The global foliar spray market is forecast to reach USD 9,841.6 Million by 2028, according to a new report by Reports and Data. Foliar spray is a process of feeding plants by directly applying fertilizers to the leaves instead of putting it in the soil. Plants could ingest essential elements through their leaves. The absorption procedure happens through stomata and epidermis. The technology can also be utilized while applying pesticides such as insecticides, herbicides, and biopesticides to the plants.
The market for foliar spray is influenced by the increase in demand from end-use industries such as industrial agriculture, high efficiency of foliar spray products, and ease of application.
The above-mentioned factors collectively create opportunities for market growth, while factors such as fluctuating raw material prices pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the textile chemicals market owing to innovative efforts have enhanced the efficiency of foliar spray.
Top Companies Operating in the Global Foliar Spray Market:
EuroChem Group AG, Nutrien, 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.
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Further key findings from the report suggest
- The fertilizer segment held a larger market share of 61.9% in the year 2018. Liquid fertilizers are applied to the leaves of the plants, which is more effective than putting it in the soil hence affecting the market growth positively.
- The nitrogenous segment of the foliar spray market is forecasted to grow with the highest CAGR of 6.5% during the forecast period. Nitrogen is the most preferred supplement among all elements for plant growth due to its easy availability and lower price. It helps enhance the yield of corps. Nitrogenous foliar sprays are broadly favored in various applications.
- The horticultural crops segment held the largest market share of 40.3% in the year 2018 and is forecasted to grow with the highest CAGR of 6.6% during the forecast period. This is due to the extensive use of foliar spray products in the horticultural crops. Horticultural crops such as vegetable crops, tuber crops, and fruit crops have turned into a fundamental part of the daily dietary intake of individuals, which in turn, has contributed to the increased use of foliar spray fertilizers.
- The Europe region held the largest market share of 33.5% in the year 2018. Countries such as Norway, Germany, and the UK have adopted advanced farming technologies which in turn fuels the demand for foliar spray products in the agricultural industries in the region.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Foliar Spray Market Segmentation
Foliar Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Fertilizer
- Pesticide
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Nitrogenous
- Potassic
- Phosphatic
- Parathion
- Malathion
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Horticultural Crops
- Field Crops
- Turfs Ornamentals
- Others
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