Foliar Spray Market Outlook
Foliar Spray Market is expected to reach USD 9.7 Billion by 2030, growing a CAGR of 5.55% from 2022 to 2030.
The global foliar spray market has been segmented by fertilizer type, application, and region.
On the basis of fertilizer type, the global foliar spray market has been segmented into macronutrients and micronutrients. The macronutrients segment has been further divided into nitrogen (N), phosphorus (P), potassium (K), and mixed. The macronutrients segment was the larger foliar spray market, by fertilizer type, in 2017 and is expected to remain so during the forecast period. The nitrogen macronutrients segment was the largest in 2017 as nitrogen is one of the most important nutrients required for protein synthesis in plants.
Based on application, the global foliar spray market has been segregated into horticultural crops, field crops, turfs and ornamentals, and others. The horticultural crops segment accounted for the largest market share in 2017 due to the increasing demand for horticultural crops such as fruits and vegetables to meet the rising food demand of an expanding global population.
Regional Analysis
The global foliar spray market outlook has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East Africa. Europe held the largest market share of the global foliar spray market in 2017, followed by North America. Asia-Pacific is expected to be the fastest-growing market for foliar spray during the forecast period. The Latin American market is also expected to experience considerable growth during the forecast period. The growth of the market in the Middle East Africa is likely to be moderate during the forecast period.
Competitive Landscape
Some of the key players in the global foliar spray market are Coromandel International Limited (India), Yara International ASA (Norway), GSFC Ltd (India), Nutrien Ltd (Canada), EuroChem Group AG (Switzerland), K+S KALI GmbH (Germany), Israel Chemicals Ltd (Israel), the Mosaic Company (US), TRIBOdyn AG (Germany), Haifa Group (Israel), Lima Europe NV (Belgium), and Hebei Monband Water Soluble Fertilizer Co., Ltd (China).
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