Global Secondary Macronutrients Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast
- PUBLISHED ON
- 5/24/2023
- NO OF PAGES
- 266
- CATEGORY
- Food & Beverages
The global Secondary Macronutrients market size was valued at USD 38,350 million in 2022 and is projected to reach USD 47,860 million by 2033, growing at a CAGR of 3.8% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 38,350 million |
Market Forecast in 2033 | USD 47,860 million |
CAGR % 2023-2033 | 3.8% |
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 | Yara International ASA; Nutrien Ltd.; The Mosaic Company; K+S AG; Israel Chemicals Ltd.; Haifa Group; Kugler Company; Compo Expert GmbH; Tessenderlo Group; SQM S.A. |
Global Secondary Macronutrients Market- Description
The secondary macronutrients market refers to the market for essential plant nutrients that are required in relatively large quantities by plants for healthy growth and development. Secondary macronutrients include calcium (Ca), magnesium (Mg), and sulfur (S), which are crucial for plant nutrition and play significant roles in various physiological processes. Secondary macronutrients are essential elements required by plants in larger quantities than micronutrients. They are necessary for proper plant growth, development, and overall productivity. Calcium, magnesium, and sulfur contribute to various physiological functions, including cell division, enzyme activation, photosynthesis, and nutrient uptake. The global agricultural sector is witnessing a growing demand for high-quality crops that meet food safety and nutritional requirements. Secondary macronutrients play a vital role in improving crop quality by enhancing the nutrient composition, disease resistance, and overall plant health. The increasing focus on producing healthy and nutritious crops is driving the demand for secondary macronutrients. Intensive farming practices, excessive use of chemical fertilizers, and improper soil management have led to nutrient imbalances and soil degradation. As a result, there is a need to replenish essential secondary macronutrients in the soil to maintain its fertility and ensure optimal plant growth. The increasing awareness of soil health management and sustainable agriculture practices is boosting the demand for secondary macronutrients.
Global Secondary Macronutrients market: Key Trends
• Adoption of Precision Agriculture Techniques:
Precision agriculture techniques, such as soil testing, nutrient mapping, and variable rate fertilization, are gaining traction in modern farming practices. These techniques enable farmers to precisely assess the nutrient requirements of their crops and apply secondary macronutrients in a targeted manner. The adoption of precision agriculture helps optimize nutrient utilization, reduce input costs, and minimize environmental impact.
• Rising Demand for Organic and Sustainable Farming:
The global shift towards organic and sustainable farming practices is influencing the secondary macronutrients market. Organic farming methods focus on maintaining soil health, biodiversity, and natural nutrient cycles. As secondary macronutrients are essential for sustainable soil management, the demand for organic farming practices is driving the need for these nutrients.
Global Secondary Macronutrients market: Geographical landscape
The secondary macronutrients market can be analyzed based on regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe have well-established agricultural sectors with a high adoption rate of advanced farming techniques. These regions have a significant demand for secondary macronutrients, driven by the need to address soil nutrient depletion and improve crop quality. The Asia Pacific region, including countries like China and India, is experiencing rapid agricultural growth and increasing adoption of modern farming practices. The rising population and changing dietary preferences in these regions contribute to the demand for secondary macronutrients to enhance crop production and nutritional value.
Global Secondary Macronutrients Market- Recent Developments
• In 2023, Nutrien Ltd has announced its intention to expand its fertilizer production capacity in response to significant shifts in the global energy, agriculture, and fertilizer sectors. The company recently conducted a virtual investor update meeting where it shared comprehensive information regarding its strategic growth plans and how it plans to allocate capital. Ken Seitz, Nutrien's Interim President and CEO, emphasized the urgent need to address the task of feeding a growing world population, as global supply constraints have led to increased commodity prices and heightened concerns about global food security. Recognizing that there is no quick or straightforward solution to this challenge, Nutrien believes in the long-term potential for robust agricultural and crop input market fundamentals.
Global Secondary Macronutrients market: Segmental Analysis
Nutrient Type
• Calcium
• Magnesium
• sulfur.
Crop Type
• Cereals
• fruits and vegetables
• oilseeds and pulses
• others.
Form
• Solid (fertilizers)
• liquid (fertilizers, soil amendments).
Application Method
• Soil application
• foliar application
• fertigation.
Global Secondary Macronutrients Market: Key Companies
• Yara International ASA
• Nutrien Ltd.
• The Mosaic Company
• K+S AG
• Israel Chemicals Ltd.
• Haifa Group
• Kugler Company
• Compo Expert GmbH
• Tessenderlo Group
• SQM S.A.
• Others
Global Secondary Macronutrients 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
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The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders.
• Business Model
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• Company Share Analysis from 2018-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification.
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