Global Foliar Spray Market to Reach $7.8 Billion by 2026

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Apr 18, 2022, 10:45 ET

SAN FRANCISCO, April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Foliar Spray - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

Global Foliar Spray Market to Reach $7.8 Billion by 2026

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Edition: 9; Released: February 2022
Executive Pool: 404
Companies: 88 - Players covered include Coromandel International Limited; EuroChem Group; Gujarat State Fertilizers & Chemicals Ltd.; Haifa Group; Hebei Monband Water Soluble Fertilizer Co., Ltd.; Israel Chemicals Limited (ICL); K+S Aktiengesellschaft; TRIBOdyn AG; Yara International ASA and Others.
Coverage: All major geographies and key segments
Segments: Application (Horticultural Crops, Field Crops, Turfs & Ornamentals, Other Applications); Type (Nitrogenous, Phosphatic, Potassic, Micronutrients)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Colombia; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Foliar Spray Market to Reach $7.8 Billion by 2026
Foliar feeding or foliar nutrition refers to the method of directly applying liquid fertilizer to the leaves as a way of feeding plants. Plants are capable of absorbing nutrients and the essential elements from the leaves through the bark or through the stomata, which are the microscopic openings located in the middle of a pair of guard cells, and epidermis. While transport through the stomata is usually faster, total absorption level is greater through the epidermis. Generally, foliar feeding is carried out early in the morning or during late evenings, preferably when the temperature is below 24°C as heat causes the closure of pores on the leaves of some species. A popular feeding method is the use of sea-based plant mixes, particularly kelp, which contains most of the 50 trace nutrients. Kelp contains some hormones that are considered beneficial for the development of the leaves, flowers, and also fruits, and is therefore preferred by organic growers who are wary of using artificial hormone applications.

When plants face conditions of unbalanced or limited availability of nutrient-providing media or sudden elemental deficiencies such as pH fluctuation, the traditional method of feeding plants through the roots might not result in faster nutritive repair. In such situations, there is a need for an alternative and faster acting method of providing the much-required nutrients to the plants. Spraying or foliar feeding, which is a method by which nutrient solution is directly applied to the leaves, is the best technique for achieving rapid absorption of nutrients into the plant. Foliar feeding has been scientifically proven to improve plant health as well as yields significantly through increased and faster absorption of essential elements. Foliar application was demonstrated to prevent leaching-out of the feed into the soil, thus prompting quick absorption by the plant. A mix of zinc, iron, and phosphorus in foliar application ensures greater benefit than direct addition to the soil, where phosphorus gets fixed into the soil and becomes inaccessible the plant, while iron and zinc are also made less available.

Amid the COVID-19 crisis, the global market for Foliar Spray is projected to reach US$7.8 Billion by 2026, registering a compounded annual growth rate (CAGR) of 5.4 % over the analysis period. Europe represents a major regional market for Foliar Spray and is projected to reach US$1.5 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.8% over the analysis period. Market growth is driven by their growing applications in field crops, horticultural crops, and turfs & ornamentals. The constant decline in arable land globally and increased pressure on growers to address the food needs of the world's expanding population are driving focus on to the development of more effective methods for applying fertilizers. Rapid growth of agricultural production, especially staples such as rice and wheat, and the subsequent rise in need for fertilizers to protect crops and promote growth are leading to growth in foliar sprays market. The significant growth of foliar spray market in various application sectors is mainly attributed to their ability to increase agricultural output and increasing awareness about the advantages of foliar nutrition. The easy to apply nature of foliar sprays and their ability to uniformly distribute nutrients onto crops is driving growth in the market. The market is also poised to benefit from the strong growth being witnessed in the industrial agriculture, which enhances need for uniform and efficient application of fertilizers to improve crop yield. Also fueling market growth is the rapidly rising demand for chemical-based plant booster in horticultural operations. Foliar sprays market is also poised to benefit by the agriculture industry's shift towards advanced farming techniques.

Europe represents the largest regional market for foliar spray worldwide. The region's large and well-established agricultural industry, steadily rising expenditure on agricultural activities and growing use of advanced farming techniques favor the foliar sprays market in Europe. Strict regulations related to the use of chemical fertilizers in Europe are also contributing to the growing importance of foliar sprays. Though bio-fertilizers are being used as alternatives to chemical fertilizers, their relative ineffective is driving focus onto foliar sprays that are known to be more effective and less harmful to environment when compared to conventional fertilizers. China and Asia-Pacific are poised to grow at a high rate through the analysis period. The vast population base, rising demand for food, and ever shrinking availability of agricultural land is spurring demand for fertilizers. The growing government efforts to promote agricultural activities, increase in R&D initiatives to develop new farming techniques are also leading to high adoption of foliar spray method of fertilizer application. In North America, with agriculture being one of the major industries, the fluctuating weather conditions, rising temperature levels, and other climate change phenomena are adversely impact crop production levels. In addition to climatic conditions, the agricultural output is also threatened due to the increasing risk of pest attacks. In this regard, foliar sprays are emerging as ideal options for farmers to increase amount of nutrients being provided to crops, thus enhancing overall agricultural production. More

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