The global foliar spray market will grow from USD 7.3 billion in 2023 to USD 9.6 billion by 2028, growing at a CAGR of 5.5% during the forecast period. Foliar spray is becoming increasingly popular in the agricultural industry due to its numerous advantages over traditional soil-based fertilization methods. One of the main drivers of the foliar spray market growth is the increasing demand for food due to the rising global population. The foliar spray technique is a highly effective way to increase crop yields, as it allows for the precise application of nutrients and pesticides directly to the plant’s leaves. In addition to its effectiveness, foliar spray is also more environmentally friendly than traditional soil-based fertilization methods. Because it allows for more precise application of nutrients and pesticides, there is less waste and runoff, which reduces the risk of pollution and environmental damage.
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The Micronutrients foliar sprays segment is driving the market due to advancements in agriculture industry.
The foliar spray of micronutrients either as individual, specific compounds or in combination with other micronutrients is widely employed. A foliar treatment is efficient than a soil application at improving plant internal processes, cell homeostasis, water relations, productivity under abiotic challenges and it provides nutrients directly to the leaves where they are easily absorbed. Consumers are increasingly demanding high-quality and nutritious crops, which has led to a rise in the use of foliar sprays. These sprays help in improving the quality of the crops by providing essential micronutrients. Farmers are becoming more aware of the importance of micronutrients for plant growth and are using foliar sprays to provide these nutrients to their crops. Manufacturers are investing in research and development to develop advanced foliar spray formulations that provide better nutrient uptake and absorption by plants. These advancements are driving the growth of the market.
The liquid foliar sprays segment is driving the market in the foliar spray in 2023
Liquid foliar sprays are typically made up of a mixture of water and nutrients, such as nitrogen, phosphorus, and potassium, along with micronutrients like iron, manganese, and zinc. These nutrients are dissolved in water and sprayed directly onto the leaves of plants, where they are absorbed and utilized by the plant. They provide plants with a quick boost of nutrients when they are needed most, such as during periods of rapid growth or when plants are experiencing stress. Liquid foliar sprays are also beneficial because they bypass soil-related issues that may limit nutrient uptake in the plant’s roots. Additionally, liquid foliar sprays improve the overall health of plants by providing them with a more balanced and complete nutrient profile. Liquid foliar sprays are a valuable tool for growers and gardeners looking to support the growth and health of their plants. By providing a quick and easy way to deliver nutrients directly to the leaves of plants, liquid foliar sprays help plants to thrive and reach their full potential.
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North America region is witnessing the growth in the foliar spray market due to increasing demand for high-value crops.
The demand for high-value crops such as fruits, vegetables, and ornamental plants is increasing in North America, which has led to the adoption of advanced farming techniques such as foliar spraying. Foliar sprays help improve the yield and quality of these crops, leading to higher profits for farmers. As more farmers learn about the benefits of foliar spraying, the demand for these products is increasing. Foliar sprays help improve crop health, increase yields, and reduce the need for other inputs such as fertilizers and pesticides. As a result, more farmers are adopting foliar spraying as part of their overall crop management strategy. Precision agriculture is an approach to farming that uses technology such as GPS and sensors to optimize crop production. Foliar spraying is an important part of precision agriculture, as it allows farmers to target specific areas of their fields with the nutrients or pesticides they need. As precision agriculture becomes more widespread, the demand for foliar sprays is increasing. Overall, the foliar spray market in North America is growing due to the increasing demand for high-value crops, the adoption of precision agriculture practices, the development of innovative formulations, the increasing demand for organic food, and favorable government policies.
The key players in foliar spray market include Eurochem Group (Switzerland), Nutrien Ltd. (Canada), Yara (Norway), Israel Chemical Limited (Israel), Coromandel International Limited (India) and The Mosaic Company (US).
