(EMAILWIRE.COM, November 19, 2024 ) The global secondary macronutrients market is valued at USD 38.6 billion in 2022. It is projected to reach USD 48.5 billion by 2028, recording a CAGR of 4.0% during the forecast period. In order to maximize production potential, high-yielding crop types need extra nutrients, especially secondary macronutrients. A better balanced nutrient supply is needed to meet consumer demands for food that is not only high-yielding but also nutrient-dense and of excellent quality. These are the factors that are propelling the growth of the secondary macronutrient market.
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By Nutrient: Calcium to Dominate the Market During the Study Period.
Calcium plays a crucial role in plant health, facilitating normal root system development, healthy fruit set, and high-quality fruit growth. It stimulates photosynthesis and enhances nitrogen utilization, promoting overall plant vigor. By increasing root mass, calcium supports faster, better spring growth and ensures crop uniformitya key factor for row crops and forage growers. Additionally, calcium improves soil structure, creating aerated, healthy soils. Since calcium is immobile within plants, a continuous supply is essential, driving the growth of the calcium segment in the secondary macronutrients market.
By Crop Type: Fruits & Vegetables to Grow at the Highest CAGR During the Research Period.
The rising health consciousness among individuals across age groups has significantly boosted the demand for fresh produce, particularly fruits and vegetables. In developed countries like the US, Canada, the UK, and Germany, the adoption of veganism has further positioned fruits and vegetables as essential sources of vitamins and minerals. This increasing demand is expected to drive higher production of these crops. However, deficiencies in secondary macronutrients, such as calcium, can severely impact crop yield and quality. For example, calcium deficiency results in smaller, thickened leaves, reduced vigor, thinning foliage, and decreased fruit production, underscoring the importance of these nutrients.
By Mode of Application: Liquid Segment to Command a Major Market Share During the Study Period.
Liquid fertilizers offer superior precision and efficiency, improving nutrient availability and plant response. Unlike granular fertilizers, liquid fertilizers can be evenly applied up to the edge of fields, penetrating the soil more quickly and enabling plants to access nutrients sooner. This method often delivers immediate benefits, particularly early in the season when rapid root growth is critical for plant establishment. Farmers benefit from precise application, ensuring nutrients are delivered exactly where plants need them, leading to optimized crop performance.
By Form: Dry Segment to Lead the Market During the Review Period.
Dry fertilizers are valued for their slow nutrient release and extended storage life compared to some liquid fertilizers, which may settle over time. Cost-effective in bulk and containing long-lasting nutrients, dry fertilizers are ideal for pre-planting field applications. Typically produced in granular form, these fertilizers can be custom-blended to meet specific crop requirements (e.g., 46-0-0, 18-46-0, 0-0-60 formulations). Access to such tailored blends enables farmers to optimize fertility programs, improve crop production efficiency, and achieve more profitable outcomes.
South America: The Fastest-Growing Region in the Secondary Macronutrients Market
South America is projected to be the fastest-growing region in the secondary macronutrients market during the study period. The region’s robust agricultural sector plays a crucial role in its economy, driving the demand for secondary macronutrient fertilizers. These fertilizers are instrumental in enhancing crop yields and boosting farmers’ profitability.
The increasing availability and affordability of secondary macronutrient fertilizers in South America have made them more accessible to farmers. Additionally, many countries in the region are major exporters of agricultural products, and the use of these fertilizers helps ensure that crops meet the quality standards required by global markets. These factors collectively position South America for accelerated growth in the secondary macronutrients market.
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Top Secondary Macronutrients Companies
Key players in this market include Nutrien Ltd. (Canada), Yara (Norway), The Mosaic Company (US), Israel Chemicals Limited (Israel), K+S Aktiengesellschaft (Germany), Nufarm (Australia), SPIC (India), Koch Industries, INC. (US), Coromandel International (India), Deepak Fertilisers and Petrochemicals Corporation Ltd. (India), Haifa Negev Technologies LTD (Israel), Kugler Company (USA), IFFCO (India), Western Nutrient Corporation (US), and Arise Agro Limited (India).
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