These days, the use of efficient fertilizer varieties to support plant nutrition is one of the foremost challenges faced by farmers. With a view to restructure this process, foliar fertilizers are brought into practice that are supplements known to enhance the intake and uptake adeptness of nutrients from the soil. In the past few years, foliar fertilizers market has seen greater traction and the trend is likely to continue in the coming years. Fact.MR has recently added a new research titled “Foliar Fertilizers Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029”, which prudently discourse vital market factors such as strategy review, opportunity assessment, supply demand scenario, challenges, PESTLE analysis and Porter’s Five Forces analysis.
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As mentioned in the assessment, foliar fertilizers are stimulating market growth on their capability to enable water absorption, respiration and cellular activities, which directly boosts the healthy growth of plants. In addition, during foliar feeding, the nutrient uptake efficiency scales up to eight times in comparison to direct nutrient delivery to the soil. Looking at all such facts, the global foliar fertilizers market is predicted to advance at an average growth rate of 4.3% during the forecast period (2019-2029). Interestingly, several key fertilizer manufacturers have organized targeted marketing tactics to leverage new prospects of over US$ 900 Mn in the global foliar fertilizers market.
Inclination towards Micronutrients Rise with Rapidly Declining Arable Land
According to research experts, the global population is likely to surpass ~9.7Bn by 2050. Therefore, urbanization and demand for infrastructural developments would contract the available section of arable land. To be precise, the per-capita arable land will shrink from 0.25 per hectare to 0.19 hectare per person during the period between 2010 and 2050. Such a scenario is projected to fuel growth in the global foliar fertilizers market as the only viable option to sustain such a rising population is through increasing crop yield by augmenting fertilizer use.
Government Schemes to Restructure Regional Setting of Foliar Fertilizers Market
With a stern outlook into the global market for foliar fertilizers, it has been analyzed that government initiatives for sustainable agriculture is likely to strengthen demand for foliar fertilizers during the assessment period. For instance, alterations in EU farm policy and Agricultural Risk Coverage by United States, National Mission for Sustainable Agriculture (NMSA) in India, are few active examples of government initiatives which are pushing the sales of foliar fertilizers. In addition, China’s foreign investment focused towards farming, fishing and forestry has developed fivefold from 2010 to 2018. Accredited to all such facts, the agriculture sector will exhibit steady growth during the forecast period, thereby, driving the foliar fertilizers market to achieve greater goals.
In 2018, APEJ clearly dominated the foliar fertilizers market and acquired a revenue share close to US$ 600 Mn. The Fact.MR study clearly highlights that China and India are predicted to guide the APEJ foliar fertilizers market, recording nearly 70% of the regional market share. Furthermore, there are sufficient opportunities for market growth across developing nations such as India, Indonesia, Africa and others, since the population of consumers in those regions are suffering from malnutrition and the need for food is escalating.
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Finally, the report does discuss the contributions by primary manufacturers active in the global foliar fertilizer market. Some of the leading players as mentioned in the report are Yara International ASA., The Mosaic Company, Sociedad Química y Minera de Chile S.A., Nachurs Alpine Solutions Inc., Grasshopper Fertilizer Company, Gujarat State Fertilizers & Chemicals Limited, Zuari Agro Chemicals Limited etc.
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