Press release
Global Foliar Spray Market Size to Grow at a CAGR of 6.8% in the Forecast Period of 2022-2027
Foliar Spray Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 6.8 billion
• Forecast CAGR (2022-2027): 5.50%
• Forecast Market Size (2027): USD 9.4 billion
The growing expansion of the agricultural sector across the developed and developing economies is giving rise to the demand for foliar sprays. Increasing population and rising standards of living are fuelling the demand for foliar spray in order to promote the production of superior crops. In addition, the rising demand for high-quality fruits and vegetables is accelerating the foliar spray market growth.
The increasing demand for leafy vegetables, owing to the increasing inclination towards health and fitness, is likely to accelerate the demand for foliar spray in the forecast period. In addition, the increasing popularity of clean labelled food products derived from vegetables and turfs, is another crucial driving factor for the foliar spray market.
Over the forecast period, an anticipated increase in demand is expected for nitrogenous foliar sprays, owing to its quick action, as well as its ability to reduce emissions of nitrous oxide.
Foliar Spray Industry Definition and Major Segments
Foliar spray refers to a chemical which is sprayed on the crops in order to boost their health by providing them with essential nutrients during various vegetative stages. Foliar spray is a type of feeding technique in which liquid fertilisers are directly applied on to the leaves of the crop.
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Based on chemical, the market can be segmented into:
• Phosphatic
• Nitrogenous
• Potassic
• Calcium
• Micronutrients
• Others
On the basis of product type, the market has been classified into:
• Powder
• Liquid
Based on applications, the market is segmented into:
• Horticulture Crops
• Agriculture Crops
• Orchard Crop
• Vegetables
• Turfs
• Others
On the basis of region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Foliar Spray Market Trends
The key trends in the global foliar spray market include the growing research and development activities as well as upgradations in the farming activities aimed towards improving the quality of crops with minimal wastage. Meanwhile, the growing innovations by manufacturers to produce high-quality foliar sprays with wide range of properties and advantages, are likely to be the crucial trends in the market. In addition, the stringent regulations of various governments aiming to curb the emission of harmful gases and components during farming activities, are likely to be the foliar spray market propelling trends.
The thriving e-commerce industry is another crucial trend in the market bolstering the sale of premium packaged vegetable products, which is in turn propelling the incorporation of foliar spray in the agriculture sector.
In geographical terms, Asia Pacific holds a decent share in the market, which is being driven by the growing demand for wheat and rice across countries with high population such as India, China, and Japan.
Key Market Players
The major players in the foliar spray market report are:
Andaman AG
Aries Agro Limited
Coromandel International Limited
Gujarat State Fertilizers & Chemicals Limited (GSFC)
Sichuan Shucan Chemical Co. Ltd
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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