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Top Market Shifts Transforming the Secondary Agricultural Nutrients Market Landscape: Key Insights
Secondary Agricultural Nutrients Market
What Is the Expected CAGR for the Secondary Agricultural Nutrients Market Through 2025?
The market size of secondary agricultural nutrients has seen a consistent increase over recent years. The expansion is anticipated to go from $44.87 billion in 2024 to $46.67 billion in 2025 with a compound annual growth rate (CAGR) of 4.0%. This growth in previous years is ascribed to factors such as agricultural processes, consciousness about soil health, the yield, and quality of crops, market needs and acceptance, and climatic conditions.
What's the Projected Size of the Global Secondary Agricultural Nutrients Market by 2029?
The market size for secondary agricultural nutrients is predicted to witness substantial expansion in the coming years, projected to reach "$59.39 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. The market's growth throughout the predicted period can be attributed to factors such as increased consumer awareness, worldwide agricultural trends, research and development initiatives, market expansion, and environmental regulations. Significant trends during this period include sustainable agriculture, precision farming, a rise in crop diversification, the surge of organic farming trends, and innovative strategies from suppliers.
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Top Growth Drivers in the Secondary Agricultural Nutrients Industry: What's Accelerating the Market?
The upward trend in soil contamination is predicted to fuel the expansion of the secondary agricultural nutrients market in the future. The term soil contamination applies to the excess presence of pollutants or detrimental substances in the soil, beyond safe thresholds. This type of contamination can greatly influence the accessibility and absorption of secondary agricultural nutrients by fauna. For instance, in May 2022, Eco Watch, a news website and media organization based in the U.S., reported that the land area afflicted by Per- and poly-fluoroalkyl substances (PFAS) contamination has increased to 20 million acres compared to the past year. Thus, accelerating soil contamination is seen as a key growth engine for the secondary agricultural nutrients market in the ensuing period.
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What Trends Will Shape the Secondary Agricultural Nutrients Market Through 2029 and Beyond?
In the secondary agricultural nutrients market, the primary trends gaining traction are product innovations. Enterprises involved in the secondary agricultural nutrients market are concentrating on creating inventive products to maintain their market standing. For instance, Nufarm Ltd, a firm based in Australia that operates in the agricultural sector, introduced the Tourney EZ fungicide in April 2023. Tourney EZ is a liquid fertilizer used in farming to supply crops with crucial nutrients. It is engineered to be used along with other crop protection products like herbicides and fungicides, to boost plant health and optimize crop yield.
What Are the Main Segments in the Secondary Agricultural Nutrients Market?
The secondary agricultural nutrients market covered in this report is segmented -
1) By Nutrient Type: Sulphur, Calcium, Magnesium
2) By Crop Type: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Turfs and Ornamentals, Other Crop Types
3) By Application Method: Solid, Liquid
Subsegments:
1) By Sulphur: Elemental Sulphur, Sulphate Forms
2) By Calcium: Calcium Carbonate, Calcium Sulfate, Calcium Nitrate
3) By Magnesium: Magnesium Sulfate, Magnesium Oxide, Magnesium Nitrate
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Which Top Companies are Driving Growth in the Secondary Agricultural Nutrients Market?
Major companies operating in the secondary agricultural nutrients market include Nutrien Ltd, Deepak Fertilizers and Petrochemicals Corporation Limited, Yara International ASA, Coromandel International Limited, Nufarm Limited, The Mosaic Company, Haifa Group, Israel Chemicals Ltd., Sapec Agro S.A., Impact Fertilizer Pty Ltd, Calcium Products Inc., Koch Industries Inc., Evergrow Solutions, Koch AG & Energy Solutions LLC, Agriculture Solutions Inc., KS AG, IFFCO, SABIC, URALCHEM JSC, CF Industries Holdings Inc., Wilbur-Ellis Company LLC, Aries Agro, Aditya Microdynamic, Acadian Seaplants Limited, Sinochem Group, Qatar Fertiliser Company (QAFCO), Rubamin, SQM S.A., Compass Minerals, Tessenderlo Group, Kugler Company, Brandt Consolidated, Verdesian Life Sciences, BioWorks Inc., Fertiberia, Omex Agrifluids, Tradecorp International
Which Regions Will Dominate the Secondary Agricultural Nutrients Market Through 2029?
North America was the largest region in the secondary agricultural nutrients market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global secondary agricultural nutrient market report during the forecast period. The regions covered in the secondary agricultural nutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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