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The Impact Of Agriculture Industry Expansion On The Secondary Macronutrients Market: A Key Driver Powering Secondary Macronutrients Market Growth In 2025
Secondary Macronutrients
What Is the Current Secondary Macronutrients Market Size and Its Estimated Growth Rate?
Over the past few years, the market size for secondary macronutrients has seen consistent growth. Projected to rise from $41.68 billion in 2024 to $43.33 billion in 2025, it will achieve a compound annual growth rate (CAGR) of 4.0%. The historical period's growth is credited to factors such as an increase in demand for secondary macronutrients, urbanization and infrastructure growth, an expanding agricultural sector, a heightened focus on sustainability, and the cost of raw materials.
In the coming years, the market size for secondary macronutrients is predicted to exhibit considerable growth, ballooning to $53.62 billion in 2029 with a compound annual growth rate (CAGR) of 5.5%. The forecasted period's expansion can be due to escalated agricultural activities, burgeoning demand for food commodities, environmental sustainability endeavors, urbanization along with infrastructure advancement, and regulation backing for soil wellness. Significant developing trends during this timeframe encompass R&D, growing cognizance regarding nutrient shortages, governmental backing for agricultural modernization, rising world population, and resilience and proficiency in the supply chain.
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How Are Emerging Segments Shaping the Secondary Macronutrients Market Landscape?
The secondary macronutrients market covered in this report is segmented -
1) By Nutrient Type: Calcium, Magnesium, Sulfur
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
3) By Application Method: Solid Application, Liquid Application
Subsegments:
1) By Calcium: Calcium Carbonate, Calcium Nitrate, Calcium Sulfate
2) By Magnesium: Magnesium Sulfate, Magnesium Oxide, Magnesium Nitrate
3) By Sulfur: Elemental Sulfur, Sulfate Compounds, Sulfur Coated Urea
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Which Growth Factors Are Influencing Secondary Macronutrients Market Expansion?
Anticipated growth in the agriculture sector is poised to stimulate the expansion of the secondary macronutrients market. The agricultural sector includes crop and livestock farming, along with the development of agricultural equipment, chemical fertilizers, and other related farm commodities. Secondary macronutrients play a vital role in agriculture as they contribute to better plant growth and soil fertility by maintaining a balanced nutrient profile in the soil and plants, optimizing soil pH, improving soil aggregation, enhancing water infiltration, and aiding nutrient assimilation for superior crop development and increased productivity. For example, the United States Department of Agriculture reported in February 2023 that U.S. agricultural exports topped the previous record set in 2021 by 11%, or $19.5 billion. Thus, the growth of the agriculture sector is fueling the advancement of the secondary macronutrients market.
Who Are the Dominant Players Across Different Secondary Macronutrients Market Segments?
Major companies operating in the secondary macronutrients market include Sinochem Holdings Corporation Ltd, Archer Daniels Midland Company, Bunge Limited, Dow Chemical Company, Bayer AG, Nutrien Ltd., Mitsubishi Chemical Holdings Corporation, Syngenta AG, BASF SE, Yara International ASA, Sumitomo Chemical Co. Ltd., The Mosaic Company, DuPont de Nemours Inc., SQM, EuroChem Group AG, ICL Group Ltd, Israel Chemicals Ltd., K+S Aktiengesellschaft AG, Sinofert Holdings Limited, Rashtriya Chemicals and Fertilizers Ltd., Coromandel International Limited, Haifa Group, Zuari Agro Chemicals Ltd., Compo Expert, Gujarat State Fertilizers & Chemicals Ltd., Deepak Fertilisers and Petrochemicals Corporation Limited, Koch Ag and Energy Solutions LLC., Kugler Company
What Are the Latest Developing Trends in the Secondary Macronutrients Market?
Leading firms in the secondary macronutrient market are introducing novel products like crop nutrition solutions to expand their customer reach, drive sales, and boost profits. Crop nutrition solutions encompass a variety of products and methods aimed at enhancing nutrient supply and absorption for crops, which in turn ensures their robust growth and maximum output. For example, in October 2024, SPARTA Biodiscovery, an agribusiness firm based in Greece, introduced Functional Crop Nutrition (FCN). FCN focuses on providing a complete crop nutrition solution that involves feeding, protecting, and biostimulating crops. It presents vital macro- and micro-nutrients needed for optimum crop growth and also protects crops from diseases, pests, and environmental threats such as drought and heat conditions.
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Which Geographic Regions Are Expected to Dominate the Secondary Macronutrients Market in the Coming Years?
Asia-Pacific was the largest region in the secondary macronutrients market in 2024. The regions covered in the secondary macronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Secondary Macronutrients Market?
2. What is the CAGR expected in the Secondary Macronutrients Market?
3. What Are the Key Innovations Transforming the Secondary Macronutrients Industry?
4. Which Region Is Leading the Secondary Macronutrients Market?
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