The current world population of 7.6 billion people is projected to increase to 8.6 billion in 2030 and 9.8 billion in 2050, according to the Department of Economic and Social Affairs. Urbanization and the demand for building infrastructure will reduce the amount of arable land available. Between 2010 and 2050, per-capita arable land will drop from 0.25 hectares to 0.19 hectares per person. This will drive the foliar fertilizers market's expansion over the forecast period. The only viable option will be to enhance crop yield by optimising fertilizer use and implementing new crop yield-boosting techniques. This is expected to boost the use of foliar fertilizers in the near future. Growing demand for high-quality food products, in addition to rising farmer awareness of environmental issues, has encouraged the use of efficient soil fertilizer application systems such as slow-release fertilizers or liquid nutrient sprays over traditional application methods that use bulky granules or powders. This is one of the most important drivers for the efficient foliar fertilizers market.
Initiatives by the Government to Impact the Regional Landscape of the Foliar Fertilizers Industry
Government initiatives for sustainable agriculture will drive development in the foliar fertilizer market over the forecast period. For instance, the National Mission for Sustainable Agriculture (NMSA) in India, improvements in EU agriculture policy and the United States' Agricultural Risk Coverage are examples of government initiatives that are driving foliar fertilizers revenue growth Due to all of these factors, the agriculture industry will grow steadily throughout the forecast period, driving the foliar fertilizers market. Government training programmes on the application of foliar fertilizers remain crucial in promoting foliar fertilizers demand globally. Furthermore, government subsidies in the fertiliser space have increased farmer confidence in using foliar fertiliser. For instance, in India, fertilizer manufacturing/importing companies receive 100% of the subsidy based on actual sales to the beneficiary through retailers. Increasing awareness of the benefits of foliar fertilizers is projected to result in higher demand for this market.
Recent Developments in Foliar Fertilizers Market Industry:
- Advanced formulations with bio stimulants and controlled-release technologies.
- Launch of eco-friendly and organic foliar fertilizers.
- Collaborations with research institutions and distribution networks to drive innovation.
- Adoption of precision agriculture technologies to optimize foliar fertilizers application.
- Expansion into developing regions, driven by rising agricultural activity.
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Strict Export Policy is Likely to be a Challenge for Market Players
Strict export regulations are becoming a major obstacle for businesses, possibly impeding global trade and market growth. These rules may incur extra expenses for compliance, add logistical complications, and restrict entry to important markets. For instance, due to frequent changes in trade rules, manufacturers are unable to expand their operations. The effect of China's export policy on domestic manufacturers affects supply and global trade dynamics. These factors lead to price volatility in foliar fertilizers products, limiting the expansion of the foliar fertiliser market. Additionally, challenges like low farmer awareness and high fertilizers costs are limiting the market expansion for foliar fertilizers. The health of the plant may suffer from inappropriate foliar fertilizers application. Businesses need to carefully navigate through these strict regulations in order to prevent any interruptions in their supply chains and to stay competitive in the market. Businesses wanting to grow in the global foliar fertilizer market must adhere to these regulations to expand their reach and maintain growth.
The Foliar Fertilizer Market is Growing Through Product Launch, Acquisitions, and Partnerships
The growth of the foliar fertilizers industry is rapidly increasing because of new product releases, strategic purchases, and important collaborations. Recent new products include innovative formulas with controlled-release technology and environmentally friendly options, improving nutrient distribution and eco-friendliness. For instance, in June 2023, ICL, a prominent international company specializing in minerals introduced a new range of advanced foliar and fertigation products in North America under their Nova brand of water-soluble fertilizers. Key products are Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW. Additionally, in March 2022, the Haifa Company has signed a purchase agreement with HORTICOOP BV to acquire Horticoop Andina, a wholesaler specialising in distributing agricultural nutritious goods based in Quito, Ecuador. After the acquisition of the brand, Haifa expects to increase its area of activity in Ecuador and the surrounding Latin market, as well as maintain its position as an international super-brand in advanced plant nutrition.
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A Booming Agriculture Industry in the Asia-Pacific Region Offers a Lucrative Market Opportunity
The Asia Pacific foliar fertilizers industry is driven by a booming agriculture industry and a rise in farming operations as a result of rising population and food demand. Government initiatives to help the agricultural industry, particularly in countries like India and China, have aided the market. According to the FAO, agriculture continues to be the primary source of income for 70% of rural households across India. Additionally, due to increased demand for rice-based cuisines in the region, there has been considerable growth in rice production in Japan. The North American region is crucial for the grass and ornamental foliar fertilizers segment due to the existence of a high number of golf courses and private lawn areas. The continental United States has an estimated 40 million to 50 million acres of lawn, which includes all lawns, stadiums and parks. As a result, global foliar fertilizers use is expected to rise throughout the forecast period.
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The report provides a detailed overview of the foliar fertilizers market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for foliar fertilizers market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the foliar fertilizers market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the foliar fertilizer market. Some key country and region included in the foliar fertilizers market report as follows:
Regions |
Countries |
North America |
United States, Canada |
Latin America |
Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
Europe |
Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Austria, Sweden, Norway, Denmark, Finland, Ireland, Rest of Europe |
Asia Pacific |
China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Vietnam, Thailand, Rest of Asia Pacific |
Middle East and Africa |
GCC Countries, South Africa, Nigeria, Egypt, Morocco, Algeria, Israel, Iran, Kenya, Turkey, Rest of MEA |
Foliar Fertilizers Market Research Report Covers In-depth Analysis on:
- Foliar fertilizers market detailed segments and segment-wise market breakdown
- Foliar fertilizers market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in foliar fertilizers industry)
- Current, historical and forthcoming 10 years market valuation in terms of foliar fertilizer market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Foliar fertilizers market demand analysis
- Foliar fertilizers market pricing analysis over forecast period (by key segment and by region)
- Foliar fertilizers market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in foliar fertilizers market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in foliar fertilizers market
- Foliar fertilizers market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on foliar fertilizers market forecast by countries
- Mergers and acquisitions in foliar fertilizer market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What factors are driving the growth of the foliar fertilizers market?
The growth of the foliar fertilizers market is driven by increasing demand for high-yield crops, rising awareness of sustainable farming practices and advancements in agricultural technologies.
What is the expected market growth for foliar fertilizers over the next decade?
The foliar fertilizers market is projected to grow significantly over the next decade, fueled by innovations in product formulations and increasing adoption of precision agriculture techniques.
What regions are experiencing significant growth in the foliar fertilizer market?
Regions such as North America, Europe and Asia-Pacific are witnessing significant growth in the foliar fertilizers market, driven by increasing agricultural activities and a focus on crop productivity.