Foliar Spray Market by Type (Nitrogenous, Phosphatic, Potassic, Micronutrients), Application (Horticultural Crops, Field Crops, Turfs & Ornamentals), and Region (Europe, North America, APAC, South America, RoW) - Global Forecast to 2023
[136 Pages Report] Foliar spray technique is used to apply liquid fertilizers on the leaves. Liquid fertilizers are substances containing primary nutrients and micronutrients which are applied to the leaves and are absorbed by them. These liquid fertilizers are efficiently absorbed through the epidermis layer of the leaves. Foliar spray is the most efficient technique of applying fertilizers to plants. Urea is widely used for foliar applications owing to its high solubility in water and rapid absorption by the plants through their leaves. The foliar spray technique is used to cure nutrient deficiencies.
Foliar Spray Market was valued at USD 5.79 billion in 2018 and is projected to reach USD 7.61 billion by 2023, at a CAGR of 5.6% between 2018 and 2023. Additionally, the market for foliar spray is expected to grow from 6,354.8 Kilotons in 2018 to 8,126.9 Kilotons by 2023, at a CAGR of 5.0% during the forecast period. Growth in the foliar spray market can be attributed to increasing cost of spray, ease of application, innovative production practices, new product offerings, increased availability, and the advent of micro-irrigation and mechanized irrigation systems.
By type, the nitrogenous segment is projected to grow at highest CAGR during the forecast period
Nitrogen is the most predominantly consumed nutrient among all the macro- and micro-elements required for plant growth. Urea, ammonium nitrate, ammonium sulfate, and calcium nitrate are widely available nutrient sources of nitrogen. Various combinations of nutrients are possible to provide nutrition to plants. The nitrogenous segment was the largest type segment of the foliar spray market in 2018 and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the rising demand for nitrogenous fertilizers from various farms as they help increase the yield when applied to any crops.
By application, horticultural crops application segment is projected to lead the foliar spray market during the forecast period
The horticultural sector encompasses a wide range of crops, such as fruit crops, vegetable crops, tuber crops, medicinal & aromatic crops, and spices. Fruits and vegetables have become an indispensable part of the daily dietary intake of individuals, with the increase in awareness regarding their nutritive value. The consumption of fruits had witnessed a double-digit growth between 1990 and 2015; this trend is projected to continue during the forecast period. The high export potential of fruits and vegetables has also led to an increase in the production levels of these crops. In terms of value, the horticultural crop application segment of the foliar spray market is estimated to grow at the highest CAGR during the forecast period.
Foliar fertilizer market in APAC is projected to grow at highest CAGR during the forecast period
Emerging economies, such as India and China, are focusing on maximizing their agricultural output, owing to the increasing population in these countries. Foliar spray is one of the most cost-efficient techniques to apply fertilizers, and is, hence, widely preferred in this region. The increase in demand for food products and the limited agricultural resources in these countries will drive the growth of the market in this region. As such, the foliar spray market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
Market Dynamics
Driver: High efficiency of foliar spray products
Foliar sprays ensure a uniform application of micronutrients to plants with minimum wastage. The foliar spray technique involves the use of fertilizers directly to the leaves of the plant. This technique is highly efficient and results in improving the quality of crops. The ultimate goal of the foliar spray technique is to supply the requisite amount of nutrients to plants through the leaves and prevent the toxification of soil due to over-fertilization. The unique benefits of foliar sprays that include easy application, uniform distribution of nutrients, and increased agricultural output have led to the rising demand for these spray products in lawns and gardens, thereby contributing to the growth of the foliar spray market.
Restraint: Growth of the organic fertilizer industry
The organic food industry has been witnessing significant growth in emerging economies, owing to increasing awareness regarding health, environment protection, food safety, and animal welfare reforms. Organic practices in agriculture reduce the use of chemical fertilizers, which are being substituted by organic manures to provide substantial nutrients to plants. Organically produced farm outputs fetch a higher premium over conventional ones, which is propelling farmers to consider organic farming. Increasing organic farming practices and rising demand for chemical-free products have led to a decline in the use of chemical fertilizers, thereby restraining the growth of the foliar spray market.
Opportunity: Limited availability of land
The significant reduction in arable land over the years has been primarily due to rapid industrialization and an increase in new constructions in countries worldwide. An increase in pastures for animal feed and bio-based chemical feedstock has led to a decline in arable land, owing to the clearance of grass and weed. The decrease in arable land and an increase in demand for agricultural products have propelled farmers to ensure the optimum use of the land available for cultivation. The need to produce high-yield crops has driven the use of efficient fertilizers, such as foliar fertilizers, thereby enhancing growth prospects for the foliar spray market.
Challenge: Volatility in prices
The foliar fertilizer industry is highly regulated. Countries with tight supply-demand status discourage the export of fertilizers through bans. Frequent changes in trade policies restrict manufacturers from expanding their businesses. The influence of Chinas export policy on its domestic producers impacts the available supply and global trade fundamentals. These factors contribute to volatility in prices of foliar spray products, thereby posing as a challenge to the growth of the foliar spray market.
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
Request Sample Scope of the Report
Get online access to the report on the World's First Market Intelligence Cloud
- Easy to Download Historical Data & Forecast Numbers
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
|
Report Metric |
Details |
|
Market size available for years |
20162023 |
|
Base year considered |
2017 |
|
Forecast period |
20182023 |
|
Forecast units |
Value (USD, million/billion), Volume (kilo tons) |
|
Segments covered |
Type, Application, Region |
|
Geographies covered |
North America, Europe, APAC, South America, RoW |
|
Companies covered |
EuroChem Group AG (Switzerland), Nutrien (Canada), K+S Aktiengesellschaft (Germany), Yara International ASA (Norway), Israel Chemicals Ltd. (Israel), The Mosaic Company (US), Gujarat State Fertilizers & Chemicals Ltd. (India), Coromandel International Limited (India), TRIBOdyn AG (Germany), Hebei Monband Water Soluble Fertilizer Co., Ltd. (China), and Haifa Chemicals Ltd. (Israel) |
This research report categorizes the foliar spray market based on type, application, and region. It forecasts revenues as well as analyzes trends in each of these submarkets.
By Type:
- Nitrogenous
- Phosphatic
- Potassic
- Micronutrients
By Application:
- Horticultural Crops
- Field Crops
- Turfs & Ornamentals
- Others
By Region:
- Europe (Germany, UK, Russia, Spain, Italy, Ukraine, RoE)
- North America (US, Canada, Mexico)
- Asia Pacific (India, China, Japan, Australia, Rest of APAC)
- South America (Brazil, Argentina, Rest of South America)
- Rest of the World (the Middle East and Africa)
Key Market Players
EuroChem Group AG (Switzerland), Nutrien (Canada), K+S Aktiengesellschaft (Germany), Yara International ASA (Norway), Israel Chemicals Ltd. (Israel)
Recent Developments
- In December 2017, Potash Corporation of Saskatchewan Inc. (PotashCorp) and Agrium Inc. received clearance from the United States Federal Trade Commission, obtaining all regulatory approvals required to close their proposed merger of equals transaction. The final transaction closed with effect on January 1, 2018. Common shares of the newly formed company, Nutrien, started trading on the Toronto Stock Exchange (TSX) and the New York Stock Exchange from January 2, 2018.
- In November 2017, TRIBOdyn AG expanded its foliar fertilizer production capacity by opening a new manufacturing plant in Northeim. The company invested approximately USD 5.8 million in this facility by the end of 2018. This strategy increased the export capacity of the company to meet the global demand for foliar fertilizer.
- In August 2016, Yara acquired Tata Chemicals Ltd, Babrala urea plant, and its distribution business in Uttar Pradesh, India, for USD 400 million. This helped Yara to strengthen its geographical presence in the fertilizer industry.
- In July 2016, K+S acquired Huludao Magpower Fertilizers Co., Ltd. (China), a producer of magnesium sulfate fertilizers. With this acquisition, K+S expanded its business in South East Asia.
- In July 2016, ICL announced signing a contract to supply an aggregate 700,000 MT of potash to its Chinese customers. This agreement also included the option to purchase additional quantities of potash. The contract demonstrated the relationships that ICL had developed with its customers in China and highlighted ICLs standing as one of the worlds leading suppliers of potash to China.
Key questions addressed in the report
- What are the significant developments impacting the Foliar Spray market?
- Where will the developments take this market in the mid to long term?
- What are the emerging applications of Foliar Spray?
- What are the major factors expected to impact the growth of the market during the forecast period?
- How will the demand for various product types in the Foliar Spray market impact its overall revenue generation?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 28)
4.1 Attractive Growth Opportunities in the Foliar Spray Market
4.2 Foliar Spray Market, By Type
4.3 Foliar Spray Market, By Type and Application
4.4 Foliar Spray Market, By Country
4.5 Foliar Spray Market: Emerging vs Developed Economies
5 Market Overview (Page No. - 31)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Efficiency of Foliar Spray Products
5.2.1.2 Increased Awareness of Foliar Spray Products in Emerging Markets
5.2.1.3 Ease of Application
5.2.2 Restraints
5.2.2.1 Growth of the Organic Fertilizer Industry
5.2.3 Opportunities
5.2.3.1 Limited Availability of Land
5.2.3.2 Environmental Concerns Regarding the Use of Chemical Fertilizers
5.2.4 Challenges
5.2.4.1 Volatility in Prices
5.3 Porters Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Value Chain Analysis
6 Foliar Spray Market, By Type (Page No. - 39)
6.1 Introduction
6.2 Nitrogenous
6.3 Phosphatic
6.4 Potassic
6.5 Micronutrients
7 Foliar Spray Market, By Application (Page No. - 49)
7.1 Introduction
7.2 Horticultural Crops
7.2.1 Orchard Crops
7.2.2 Vegetable & Flower Crops
7.3 Field Crops
7.4 Turfs & Ornamentals
7.5 Others
8 Regional Analysis (Page No. - 58)
8.1 Introduction
8.2 Europe
8.2.1 Germany
8.2.2 UK
8.2.3 Italy
8.2.4 Spain
8.2.5 Russia
8.2.6 Ukraine
8.2.7 Rest of Europe
8.3 North America
8.3.1 US
8.3.2 Canada
8.3.3 Mexico
8.4 Asia Pacific
8.4.1 India
8.4.2 China
8.4.3 Japan
8.4.4 Australia
8.4.5 Rest of Asia Pacific
8.5 South America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of South America
8.6 Rest of World
8.6.1 Middle East
8.6.2 Africa
9 Competitive Landscape (Page No. - 92)
9.1 Overview
9.2 Expansions and Mergers & Acquisitions: the Most Adopted Growth Strategies
9.3 Competitive Situations & Trends
9.3.1 Expansions
9.3.2 Mergers & Acquisitions
9.3.3 Agreements
9.3.4 Partnerships & Joint Ventures
9.3.5 Investments
9.3.6 New Product Developments
10 Company Profiles (Page No. - 100)
Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View
10.1 Eurochem Group AG
10.2 Nutrien
10.3 K+S Aktiengesellschaft
10.4 Yara International Asa
10.5 Israel Chemical Ltd. (ICL)
10.6 The Mosaic Company
10.7 Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
10.8 Coromandel International Limited
10.9 Tribodyn AG
10.10 Hebei Monband Water Soluble Fertilizer Co., Ltd.
10.11 Haifa Chemicals Ltd
*Details Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 129)
11.1 Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets Subscription Portal
11.4 Introducing RT: Real-Time Market Intelligence
11.5 Available Customizations
11.6 Related Reports
11.7 Author Details
List of Tables (99 Tables)
Table 1 Foliar Spray Market Snapshot
Table 2 Foliar Spray Market, By Type, 20162023 (USD Million)
Table 3 Foliar Spray Market, By Type, 20162023 (Kilotons)
Table 4 Nitrogenous Foliar Spray Market, By Region, 20162023 (USD Million)
Table 5 Nitrogenous Foliar Spray Market, By Region, 20162023 (Kilotons)
Table 6 Phosphatic Foliar Spray Market, By Region, 20162023 (USD Million)
Table 7 Phosphatic Foliar Spray Market, By Region, 20162023 (Kilotons)
Table 8 Potassic Foliar Spray Market, By Region, 20162023 (USD Million)
Table 9 Potassic Foliar Spray Market, By Region, 20162023 (Kilotons)
Table 10 Micronutrients Foliar Spray Market, By Region, 20162023 (USD Million)
Table 11 Micronutrients Foliar Spray Market, By Region, 20162023 (Kilotons)
Table 12 By Market, By Application, 20162023 (USD Million)
Table 13 By Market, By Application, 20162023 (Kilotons)
Table 14 By Market in Horticultural Crops, By Region, 20162023 (USD Million)
Table 15 By Market in Horticultural Crops, By Region, 20162023 (Kilotons)
Table 16 By Market in Field Crops, By Region, 20162023 (USD Million)
Table 17 By Market in Field Crops, By Region, 20162023 (Kilotons)
Table 18 By Market in Turfs & Ornamentals, By Region, 20162023 (USD Million)
Table 19 By Market in Turfs & Ornamentals, By Region, 20162023 (Kilotons)
Table 20 By Market in Other Applications, By Region, 20162023 (USD Million)
Table 21 By Market in Other Applications, By Region, 20162023 (Kilotons)
Table 22 By Market, By Region, 20162023 (USD Million)
Table 23 By Market, By Region, 20162023 (Kilotons)
Table 24 Europe By Market, By Country, 20162023 (USD Million)
Table 25 Europe By Market, By Country, 20162023 (Kilotons)
Table 26 Europe By Market, By Type, 20162023 (USD Million)
Table 27 Europe By Market, By Type, 20162023 (Kilotons)
Table 28 Europe By Market, By Application, 20162023 (USD Million)
Table 29 Europe By Market, By Application, 20162023 (Kilotons)
Table 30 Germany By Market, By Type, 20162023 (USD Million)
Table 31 Germany By Market, By Type, 20162023 (Kilotons)
Table 32 UK By Market, By Type, 20162023 (USD Million)
Table 33 UK By Market, By Type, 20162023 (Kilotons)
Table 34 Italy By Market, By Type, 20162023 (USD Million)
Table 35 Italy By Market, By Type, 20162023 (Kilotons)
Table 36 Spain By Market, By Type, 20162023 (USD Million)
Table 37 Spain By Market, By Type, 20162023 (Kilotons)
Table 38 Russia By Market, By Type, 20162023 (USD Million)
Table 39 Russia By Market, By Type, 20162023 (Kilotons)
Table 40 Ukraine By Market, By Type, 20162023 (USD Million)
Table 41 Ukraine By Market, By Type, 20162023 (Kilotons)
Table 42 Rest of Europe By Market, By Type, 20162023 (USD Million)
Table 43 Rest of Europe By Market, By Type, 20162023 (Kilotons)
Table 44 North America By Market, By Country, 20162023 (USD Million)
Table 45 North America By Market, By Country, 20162023 (Kilotons)
Table 46 North America By Market, By Type, 20162023 (USD Million)
Table 47 North America By Market, By Type, 20162023 (Kilotons)
Table 48 North America By Market, By Application, 20162023 (USD Million)
Table 49 North America By Market, By Application, 20162023 (Kilotons)
Table 50 US By Market, By Type, 20162023 (USD Million)
Table 51 US By Market, By Type, 20162023 (Kilotons)
Table 52 Canada By Market, By Type, 20162023 (USD Million)
Table 53 Canada By Market, By Type, 20162023 (Kilotons)
Table 54 Mexico By Market, By Type, 20162023 (USD Million)
Table 55 Mexico By Market, By Type, 20162023 (Kilotons)
Table 56 Asia Pacific By Market, By Country, 20162023 (USD Million)
Table 57 Asia Pacific By Market, By Country, 20162023 (Kilotons)
Table 58 Asia Pacific By Market, By Type, 20162023 (USD Million)
Table 59 Asia Pacific By Market, By Type, 20162023 (Kilotons)
Table 60 Asia Pacific By Market, By Application, 20162023 (USD Million)
Table 61 Asia Pacific By Market, By Application, 20162023 (Kilotons)
Table 62 India By Market, By Type, 20162023 (USD Million)
Table 63 India By Market, By Type, 20162023 (Kilotons)
Table 64 China By Market, By Type, 20162023 (USD Million)
Table 65 China By Market, By Type, 20162023 (Kilotons)
Table 66 Japan By Market, By Type, 20162023 (USD Million)
Table 67 Japan By Market, By Type, 20162023 (Kilotons)
Table 68 Australia By Market, By Type, 20162023 (USD Million)
Table 69 Australia By Market, By Type, 20162023 (Kilotons)
Table 70 Rest of Asia Pacific By Market, By Type, 20162023 (USD Million)
Table 71 Rest of Asia Pacific By Market, By Type, 20162023 (Kilotons)
Table 72 South America By Market, By Country, 20162023 (USD Million)
Table 73 South America By Market, By Country, 20162023 (Kilotons)
Table 74 South America By Market, By Type, 20162023 (USD Million)
Table 75 South America By Market, By Type, 20162023 (Kilotons)
Table 76 South America By Market, By Application, 20162023 (USD Million)
Table 77 South America By Market, By Application, 20162023 (Kilotons)
Table 78 Brazil By Market, By Type, 20162023 (USD Million)
Table 79 Brazil By Market, By Type, 20162023 (Kilotons)
Table 80 Argentina By Market, By Type, 20162023 (USD Million)
Table 81 Argentina By Market, By Type, 20162023 (Kilotons)
Table 82 Rest of South America By Market, By Type, 20162023 (USD Million)
Table 83 Rest of South America By Market, By Type, 20162023 (Kilotons)
Table 84 Rest of the World By Market, By Region, 20162023 (USD Million)
Table 85 Rest of the World By Market, By Region, 20162023 (Kilotons)
Table 86 Rest of the World By Market, By Type, 20162023 (USD Million)
Table 87 Rest of the World By Market, By Type, 20162023 (Kilotons)
Table 88 Rest of the World By Market, By Application, 20162023 (USD Million)
Table 89 Rest of the World By Market, By Application, 20162023 (Kilotons)
Table 90 Middle East By Market, By Type, 20162023 (USD Million)
Table 91 Middle East By Market, By Type, 20162023 (Kilotons)
Table 92 Africa By Market, By Type, 20162023 (USD Million)
Table 93 Africa By Market, By Type, 20162023 (Kilotons)
Table 94 Expansions, 2012-2017
Table 95 Mergers & Acquisitions, 2012-2017
Table 96 Agreements, 2012-2017
Table 97 Partnerships & Joint Ventures, 2012-2017
Table 98 Investments, 2012-2017
Table 99 New Product Developments, 2012-2017
List of Figures (42 Figures)
Figure 1 Foliar Spray Market: Research Design
Figure 2 Breakdown of Primary Interviews, By Company Type, Designation, and Region
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Data Triangulation
Figure 6 Nitrogenous Type Segment Projected to Lead Foliar Spray Market During Forecast Period
Figure 7 Europe Estimated to Account for Largest Share of the Foliar Spray Market for Turfs & Ornamentals in 2018
Figure 8 Foliar Spray Market, By Region, 2018
Figure 9 Foliar Spray Market in Asia Pacific Projected to Grow at Highest CAGR During Forecast Period
Figure 10 Increasing Demand for Foliar Spray From Various Applications to Drive Foliar Spray Market
Figure 11 Nitrogenous Type Segment Projected to Grow at Highest CAGR During Forecast Period
Figure 12 Horticultural Crops Application Segment Estimated to Account for Largest Share of Foliar Spray Market in 2018
Figure 13 Foliar Fertilizer Market in India Projected to Grow at Highest CAGR During Forecast Period
Figure 14 India Projected to Be Fastest Growing Market Among Emerging Countries
Figure 15 Foliar Spray Market Dynamics
Figure 16 Porters Five Forces Analysis
Figure 17 Value Chain Analysis: Major Value is Added During Registration and Manufacturing
Figure 18 Nitrogenous Type Segment Projected to Lead the Foliar Spray Market During the Forecast Period
Figure 19 Nitrogenous Foliar Spray Market in Asia Pacific Projected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Phosphatic Foliar Spray Market in Asia Pacific and North America Projected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Potassic Foliar Spray Market Projected to Grow at the Highest CAGR in Asia Pacific and North America During the Forecast Period
Figure 22 Micronutrients Foliar Spray Market in Asia Pacific Projected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Horticultural Crops Application Segment Projected to Lead the Foliar Spray Market During the Forecast Period
Figure 24 Horticultural Crops Application Segment in Asia Pacific Projected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Europe Projected to Lead the Foliar Spray Market in Field Crops From 2018 to 2023
Figure 26 The Asia Pacific Foliar Spray Market in Turfs & Ornamentals Projected to Grow at the Highest CAGR During the Forecast Period
Figure 27 The Asia Pacific Foliar Spray Market in Other Applications Projected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Europe Foliar Spray Market Snapshot
Figure 29 North America Foliar Spray Market Snapshot
Figure 30 Asia Pacific Foliar Spray Market Snapshot
Figure 31 South America Foliar Spray Market Snapshot
Figure 32 Rest of the World Foliar Spray Market Snapshot
Figure 33 Key Growth Strategies in the Foliar Spray Market, 2012-2017
Figure 34 Companies Primarily Adopted Inorganic Growth Strategies Between 2012 and 2017
Figure 35 Eurochem Group AG: Company Snapshot
Figure 36 Nutrien: Company Snapshot
Figure 37 K+S Aktiengesellschaft: Company Snapshot
Figure 38 Yara International Asa: Company Snapshot
Figure 39 Israel Chemical Ltd.: Company Snapshot
Figure 40 The Mosaic Company: Company Snapshot
Figure 41 Gujarat State Fertilizers & Chemicals Ltd: Company Snapshot
Figure 42 Coromandel International Limited: Company Snapshot
Growth opportunities and latent adjacency in Foliar Spray Market