The new report by Expert Market Research titled, ‘Global Foliar Spray Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global foliar spray market, assessing the market based on its segments like chemicals, product types, applications, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): Approximately USD 6.8 Billion
- Forecast CAGR (2022-2027): 5.50%
- Forecast Market Size (2027): Around USD 9.4 Billion
The foliar spray industry is being driven by the increasing demand for fruits and vegetables owing to the rising health-consciousness. The thriving food and beverage industry in emerging economies due to the rising population, the increasing disposable incomes, and the growing travel and tourism industry are likely to bolster the market. As foliar sprays are preferred by farmers due to their ability to bolster the health of the crop while providing minimal harm to the environment, they are extensively used in the agricultural sector, which is driving the industry growth. Moreover, the introduction of various stringent regulations by governments to curb the emissions of carbon dioxide and nitrous oxide is surging the demand for nitrogenous fertilisers, which is likely to boost the market for foliar spray in the forecast period.
Industry Definition and Major Segments
Foliar spray refers to a chemical that is sprayed on crops to boost their health by providing them with essential nutrients during various vegetative stages. It is a feeding technique in which liquid fertilisers are directly applied to the leaves of the crop. Foliar sprays are useful in enhancing the yield and quality of crops.
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The market, based on chemical, is divided into:
The significant product types of foliar spray included in the market are:
The major applications of foliar spray are:
- Horticulture Crops
- Agriculture Crops
- Orchard Crop
The regional markets for foliar spray include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growing adoption of unmanned aerial vehicles (UAVs) to efficiently carry out the feeding process through foliar spraying methods is likely to aid the market growth. With the increasing trend of veganism owing to the growing awareness about animal cruelty, the demand for foliar sprays is surging, which is likely to augment the market growth in the forecast period. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the increasing farming activities, rising population, and strong economic growth of countries in the continent, including India, China, and Japan, among others.
Key Market Players
The major players in the market are Andaman AG, Aries Agro Limited, Coromandel International Limited, Gujarat State Fertilizers & Chemicals Limited (GSFC), and Sichuan Shucan Chemical Co. Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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