US$ 8.3 Billion Opportunity Emerging in Foliar Fertilizer Market by 2028 | Key Players are Israel Chemicals Ltd., Helena Agri-Enterprises LLC, and Yara International ASA.

Foliar fertilizer remains an intensely fragmented landscape. In spite of the high level of fragmentation, the top three players have continued to hold onto their revenue shares. These three companies include Israel Chemicals Ltd., Helena Agri-Enterprises LLC, and Yara International ASA. Collectively, these three companies account for over 18% revenue share of the global foliar fertilizer market. Israel Chemicals Ltd., has benefited owing to its strategic location serving both emerging and developed markets. Moreover, the company operates from two ports (Port of Ashdod and Port of Eilat) that offers low plant gate-to-port cost. This also facilitates proximity to the target market along with shorter lead time.

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Yara International ASA is focusing on diversifying across key regional markets. For instance, it launched a liquid fertilizer plant in Malmesbury to leverage its lucrativeness as a key agri exporter in South Africa. Yara International is also focusing on launching Yara Improvement Program in a bid to enhance its EBITDA in the forthcoming years.

Helena Agri-Enterprises LLC is focused on diversifying its product portfolio and reinforce its global presence. Recently, it introduced four new products in its foliar fertilizer product lineup, viz., Ele-Max Sulfur LC, N-Fixx XLR, Antares Prime and Sultrus.

Focus on Leveraging ‘Soil Conditioning’ Benefits Gaining Ground Among Foliar Fertilizer Manufacturers

Multi-pronged advantage of foliar fertilizers are expected to fuel their demand in agriculture and farming sector. In addition to efficient nutrient absorption and crop yield, foliar fertilizers provide higher resistance to insects and pests owing to the presence of various hormones such as gibberellins, cytokinins and auxins. In addition, foliar fertilizer also acts as an effective soil conditioner and enhances the water holding capacity of the soil in turn facilitating the balance restoration of the microorganism populace. Use of foliar fertilizer eliminates nutrient limitations in adverse soil conditions and is considered as an additional supplement boosting crop health. On account of these factors, agriculturists recommend the use of foliar fertilizer in conjunction with granular fertilizers to achieve favorable results.

Foliar Fertilizer Industry Benefiting from Broader Focus on Increasing Yield Per Hectare

The growing demand for agricultural products on the back of rising population rates and per capita consumption has presented potential avenues for the use of novel agricultural techniques such as foliar fertilization. According to analysis carried out by Food and Agriculture Organization (FAO) of the United Nations, kilocalorie demand per person is likely to reach 3050 kcal. In addition to this, global population is expected to touch 8.3 billion by 2030. Momentous growth in population is expected to increase the demand for agricultural commodities, in turn, creating an urgency to enhance the agricultural produce using nutrition enhancement with foliar fertilizer. This is likely to spur the demand for foliar fertilization, consequently pushing the sales of foliar fertilizer.

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Introduction of nanotechnology in the agro fertilizer space has enhanced the nutrient absorption quotient in plants. As compared to conventional crop fertilizers such as large granules, the nanocomposite foliar fertilizer can be custom-designed to obtain smaller particles with desired nutrient compositions. In addition, nanocomposite foliar fertilizer can be synthesized and produced in one step with less energy consumption. With the enhanced absorption capacity, nanocomposite foliar fertilizer facilitates efficient binding of nutrient ions enhancing plant nutrition. In addition, application of nano-B and nano-Zn foliar fertilizer, which has been tested on pomegranate, can increase the leaf micronutrient concentration further aiding plant nutrition.

Decreasing Arable Land to Influence Nutrient Demand – Potential Avenue for Foliar Fertilizer Market

Arable land per person is expected to witness a further decline in the years to follow, in turn, impacting the agricultural produce. According to the World Bank, arable land (hectares per person) has reduced from 0.371 in 1961 to 0.194 in 2015. This hectares per person is likely to reach 0.15 ha per capita by 20250, according to FAO. Farmland decrease per person coupled with the increasing need for agricultural produce has pushed the growers to increase crop yield by using advanced fertilizer solutions such as foliar fertilizer, in turn, encouraging its market’s growth.

The on-going imbalance between demand and supply of water for agricultural practices has forced alterations in modern irrigation practices. This has resulted in adoption of alternative techniques such as fertigation that includes injection of fertilizers and nutrients to the irrigation system, in turn, impacting the use of foliar fertilization method. Fertigation saves time and money along with yield agriculture yield enhancement, consequently challenging the adoption of the foliar fertilizer in the agriculture industry.

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