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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Foliar Spray Market Outlook
The global foliar spray market stood at a value of around USD 7.57 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.50% to reach USD 12.29 billion by 2032.
The Nitrogenous Segment Based on Chemical Holds a Significant Share in the Global Foliar Spray Industry
The nitrogenous segment based on chemical accounts for a significant share in the market. Nitrogenous foliar spray encourages healthy development of crops and is widely adopted to accelerate the growth of young plants. These are fast acting, as foliar uptake of nutrients is much faster than root uptake, making it an effective method in treating nutrient deficiencies. Additionally, the use of nitrogenous fertilisers can help reduce nitrous oxide emissions from agricultural fields. Hence, the segment is anticipated to witness a steady growth in the forecast period.
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The Asia Pacific Accounts for a Significant Share in the Market
The foliar spray industry in the Asia Pacific is driven by the thriving agriculture industry and an increase in farming activities owing to the rising population and subsequent increase in food demands. The favourable government initiatives to support the agricultural sector, especially in countries like India and China, have been aiding the market. Furthermore, a significant increase in rice farming in Japan has been witnessed due to the rising demand for rice-based cuisines in the region.
Foliar Spray Market Segmentation
Foliar spray is defined as a chemical or fertiliser that is sprayed onto plants to provide them with essential nutrients during their vegetative and generative stages. Foliar spraying is a good way to supplement the nutritional needs of plants, especially when a plant is suffering from certain nutrient deficiencies. Foliar nutrition leads to the optimal growth of plants and contributes significantly to higher yields and better quality.
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Based on chemical, the market can be segmented into:
- Phosphatic
- Nitrogenous
- Potassic
- Calcium
- Micronutrients
- Others
The market based on product type is bifurcated into:
- Powder
- Liquid
The major applications of the product include:
- Horticulture Crops
- Agriculture Crops
- Orchard Crop
- Vegetables
- Turfs
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Growing Agricultural Sector and the Increasing Adoption of Modern Farming Practices to Boost the Growth of the Foliar Spray Industry
The rising application of foliar sprays due to the growing focus of farmers on producing higher and better-quality yields is driving the market growth. Foliar sprays efficiently provide essential nutrients to the crops with minimum wastage. The development of small farms owing to the increased awareness about different farming techniques is anticipated to enhance the demand for foliar sprays. Moreover, a range of premium products for foliar application offered by the manufacturers, all containing pure plant nutrients, free of chloride, sodium, and any other detrimental materials is likely to boost the foliar spray industry growth in the forecast period.
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Key Industry Players in the Global Foliar Spray Market
The report gives a detailed analysis of the following key players in the global foliar spray market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Andaman AG
- Aries Agro Limited
- Coromandel International Limited
- Gujarat State Fertilizers & Chemicals Limited (GSFC)
- Sichuan Shucan Chemical Co. Ltd
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Chemical |
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Foliar Spray Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global foliar spray market attained a value of nearly USD 7.57 billion.
The market is estimated to grow at a CAGR of 5.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 12.29 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the industry, such as the rising application of foliar sprays in treating nutrient deficiencies in plants, growing agricultural sector, and rising food demands, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid adoption of modern agricultural practices and the availability of a wide range of foliar nutrition products.
Phosphatic, nitrogenous, potassic, calcium, and micronutrients, among others are the different chemicals considered within the market report.
Powder and liquid are the different product types in the market.
Horticulture crops, agriculture crops, orchard crop, vegetables, and turfs, among others are the different applications of the product.
The major players in the industry are Andaman AG, Aries Agro Limited, Coromandel International Limited, Gujarat State Fertilizers & Chemicals Limited (GSFC), and Sichuan Shucan Chemical Co. Ltd, among others.
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