Foliar Fertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Foliar Fertilizer Market is Segmented by Nutrient (Macronutrients and Micronutrients), Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Turf and Ornamentals), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market estimation and forecast in value (USD million) for the abovementioned segments.

Market Snapshot

foliar fertilizer market
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: 6.5 %

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Market Overview

The foliar fertilizer market is projected to witness a CAGR of 6.5% during the forecast period 2022-2027. The COVID-19 pandemic affected all the processes that connect farm production to the final consumer. Moreover, it impacted the food production system and food value chain. Farmers were facing a shortage of agricultural inputs like seeds, fertilizers, and pesticides. The major companies have improved their investments for the development of their business to retain their share in the market by adopting new technologies and techniques in order to bring efficiency to their operations.

Foliar fertilizers are fueled by benefits such as their ease of use and application. Furthermore, the global market is predicted to develop due to the adoption of precision farming and protected agriculture and an increase in demand for soil micronutrients in agricultural production.

The government's initiative to provide effective foliar fertilizer training programs is also predicted to support the market's growth. Furthermore, the government's fertilizer subsidy programs enhanced the use of foliar fertilizer. However, challenges such as a lack of awareness among farmers and the high cost of fertilizers are limiting the expansion of the foliar fertilizers market.

The major factors driving the foliar fertilizer market are the increasing number of indoor farms, decreasing arable land, and the immediate effect on the plant on foliar application of fertilizers. For instance, in 2017, a startup vertical farm named Urban Kissan was set up in India. Japan has one of the largest vertical farming capacities globally, with 25,000 sq. ft. in 12 different locations, with a production capacity of 10,000 lettuce heads per day. Therefore, due to the growing demand and the active participation of key players, the foliar fertilizer market is expected to grow during the forecast period.

Scope of the Report

Fertilizer is any solid, liquid, or gaseous substance containing one or more plant nutrients of a known amount that is applied to soil, directly on plants, or added to aqueous solutions (as in fertigation) to maintain soil fertility, improve crop development, yield, and/or crop quality. A foliar application means that one is feeding plants by applying liquid fertilizer directly to the leaves as opposed to through the soil. The global foliar fertilizer market is segmented by nutrient (macronutrients and micronutrients), application (grains and cereals, pulses and oilseeds, fruits and vegetables, and turf and ornamentals), and geography (North America, Europe, Asia-Pacific, South America, and Africa).

Nutrient Type
Macronutrients
Nitrogen
Phosphorus
Potassium
Micronutrients
Application
Cereals and Grains
Pulses and Oilseeds
Fruits and Vegetables
Turf and Ornamentals
Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
South America
Argentina
Brazil
Rest of South America
Africa
South Africa
Rest of Africa

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Key Market Trends

High Nutrient Deficiency in Soil and the Need for Enhancing the Crop Yield

Micronutrients promote the strong, steady growth of crops that produce higher yields and increase harvest quality, thus, maximizing a plant's genetic potential. In particular, their presence can have a great impact on root development, fruit setting and grain filling, seed viability, and plant vigor and health. Micronutrient deficiency is widespread across the world, with iron and zinc deficiencies becoming a rising concern for plant health.

Soil deficiencies of the micronutrients essential for plant growth can lead to lower crop yields. Studies conducted on some field crops in Egypt in 2017 indicated that the foliar application of micronutrients in mineral or chelated forms was more effective than soil application, except in some special cases, such as the application of zinc sulfate or zinc oxide on rice. Such studies are further driving awareness among crops growers, that in turn, is stimulating market growth.

Further, various major players active in the market are involved in R&D and are bringing out new and improved micronutrient products in the market. For instance, in 2018, BRANDT, a leading manufacturer of specialty products for the agriculture sector, launched new micronutrient formulations, namely, Brandt Smart Quatro Plus high efficiency foliar 5-0-0 with zinc, manganese, boron, and sulfur, and Brandt Smart Mn Plus high-efficiency foliar manganese, compatible for use with dicamba and 2,4-D herbicides. As farmers aim to get more out of every planted hectare, the popularity of foliar fertilizers in the production of crops has increased rapidly in the recent past and is anticipated to drive the market in the forecast period.

Foliar Fertilizer Market

Asia-Pacific Dominating the Market

Asia-Pacific currently dominates the market. Recent studies have indicated that zinc deficiency is the most widespread micronutrient deficiency in China. More than 50% of arable soils are low in zinc, limiting agricultural growth and improvement in human nutrition.​ Hence, the foliar application of zinc has a potential market in the country to improve the zinc content of food crops.

Foliar application of fertilizers has long been practiced in many crops, particularly in cereal and horticulture crops, in the country. In China, farmers extensively apply zinc and iron to paddy fields to enhance crop yields. Further, the foliar application of micronutrients is also widely practiced for fruits and vegetables in China to improve the quality of the crop. In addition to that, the growing demand for essential food products such as fruits and vegetables is expected to propel the growth of the Australian foliar fertilizers market during the forecast period. Further, the adoption of precision farming and protected agriculture and a rise in demand for soil micronutrients in agricultural yield is anticipated to boost the demand for foliar fertilizers in the country. According to the Thai Rice Exporters Association, positive export growth was witnessed only in white rice among all rice varieties in Thailand as the country exports a higher volume of white rice year on year. Since October 2019, the government has been providing support to farmers with USD 82 for white rice farmers and USD 26 per ton for Pahtumthani fragrant rice as part of the Price Guarantee Program. This is anticipated to boost rice production in the country and the subsequent demand for foliar fertilizers during the forecast period.

foliar fertilizers

Competitive Landscape

The global foliar fertilizer market is consolidated, with Yara International ASA, Haifa Group, ICL Specialty Fertilizers, Stoller Europe SLU, and JR Simplot Company being the major players and together accounting for the major market share. These major players are investing in new products and improvisation of products, expansions, and acquisitions for business expansions. Another major area of investment is the focus on R&D to launch new products at lower prices.

Recent Developments

In 2021, ICL acquired Compass Minerals América do Sul SA, which includes the South American Plant Nutrition business of Compass Minerals, for approximately USD 420 million. Its product portfolio includes enhanced efficiency fertilizers and controlled-release fertilizers, soil, and foliar micronutrients, among other categories.

In 2020, Nutrien Ltd acquired Tec Agro Group (Tec Agro), a leading agricultural retailer in the state of Goiás, with close to 25 years of service to farmers and eight retail branches. With the acquisition, Nutrien now owns a premier soybean seed business and the Agrichem business, which produces specialties and foliar fertilizers in Brazil.

In June 2019, Yara North America launched YaraVita OptimumTurf, a foliar nutrition line specifically designed for the turf and ornamental industry. YaraVita OptimumTurf includes eight products that each deliver a specific nutrient or nutrient mix for efficiently sustaining turfgrass and plant health, thus, boosting performance, durability, and aesthetics.

In March 2019, AmegA Sciences USA launched its six new foliar nutrition products with excellent performance and unparalleled value.

In 2018, Yara Brasil Fertilizantes SA opened a new fertilizer plant in Brazil that produces foliar fertilizers for crops, including soybeans and corn. The new unit is in São Paulo state near the port of Santos.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Nutrient Type

      1. 5.1.1 Macronutrients

        1. 5.1.1.1 Nitrogen

        2. 5.1.1.2 Phosphorus

        3. 5.1.1.3 Potassium

      2. 5.1.2 Micronutrients

    2. 5.2 Application

      1. 5.2.1 Cereals and Grains

      2. 5.2.2 Pulses and Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Turf and Ornamentals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Argentina

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Yara International ASA

      2. 6.3.2 Haifa Group

      3. 6.3.3 ICL Specialty Fertilizers

      4. 6.3.4 Stroller Europe SLU

      5. 6.3.5 JR Simplot Company

      6. 6.3.6 AgroLiquid

      7. 6.3.7 SprayGro

      8. 6.3.8 AgNova Technologies Pty Ltd

      9. 6.3.9 Nakashima Co. Ltd

      10. 6.3.10 Arysta Lifescience South Africa

      11. 6.3.11 Amega Sciences USA

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

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Frequently Asked Questions

The Foliar Fertilizer Market market is studied from 2017 - 2027.

The Foliar Fertilizer Market is growing at a CAGR of 6.5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

Yara North America, Haifa Group., ICL Specialty Fertilizers, STOLLER EUROPE SLU, J.R. Simplot Company are the major companies operating in Foliar Fertilizer Market.

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