Foliar Spray Market is Projected to Reach $9.6 billion by 2028

The global foliar spray market is projected to experience significant growth, with an estimated increase from USD 7.3 billion in 2023 to USD 9.6 billion by 2028. This growth is expected to occur at a compound annual growth rate (CAGR) of 5.5% during the forecast period. The popularity of foliar spray in the agricultural industry is steadily rising due to its numerous advantages over traditional soil-based fertilization methods.

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One of the primary drivers of this market growth is the increasing demand for food caused by the rising global population. Foliar spray techniques provide an efficient and effective way to enhance crop yields by precisely applying nutrients and pesticides directly to the plant's leaves. Moreover, foliar spray is considered more environmentally friendly compared to traditional soil-based fertilization methods. Its precise application minimizes waste and runoff, reducing the risk of pollution and environmental damage.

The micronutrients foliar sprays segment is a significant driver of the market, owing to advancements in the agriculture industry. Foliar treatments with micronutrients, either as individual compounds or in combination, have become widely employed. This method proves more efficient than soil application in improving plant internal processes, cell homeostasis, water relations, and productivity under abiotic challenges. Furthermore, foliar sprays deliver nutrients directly to the leaves for easy absorption. With consumers increasingly demanding high-quality and nutritious crops, the use of foliar sprays has risen to enhance crop quality by providing essential micronutrients. Manufacturers are investing in research and development to create advanced foliar spray formulations that offer better nutrient uptake and absorption, which further drives market growth.

Liquid foliar sprays are expected to drive the market in 2023. These sprays typically consist of a mixture of water and nutrients, including nitrogen, phosphorus, potassium, and micronutrients like iron, manganese, and zinc. The nutrients are dissolved in water and sprayed directly onto the plant's leaves, allowing for absorption and utilization by the plant. Liquid foliar sprays provide plants with a quick nutrient boost during crucial growth periods or periods of stress. They also bypass soil-related issues that may limit nutrient uptake through the plant's roots. Additionally, liquid foliar sprays improve overall plant health by providing a balanced and complete nutrient profile. Growers and gardeners find liquid foliar sprays to be a valuable tool in supporting plant growth and health, as they provide a convenient way to deliver nutrients directly to the leaves for optimal plant development.

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The North America region is witnessing substantial growth in the foliar spray market due to the increasing demand for high-value crops. Fruits, vegetables, and ornamental plants are in high demand, leading to the adoption of advanced farming techniques like foliar spraying. By enhancing crop yield and quality, foliar sprays contribute to higher profits for farmers. As more farmers recognize the benefits of foliar spraying, the demand for these products is increasing. Foliar sprays improve crop health, increase yields, and reduce the reliance on other inputs like fertilizers and pesticides.

Consequently, more farmers are incorporating foliar spraying into their crop management strategies. Precision agriculture, which utilizes technology such as GPS and sensors to optimize crop production, also benefits from foliar spraying. This technique enables farmers to target specific areas of their fields with the necessary nutrients or pesticides. With the increasing adoption of precision agriculture practices, the demand for foliar sprays is growing in North America. Favorable government policies, the development of innovative formulations, and the rising demand for organic food further contribute to the growth of the foliar spray market in this region.

Key players in the foliar spray market include Eurochem Group (Switzerland), Nutrien Ltd. (Canada), Yara (Norway), Israel Chemical Limited (Israel), Coromandel International Limited (India), and The Mosaic Company (US).

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