Global Foliar Fertilizers Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
At the heart of agricultural methods lie Foliar Fertilizers known for their quick and effective delivery of nutrients to plants. They serve as an option for farmers to enhance traditional soil fertilizer routines especially during crucial growth phases to promote plant well being and boost crop output. The growing popularity of these fertilizers is driven by the rising interest, in farming techniques and customizable nutrient strategies.
Market Key Insights
- The Foliar Fertilizers market is projected to grow from $3.7 billion in 2024 to $9.3 billion in 2034. This represents a CAGR of 9.6%, reflecting rising demand across Horticulture, Forestry and Agriculture.
- Yara International ASA, Nutrien Ltd., EuroChem Group AG are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Foliar Fertilizers market and are expected to observe the growth CAGR of 7.0% to 10.1% between 2024 and 2030.
- Emerging markets including Vietnam, Mexico and South Africa are expected to observe highest growth with CAGR ranging between 9.2% to 12.0%.
- Transition like The Emergence of BioBased Foliar Fertilizers is expected to add $800.0 million to the Foliar Fertilizers market growth by 2030
- The Foliar Fertilizers market is set to add $5.6 billion between 2024 and 2034, with manufacturer targeting Horticulture & Floriculture End-Users projected to gain a larger market share.
- With Enhanced crop yields, and Technological innovations in fertilizer application, Foliar Fertilizers market to expand 150% between 2024 and 2034.
Opportunities in the Foliar Fertilizers
The rapid growth of cities and industries in countries such as India and Brazil well as those in Africa offers new opportunities for the use of foliar fertilizers to support agriculture and meet the increasing food needs driven by population growth, in these regions.
Growth Opportunities in North America and Asia Pacific
North America Outlook
Asia Pacific Outlook
Market Dynamics and Supply Chain
Driver: Enhanced Crop Yields, and Rising Emphasis on Sustainable Agriculture
Advancements in technology play a role in shaping the foliar fertilizers market with a focus on new ways of applying fertilizers efficiently and precisely through methods like precision agriculture and the integration of GPS and remote sensing technologies for accurate application, by farmers.
Restraint: Limited Awareness of Foliar Fertilizers
Opportunity: Exploring Organic Agriculture and Technological Innovations in Foliar Application
The use of techniques for applying fertilizers is showing significant potential for growth in the foliar fertilizer market sector especially with advancements such as using drones for precise and even distribution of soluble fertilizers by farmers. If this trend continues it is likely to propel the market, for fertilizers forward particularly in areas where smart agricultural methods are gaining popularity.
Challenge: Alternatives to Foliar Fertilizers
Supply Chain Landscape
Yara International
Agrium Inc
Haifa Chemicals
Coromandel International Ltd
Compo Expert GmbH
EuroChem Group AG
Agriculture
Horticulture
Forestry
Yara International
Agrium Inc
Haifa Chemicals
Coromandel International Ltd
Compo Expert GmbH
EuroChem Group AG
Agriculture
Horticulture
Forestry
Applications of Foliar Fertilizers in Horticulture, Forestry & Agriculture
Foliar fertilizers are extensively used in horticulture, primarily due to their ability to deliver nutrients directly and quickly to plants. In this sector, micronutrient foliar fertilizers are predominantly used to address nutrient deficiencies and promote healthier and faster growth. Horticulture industry giants, such as Scotts Miracle-Gro Company and Haifa Group, utilize foliar fertilizers to provide nutrition to a wide array of plants, thereby affirming their extensive market dominance.
In the forestry sector, slow-release foliar fertilizers are frequently used to provide sustained nutrition to trees. These fertilizers are instrumental in enhancing tree health and growth rates, largely contributing to sustainable forestry practices. Companies such as Yara International and ICL Group extensively deploy these fertilizers in forestry, reinforcing their leading market positions.
The agriculture industry utilizes foliar fertilizers significantly, predominantly to address nutrient deficiencies in crops. Nitrogen-based foliar fertilizers are particularly used due to their effectiveness in improving crop yield and quality. Major players like Nutrien Ltd. and Helena Agri-Enterprises, LLC extensively rely on these fertilizers in their operations, highlighting their strong market standing.
Recent Developments
The GreenPath Company launched its innovative range of organic foliar fertilizers, a breakthrough development using advanced micro-nutrient technology to enhance crop yields and soil fertility.
Yara International ASA introduced its next-gen foliar fertilizer, designed to address micronutrient deficiencies, thus spearheading movements towards sustainable agriculture.
Nutrien Ltd. expanded its market reach by setting up new manufacturing units in South Asia, reflecting the escalating demand for high-quality foliar fertilizers in developing countries.