Growth Trends and Market Dynamics in the Global Secondary Macronutrients Market

According to a recent research report by MarketsandMarkets titled "Secondary Macronutrients Market," the secondary macronutrients market is set to reach new heights. Estimated at USD 38.6 billion in 2022, it is projected to grow at a CAGR of 4.0%, reaching USD 48.5 billion by 2028. The increased demand for cereals, grains, fruits, and vegetables is driving this robust growth, with farmers recognizing the value of secondary macronutrients to enhance crop production.

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Key Findings:

Calcium Emerges as the Fastest Growing Segment:

Calcium, considered crucial for higher crop productivity, is expected to be the fastest-growing segment during the forecast period. It contributes to improved plant growth, root development, and resistance to pests and diseases, particularly benefiting crops like sugarcane, rice, fruits, and vegetables.

Fruits & Vegetables Segment Leads Growth:

Fruits and vegetables are projected as the fastest-growing segment, fueled by the rise in veganism, vegetarianism, and health-conscious consumer preferences. The increasing awareness of the importance of plant-based diets is driving the demand for secondary macronutrients in this segment.

Liquid Form Gains Traction:

The liquid form of secondary macronutrients is anticipated to be the fastest-growing segment. Its flexibility in application methods, including foliar sprays, fertigation, and soil drenches, allows farmers to choose the most suitable technique for their crops. The liquid form also enables uniform nutrient dispersion, leading to consistent crop development and higher yields.

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South America Takes the Lead:

South America emerges as the fastest-growing region in the secondary macronutrients market. The region's large agricultural sector, contributing significantly to the economy, is adopting secondary macronutrient fertilizers to improve crop yields and profitability. The availability of these fertilizers is increasing, making them more accessible and cost-effective for South American farmers.

Key Players Driving Market Growth:

Eminent players in the secondary macronutrients market include Nutrien Ltd., Yara, The Mosaic Company, Israel Chemicals Ltd., K+S Aktiengesellschaft, IFFCO, Deepak Fertilisers and Petrochemicals Corporation Ltd., Coromandel International Ltd, Koch Industries, INC., and Nufarm, among others.

In conclusion, the global secondary macronutrients market is witnessing significant growth, driven by increased awareness among farmers, rising demand for plant-based foods, and the adoption of innovative application methods. The forecasted trends suggest a positive trajectory for the industry, particularly in regions like South America.

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This release was published on openPR.