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Global Foliar Spray Market to Reach USD 9.4 Billion by 2027, Aided by the Growing Agricultural Sector

According to a new report by EMR titled, ‘Global Foliar Spray Market Report and Forecast 2022-2027’, the global foliar spray industry reached a value of USD 6.8 billion in 2021. The industry is further expected to grow at a CAGR of 5.50% in the forecast period of 2022-2027 to reach USD 9.4 billion by 2027.

The global foliar spray industry is developing due to an increase in the use of foliar sprays as farmers strive to produce higher and better-quality harvests. Foliar sprays effectively deliver important nutrients to crops while reducing waste. Due to the increased awareness about different farming techniques, the development of small farms is anticipated to enhance the demand for foliar sprays. The manufacturers offer a range of premium products for foliar application, all containing pure plant nutrients, free of chloride, sodium, and any other detrimental materials, which is likely to boost the foliar spray industry growth in the forecast period. Nitrogenous foliar spray encourages the healthy development of crops and is widely adopted to aid the growth of young plants. Since foliar uptake of nutrients is significantly faster than root uptake, they are quick-acting, making them an efficient treatment for nutrient shortages. Nitrogenous fertilisers can aid in the reduction of nitrous oxide emissions from agricultural crops. As a result, the segment is expected to increase steadily during the forecast period. The surging demand for cereals, grains, pulses, fruits and vegetables and the rising advent of micro-irrigation and mechanised irrigation systems further propels the market growth.

Rising awareness about the benefits of foliar spray and its product innovations by the major players, an upsurge in the rate of industrialisation, a growing focus on the technological advancements, and modernisation in the production techniques will further propel the growth of the market. In November 2017, TRIBOdyn AG expanded its foliar fertiliser 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 company's export capacity to meet the global demand for foliar fertiliser.

Market Analysis by Chemicals, Product Types, Applications, and Regions:

  • The various chemicals are phosphatic, nitrogenous, potassic, calcium, and micronutrients, among others.
  • The different types of products include powder and liquid.
  • The significant applications include horticulture crops, agriculture crops, orchard crop, vegetables, and turfs, among others.
  • The regional markets for foliar spray include North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • The thriving agriculture industry and an increase in farming activities are driving the foliar spray market.
  • The market is being propelled further by the expanding population, causing increased food demands.
  • The market has benefitted from favourable government initiatives to promote the agricultural industry, particularly in nations like India and China.
  • Rising expenditure for research and development proficiencies by the major companies is augmenting the market growth globally.

Key Offerings of the Report:

  • The EMR report gives an overview of the global foliar spray market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for chemicals, product types, applications, and major regions of foliar spray.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global foliar spray industry are Andaman AG, Aries Agro Limited, Coromandel International Limited, Gujarat State Fertilizers & Chemicals Limited (GSFC), and Sichuan Shucan Chemical Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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