Starter Fertilizers Market Future Growth Opportunities | 2024
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Based on the type of nutrient component, the global starter fertilizers market can be segmented into nitrogen, potassium, phosphorous, and micronutrients. The phosphorous segment led the global market for starter fertilizers in 2015. It is expected to continue its dominance during the forecast period due to the characteristics of phosphorous to stimulate growth and nourish the roots of the plant at early stages. Thus, demand for phosphorous has been rising in the global starter fertilizers market. The phosphorous segment was followed by nitrogen and potassium segments, respectively, in 2015. Micronutrients such as boron, chlorine, and copper are used in traces; these constitute a small share of the global starter fertilizers market.
Based on the crop type, the global starter fertilizers market can be divided into cereals, fruits & vegetables, and oil seeds & pulses. The cereals segment held the prominent share of the global starter fertilizer market in 2015. The cereals segment has been expanding due to the significant demand for cereals across the globe. Cereal crops include corn, which is suited for the use of starter fertilizers. Thus, the cereals segment is anticipated to continue its dominance during the forecast period. The fruits & vegetable segment is estimated to follow the cereals segment in the near future. Based on form, the global starter fertilizer market can be divided into dry and liquid. Both these forms of starter fertilizers are equally effective; the choice between the two depends upon the cost and convenience of usage.
In terms of region, the global starter fertilizer market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the major share of the global starter fertilizer market in 2015. The U.S. not only accounted for the prominent share of the region, but also led the market across the globe. The starter fertilizers market in North America is anticipated to expand at a steady pace and continue its dominance during the forecast period. This is ascribed to the rise in adoption of improved fertilizer technologies for enhanced production of cereals and fruits and vegetable crops in the region. North America is likely to be followed by Europe during the forecast period. Countries in Europe such as France, Spain, the U.K., Italy, and Germany have been quick in adopting advanced fertilizer products. Europe is also a large export market for fruits and vegetables. The starter fertilizers market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period primarily due to the large consumer base in the region. Countries such as China and India in the region are also key producers of cereals and fruits and vegetable crops.
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Prominent players operating in the global starter fertilizers market are Stoller USA Inc., The Scotts Miracle-Gro Company, Conklin Company Partners Inc., Yara International ASA, CHS Inc., Agrium Inc., Helena Chemical Company, Miller Seed Company, Nachurs Alpine Solution, and Conklin Company Partners Inc.
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