- The Scotts Miracle-Gro Company (U.S.)
- CHS Inc. (U.S.)
- Yara International ASA (Norway)
- Agrium Inc. (U.S.)
- Stoller USA Inc. (U.S.)
- Helena Chemical Company (U.S.)
- Miller Seed Company (U.S.)
- Nachurs Alpine Solution (U.S.)
- Conklin Company Partners Inc. (U.S.)
- Grassland Agro (Ireland)
- Agro-Culture Liquid Fertilizers (U.S.)
- EC Grow (U.S.)
The report segments the starter fertilizers market on the basis of nutrient component type, crop type, method of application, and region. In terms of insights, this research report has focused on various levels of analyses—trade analysis, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global starter fertilizers market, high-growth regions, countries, government initiatives, drivers, restraints, and opportunities.
Reasons to buy this report:
- To get a comprehensive overview of the starter fertilizers market
- To gain wide ranging information about the top players in this industry, their service portfolios and key strategies adopted by them
- To gain insights about the major countries/regions in which the starter fertilizers market is flourishing
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