Foliar Spray Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2033
- PUBLISHED ON
- 2024-06-01
- NO OF PAGES
- 292
- CATEGORY
- Chemicals & Materials
Foliar Spray market size was valued at USD 7,000 million in 2022 and is projected to reach USD 9,000 million by 2033, growing at a CAGR of 5.5% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 7,000 million |
Market Forecast in 2033 | USD 9,000 million |
CAGR % 2023-2033 | 5.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Syngenta AG; Bayer AG; BASF SE; Corteva Agriscience; FMC Corporation; Dow AgroSciences LLC; UPL Limited; Sumitomo Chemical Co., Ltd.; Nufarm Limited; Adama Agricultural Solutions Ltd. |
Foliar Spray Market- Description
The foliar spray market refers to the market for products used in foliar spraying, which is a common agricultural practice where liquid solutions or suspensions are sprayed onto plant leaves. These products contain essential nutrients, fertilizers, pesticides, growth regulators, or other substances that are absorbed by the leaves and transported throughout the plant to provide nutrition, protection, or other desired effects.
Manufacturers are investing in research and development to create specialized foliar spray formulations that address specific crop needs. These formulations may include micronutrients, plant hormones, bio-stimulants, or other additives tailored to enhance crop growth, yield, disease resistance, or stress tolerance. Customized formulations for specific crops or growth stages are becoming more prevalent in the market.
Foliar Spray Market: Key Trends
• Increasing demand for precision agriculture
• Growing emphasis on sustainable agriculture
There is a rising awareness and demand for sustainable agricultural practices. Foliar sprays offer an environmentally friendly alternative to traditional soil application methods, as they require smaller amounts of fertilizers or pesticides. Additionally, foliar sprays can be formulated using organic or bio-based ingredients, catering to the growing market for organic and sustainable farming.
Foliar Spray market: Segmental Analysis
Product Type
• Nitrogenous
• Phosphatic
• Potassic
• Micronutrients
Form
• Powder
• Liquid
Application
• Horticultural Crops
• Field Crops
• Turfs & Ornamentals
Foliar Spray market: Geographical landscape
The foliar spray market has witnessed significant growth in various regions across the globe. This regional analysis will highlight the key trends and factors driving the market's growth in different parts of the world. The North American foliar spray market has experienced steady growth due to several factors.
Foliar Spray Market- Impact of Covid 19
The global pandemic led to disruptions in supply chains across various industries, including agriculture. Restrictions on movement, lockdown measures, and reduced transportation capacity affected the availability of raw materials and the distribution of foliar spray products. This disruption in the supply chain could have resulted in delayed production, reduced inventory, and increased prices.
Foliar Spray Market: Key Companies
• Syngenta AG
• Bayer AG
• BASF SE
• Corteva Agriscience
• FMC Corporation
• Dow AgroSciences LLC
• UPL Limited
• Sumitomo Chemical Co., Ltd.
• Nufarm Limited
• Adama Agricultural Solutions Ltd.
• Others
Foliar Spray Market: Regional Scope
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Quality Assurance Process
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Market Research Process
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global Foliar Spray market size was valued at USD 7,000 million in 2022 and is projected to reach USD 9,000 million by 2033, growing at a CAGR of 5.5% during the forecast period.
What are the drivers shaping various markets?
Growing emphasis on sustainable agriculture: - There is a rising awareness and demand for sustainable agricultural practices. Foliar sprays offer an environmentally friendly alternative to traditional soil application methods, as they require smaller amounts of fertilizers or pesticides. Additionally, foliar sprays can be formulated using organic or bio-based ingredients, catering to the growing market for organic and sustainable farming.
Who are the key competitors of market Players?
Some of the major players operating within the market are Syngenta AG; Bayer AG; BASF SE; Corteva Agriscience; FMC Corporation; Dow AgroSciences LLC; UPL Limited; Sumitomo Chemical Co., Ltd.; Nufarm Limited; Adama Agricultural Solutions Ltd.
What are the top performing segments, and countries / regions of each of the markets?
The North American foliar spray market has experienced steady growth due to several factors. The region has a well-established agriculture sector, with a high adoption rate of advanced farming techniques and technologies. Farmers in North America are increasingly using foliar sprays to enhance crop yields and improve plant health.
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