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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
Market Overview

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.

Foliar spraying has gained significant popularity in modern agriculture due to its effectiveness and convenience. It allows farmers and growers to directly apply nutrients or treatments to the leaves, bypassing the soil and potential nutrient loss or inefficiencies associated with soil application. Foliar spraying is particularly useful in cases where the plants have nutrient deficiencies, require targeted treatments, or face stress conditions.

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

Precision agriculture techniques, such as foliar spraying, have gained momentum in recent years. With advancements in technology, farmers can now use drones, satellite imagery, and sensors to identify specific areas of crop stress or nutrient deficiencies. Foliar sprays are then applied precisely to these targeted areas, leading to improved crop health and increased yields.

• 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.

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. Additionally, the growing demand for organic and sustainable farming practices has further fueled the market growth in the region. Europe has also emerged as a prominent market for foliar sprays. The region's focus on sustainable agriculture and stringent regulations on chemical pesticide usage have led farmers to seek alternative solutions like foliar sprays. Moreover, the increasing awareness among consumers regarding food safety and quality has driven the demand for residue-free crops, thereby boosting the adoption of foliar sprays in Europe.

The Asia Pacific region holds immense growth potential for the foliar spray market. Countries like China and India have a large agricultural base, and farmers are increasingly adopting modern farming practices to meet the growing food demand. The rising population, changing dietary patterns, and increasing awareness about the benefits of foliar sprays have contributed to market growth in this region. Additionally, the presence of a large number of small-scale farmers who rely on cost-effective solutions has further fueled the demand for foliar sprays in Asia Pacific.

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.

The pandemic affected the overall demand for agricultural products, including foliar sprays. The closure of restaurants, hotels, and other food service establishments, as well as changes in consumer behavior, led to shifts in demand patterns. While some sectors experienced a decline in demand due to reduced agricultural activities, others, such as the home gardening segment, witnessed an increase in demand as people turned to growing their own food during lockdowns.

With changes in demand, there may have been shifts in the types of foliar sprays that were in higher demand. For example, there might have been increased demand for organic or environmentally friendly foliar sprays as consumers became more conscious about sustainable and safe agricultural practices.

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

North America
• 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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