The global foliar spray market is forecast to reach USD 8.96 Billion by 2026, according to a new report by Reports and Data. Foliar spray is a process of feeding plants by directly applying fertilizers to the leaves instead of putting it in the soil. Plants could ingest essential elements through their leaves. The absorption procedure happens through stomata and epidermis. The technology can also be utilized while applying pesticides such as insecticides, herbicides, and biopesticides to the plants.
The market for foliar spray is influenced by the increase in demand from end-use industries such as industrial agriculture, high efficiency of foliar spray products, and ease of application.
Europe is a key region for the foliar spray market during the forecast period. The significant growth in the region is due to the high agriculture expenditure, and emphasis on technologically advanced farming techniques. These factors are expected to give consistent growth to the foliar spray market in the European region.
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Key Participants EuroChem Group AG, Nutrien, K+S Aktiengesellschaft, Yara International ASA, Israel Chemicals Ltd., The Mosaic Company, Gujarat State Fertilizers Chemicals Ltd., Coromandel International Limited, TRIBOdyn AG, and Hebei Monband Water Soluble Fertilizer Co., Ltd. among others.
Further key findings from the report suggest
- The fertilizer segment held a larger market share of 61.9% in the year 2018. Liquid fertilizers are applied to the leaves of the plants, which is more effective than putting it in the soil hence affecting the market growth positively.
- The Europe region held the largest market share of 33.5% in the year 2018. Countries such as Norway, Germany, and the UK have adopted advanced farming technologies which in turn fuels the demand for foliar spray products in the agricultural industries in the region.
- The nitrogenous segment of the foliar spray market is forecasted to grow with the highest CAGR of 6.5% during the forecast period. Nitrogen is the most preferred supplement among all elements for plant growth due to its easy availability and lower price. It helps enhance the yield of corps. Nitrogenous foliar sprays are broadly favored in various applications.
For the purpose of this report, Reports and Data have segmented into the global Foliar Spray market on the basis of foliar type, product type, application, and region:
Foliar Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Fertilizers
- Pesticides
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Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Nitrogenous
- Potassic
- Phosphatic
- Parathion
- Malathion
- Others
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Horticultural Crops
- Field Crops
- Turfs Ornamentals
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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