Global Foliar Sprays Market: Overview
Foliar sprays are used for application of fertilizers directly onto plant leaves. Plants are capable of absorbing nutrients through their leaves and this transport of nutrients is more rapid compared to the transport through roots when a fertilizer is added to soil. Foliar sprays offer an excellent method of providing plants with nutrients they lack, but they are not a substitute for healthy soil. Foliar sprays are easy to apply and they distribute nutrients uniformly onto crops.
Global Foliar Sprays Market: Key Segments
In terms of type, the global foliar sprays market can be segmented into: nitrogenous, phosphatic, potassic, and micronutrients. Nitrogenous is anticipated to be the rapidly expanding type segment during the forecast period. Nitrogenous fertilizers offer basic nutrients required for plant growth and foliar sprays are widely used for application of these fertilizers. In terms of application, the global foliar sprays market can be segmented into: horticultural crops, field crops, and turfs & ornamentals. Horticultural crops is the leading application segment of the global foliar sprays market. With increase in population, land available for cultivation of crops is decreasing and this has raised the need for better methods for fertilizer application. This is likely to be a driving factor for the global foliar sprays market during the forecast period.
Global Foliar Sprays Market: Trends & Developments
The global foliar sprays market is expanding at a significant pace. The growth can be attributed to increased agricultural output led by the use of foliar sprays. Foliar sprays offer an effective method of increasing crop yield from a limited area of land, as nutrients are directly supplied to plants. The growing trend of using organic food items is a restraint of the global foliar sprays market. Fertilizers are sprayed by using foliar sprays and a lot of people are opting for chemical-free products. This is expected to hamper the demand for foliar sprays market, especially in Europe, the U.S., and Japan during the forecast period.
Global Foliar Sprays Market: Regional Outlook
In terms of region, the global global foliar sprays market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is the leading global foliar sprays market across the world. The global foliar sprays market in the region is estimated to expand at a rapid pace during the forecast period. North America is the second-largest global foliar sprays market. The global foliar sprays market in the region is estimated to expand at a significant pace during the forecast period. Asia Pacific is estimated to be a rapidly expanding global foliar sprays market from 2018 to 2026. This can be attributed to the rising need for efficient fertilizers to optimize agricultural production, as limited availability of land for agriculture is a constraint to the market in Asia Pacific. Latin America and Middle East & Africa witness low demand for foliar sprays market and it is anticipated to remain low during the forecast period.
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Global Foliar Sprays Market: Key Players
Some of the key players operating in the global foliar sprays market are EuroChem Group AG (Switzerland), Nutrien (Canada), K+S Aktiengesellschaft (Germany), Yara International ASA (Norway), Israel Chemicals Ltd. (Israel), The Mosaic Company (the U.S.), 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).