Foliar Spray Market has Huge Growth in Industry | EuroChem Group AG, Nutrien, K+S Aktiengesellschaft, etc.

The global foliar spray market is forecast to reach USD 8.96 Billion by 2026, 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.

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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.

Companies considered and profiled in this market study
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. among others.

For the purpose of this report, Reports and Data have segmented into the global Foliar Spray market on the basis of foliar type, product type, application, and region:
Foliar Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Fertilizers
Pesticides

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Nitrogenous
Potassic
Phosphatic
Parathion
Malathion
Others

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Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Horticultural Crops
Field Crops
Turfs & Ornamentals
Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

Further key findings from the report suggest
o 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.
o 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.
o 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.

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The report emphasizes the following key questions
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry's growth in the forecast period?

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This release was published on openPR.