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Market Summary:

The global Foliar Spray Market is estimated to reach a valuation of USD 9.48 Billion by the end of 2027 from USD 5.98 Billion in 2019, growing at a rate of 5.9% through the forecast period. The report offers a comprehensive overview of the industry by examining key elements, including market trends, market growth, market share, revenue share, price analysis, and competitive landscape. Foliar spray technique is predominantly used to apply fertilizers, containing primary nutrients and micronutrients, on to the plants. It is the most efficient technique of providing fertilizers to the plant.

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It finds extensive usage in agricultural industries and is one of the major revenue growth and market growth driving factors. The products offered in the market are extensively used in the agricultural sector and is it one of the fastest-growing industry of the world. It accounts for the highest exported and imported products in the world. Due to expansion in the farming and agricultural industries, a rise in the investment in the global market is witnessed. This growth can be attributed to ease of application, innovation in technology, increasing demand for the market, and advancement in irrigation systems, among others.

The rapid expansion of the agricultural market and advancements in technology, along with a rapid demand in smart agriculture techniques is driving the growth of the global market in the Asia-Pacific region. The growth is also driven by a growing population in the APAC region. However, stringent government policies and regulations regarding the chemical fertilizers are expected to hinder market growth. The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth. The study also focuses on other product types, both existing and emerging products available in the sector, such as calcium boron foliar spray, cannabis foliar spray, seaweed foliar spray, iron foliar spray, trichoderma viride foliar spray, magnesium foliar spray, coconut water foliar spray, citric acid foliar spray, urea foliar spray, nitrogen foliar spray, chelated iron foliar spray, phosphoric acid foliar spray, optic foliar spray, and potash foliar spray.

Foliar Type Outlook:

Based on the foliar type, the pesticide segment held the largest market share and revenue share and is expected to show significant growth in the coming years. The fertilizer segment is forecasted to grow at a high CAGR during the forecast period owing to increased demand in providing accurate nutrients content and increasing pest and disease resistance. The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth.

Product Type Outlook:

Based on product type, nitrogen is the predominant nutrient required for plant growth and is expected to show significant growth in the coming years. The nitrogen segment held the largest market share in the historical years and is projected to grow at a high CAGR throughout the forecast period owing to the surge in demand for fertilizers rich in nitrogen to increase crop yield. The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth of each segment. The study also focuses on other product types, both existing and emerging products available in the sector, such as calcium boron foliar spray, cannabis foliar spray, seaweed foliar spray, iron foliar spray, trichoderma viride foliar spray, magnesium foliar spray, coconut water foliar spray, citric acid foliar spray, urea foliar spray, nitrogen foliar spray, chelated iron foliar spray, phosphoric acid foliar spray, optic foliar spray, and potash foliar spray.

Application Outlook:

Based on the application outlook, the horticulture sub-segment is expected to lead the application segment registering a high CAGR throughout the forecast timeline. This can be attributed to the increased consumption of fruits and vegetable crops. Moreover, the surge in the export and import of high-quality fruits and vegetables is also estimated to contribute to the increasing revenue share of the market. The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth of each segment.

Regional Outlook:

Based on the key geographical regions, Asia-Pacific is expected to grow exponentially throughout the forecast period owing to rapid population rise and expansion of the agricultural sector in emerging economies like India and China. The surge in demand for food products and increasing yield of crops is driving the demand in this region. North America is expected to hold the second-highest market and revenue share. Additionally, the Latin American region is expected to show significant growth owing to the expansion of agricultural industries in Argentina and Brazil, among others.

Market-O-Nomics:

Foliar spray technique is predominantly used to apply fertilizers, containing primary nutrients and micronutrients, on to the plants. It is the most efficient technique of providing fertilizers to the plant.

The rapid expansion of the agricultural market and advancements in technology, along with a rapid demand in smart agriculture techniques, is driving the growth of the global market in the Asia-Pacific region.

The nitrogen segment held the largest market share in the historical years and is projected to grow at a high CAGR throughout the forecast period owing to the surge in demand for fertilizers rich in nitrogen to increase crop yield.

Latin American region is expected to show significant growth owing to the expansion of agricultural industries in Argentina and Brazil, among others.

The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth.

Competitive Landscape:

The industry includes some key players and manufacturers across the globe. The report studies the leading companies by evaluating key aspects like share, demand, supply, size, price, trends, product portfolios, and industry growth. Some prominent players operating in the market are EuroChem Group AG, Nutrien, K+S Aktiengesellschaft, Yara International ASA, Israel Chemicals Ltd., The Mosaic Company, Gujarat State Fertilizers & Chemicals Ltd., Coromandel International Limited, TRIBOdyn AG, and Hebei Monband Water Soluble Fertilizer Co., Ltd. among others.

Start-up Traction:

The industry is witnessing a surge in the number of start-ups and small scale research-based companies owing to increased investments and technological developments. The increased need for extensive research to develop smart agricultural products is driving the emergence of new players.

Deal Landscape:

Strategic alliances are a crucial part of the industry. Several established companies are forming alliances with start-ups, other companies, or small scale businesses to undertake product developments, technological advancements, and R&D advancements.

In 2017, Potash Corporation of Saskatchewan Inc. and Agrium Inc. successfully merged to bring about developments and innovations in technology and products, and the company was named Nutrien. It was registered in the Toronto Stock Exchange and NYSE.

Expert Insights:

Reports and Data forecasts promising developments and growth in the market. According to industry experts, the growing adoption of smart fertilizer application techniques and expansion of the agricultural sector are garnering traction in the market. Moreover, strategic alliances, increased investments, trends, and the emergence of new players are expected to boost the growth of the market. The report studies the sector by evaluating key aspects like demand, share, size, supply, price, trends, and industry growth.

Segments Covered in the Report:

The report offers a revenue growth estimation on a global and regional level for the forecast period of 2020-2027. The report offers an extensive analysis of the emerging and current trends of the sub-segments and segments in each region for the forecast period.

For this study, the market has been further segmented based on foliar types, product types, applications, and key regions.

Foliar Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Fertilizer

Pesticide

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Nitrogenous

Potassic

Phosphatic

Parathion

Malathion

Others

Application Outlook

(Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Horticultural Crops

Field Crops

Turfs & Ornamentals

Others

Regional Outlook

(Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

North America Canada U.S.

Europe Italy Germany U.K France Rest of EU

Asia-Pacific India China Japan South Korea Rest of APAC

Latin America Brazil Argentina Rest of Latin America

Middle East & Africa South Africa Saudi Arabia U.A.E Rest of MEA

