Market Size of Foliar Spray Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Foliar Spray Market Analysis
The Global Foliar Spray Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
Foliar sprays are nutrients that are sprayed to plants in their vegetative and generative (flowering, fruit setting, and maturity) stages. COVID-19 has affected the maturity and harvest of crops. Due to lockdown regulations and stay-at-home orders, a majority of farmers are scared to come out of their homes. Shortages of agricultural laborers have added to their woes. The lockdown has dealt a blow to the agricultural sector at a time when crops, like paddy, maize, red jowar, chilies, tomato, and horticulture products, like banana, watermelon, musk melon, sweet lime, grapes, pomegranate, and papaya, are ready to be harvested. Owing to all the above factors, the consumption and demand in the foliar spray market are decreased.
- Over the medium term, the major factor driving the market studied is a growing demand for foliar sprays from horticulture crops.
- On the flip side, the growing demand for organic fertilizers in agriculture coupled with unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- The Asia-Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries such as China, India, and Japan.
