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Foliar Spray Market Report: Comprehensive Size, Share Analysis, and Growth Drivers for 2024-2033
Foliar Spray Global Market Report 2024
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According to The Business Research Company's, The foliar spray market size has grown strongly in recent years. It will grow from $6.67 billion in 2023 to $7.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increased crop yield, growing adoption of precision agriculture, rising demand for high-quality crops, increased awareness about plant health, and the and the expansion of agricultural land.
The foliar spray market size is expected to see strong growth in the next few years. It will grow to $9.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing global food demand, a rise in organic farming practices, growing investment in agricultural research, the expansion of arable land, and favorable weather conditions for crop growth. Major trends in the forecast period include the use of organic and natural foliar sprays, smart agriculture and precision farming, the adoption of drone technology for spray applications, personalized and customized foliar formulations, and the and the development of eco-friendly and biodegradable products.
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Market Drivers and Trends:
A rising shift towards organic farming is expected to propel the foliar spray market. Organic farming refers to a method of agriculture that avoids using synthetic pesticides, herbicides, fertilizers, and genetically modified organisms (GMOs). The rising shift towards organic farming is driven by increasing consumer demand for healthier, chemical-free produce, growing awareness of environmental sustainability, and supportive government policies and incentives that encourage organic farming practices. Organic foliar sprays that comply with organic standards are increasingly used to enhance crop health and yield without synthetic chemicals, catering to the organic farming sector. For instance, in June 2024, according to Eurostat, a Luxembourg-based government agency, approximately 16.9 million hectares of agricultural land in the European Union were dedicated to organic farming in 2022, compared to 15.9 million hectares in 2021. Moreover, in 2022, organic farming accounted for 10.5% of the total agricultural land in the EU. Therefore, the rising shift towards organic farming will drive the foliar spray market.
Major companies operating in the foliar spray market are focusing on crop-specific foliar product technologies, such as foliar adjuvant, to deliver advanced, durable insect control and enhance pest resistance management. Foliar adjuvants are additives that enhance the effectiveness of foliar sprays by improving their spread, adhesion, and absorption on plant leaves. For instance, in August 2024, BRQ Brasilquímica, a Brazil-based agrichemical company, launched the Asperse foliar adjuvant, a premium addition to its QualyAplic line. This advanced agricultural solution improves spreading, wetting, and drift control in agrochemical sprays, particularly enhancing the effectiveness of fungicides. Asperse ensures uniform pesticide deposition on crops such as soybeans, corn, and cotton, optimizing application efficiency and boosting agricultural yields.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, Syngenta AG, Bayer CropScience AG, Yara International, The Mosaic Company, Corteva Agriscience Inc., Sumitomo Chemical Company Limited, Israel Chemical Ltd., Nutrien Ltd., UPL Limited, FMC Corporation, ADAMA Agricultural Solutions Ltd., EuroChem Group AG, K+S AG, Nufarm Limited, GSFC Ltd (Gujarat State Fertilizers & Chemicals Ltd), Haifa Chemicals Ltd., Aries Agro Limited, Valent Biosciences Corporation, AgroLiquid, Hebei Monband Water Soluble Fertilizer Co Ltd., WinField United, Coromandel International Limited, Lima Europe NV, Tribodyn AG
Foliar Spray Market 2024 Key Insights:
• The foliar spray market size is expected to see strong growth in the next few years. It will grow to $9.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Impact Of Growing Organic Farming Trends On The Foliar Spray Market
• Advancements In Foliar Spray Technology With Crop-Specific Solutions
• Asia-Pacific was the largest region in the foliar spray market in 2023
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