ID: MRFR/AGR/6607-HCR | 90 Pages | Author: Snehal Singh | June 2023
Secondary Macronutrients Market Overview
Agricultural methods have evolved dramatically in recent years. Consumer demands for superior food products are increasing in popularity. The increased use of fertilizers depletes the soil of macronutrients, as the bulk of fertilizers are deficient in macronutrients. Macronutrients are necessary for the growth and development of plants. Macronutrients are great for maintaining soil pH, which enables plants to receive all available nutrients. Additionally, moderate amounts of secondary nutrients are necessary; these minerals include calcium, magnesium, and sulfur, which are less likely to inhibit crop growth.
Growing demand for high-value crops, combined with rising demand for fruits and vegetables, is likely to be a prominent factor driving the worldwide secondary macronutrients market over the forecast period. Another important problem is the depletion of arable land; secondary macronutrients assist mitigate the impact of nutrient deficit in crop production, hence increasing crop output; this factor is projected to fuel expansion in the market over the forecast period.
While the agricultural revolution and industrialization have improved food production in recent years, there is still a significant gap between food supply and demand. Commercial fertilizers have increased the availability of certain nutrients such as nitrogen, phosphorus, and potassium in the soil while decreasing the availability of others such as calcium, phosphorous, and sulfur. However, demand for high-value crops such as wheat, maize, and others is increasing, as these crops require all required nutrients to develop properly.
The secondary macronutrients market has been segmented based on nutrient, form, mode of application, crop type, and region.
The global secondary macronutrients industry has been classified, based on nutrient, as calcium, magnesium, and sulfur.
The global secondary macronutrients industry has been bifurcated, on the basis of form, into liquid and dry.
On the basis of mode of application, the global secondary macronutrients industry has been divided into broadcasting, fertigation, foliar, and others.
Based on crop type, the global market has been categorized as cereals and pulses, oilseeds and pulses, fruits and vegetables, and others.
The global secondary macronutrients industry has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American secondary macronutrients industry has further been segmented into the US, Canada, and Mexico.
The European secondary macronutrients industry has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
The secondary macronutrients industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific.
The secondary macronutrients industry, in the rest of the world, has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Secondary Macronutrients Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
The market in Asia-Pacific is expected to dominate the global secondary macronutrients industry and register the highest CAGR the during the forecast period as a large section of the population in this region is engaged in agriculture due to favorable climate conditions. Moreover, the need to increase agricultural food yield per unit of land to meet the growing demand for food for the rapidly increasing population in countries like India and China is expected to drive the growth of the secondary macronutrients industry in this region.
The market in the rest of the world is expected to gain a significant share as the South American countries are expected to increase their agricultural activities.
Mach 2022: OCP Group of Morocco and Koch Ag & Energy Solutions (Koch), a world leader in secondary macronutrients, signed a deal under which Koch would purchase a 50% ownership in Jorf Fertilizers Company III (JFC III) from OCP Group, a global leader in the phosphate and fertilizer industries.
Global Secondary Macronutrients Market, by Nutrient
Global Secondary Macronutrients Market, by Form
Global Secondary Macronutrients Market, by Mode of Application
Global Secondary Macronutrients Market, by Crop Type
Global Secondary Macronutrients Market, by Region
secondary macronutrients market is projected to grow at approximately 5.9% CAGR during the assessment period (2020-2030).
secondary macronutrients market is estimated to reach a valuation of approx. USD 43.45 BN by the end of 2030.
Fertigation is the largest application segment in the global secondary macronutrients market.
Asia Pacific holds the largest share in the global secondary macronutrients market, followed by North America and Europe, respectively.
Deepak Fertilizers and Petrochemicals Corporation Limited (India), Calcium Products, Inc. (US), Van Iperen International B.V. (Netherlands), Coromandel International Limited (India), Koch AG & Energy Solutions, LLC (US), Yara International ASA (Norway), Impact Fertilizer (Austrailia), U.S. AG LLC (US), Hafia Groups (Israel), Kugler Company (US), Sapec Agro S.A. (Portugal), Nutrien Ltd. (Canada), Israel Chemicals Limited (Israel), Agriculture Solutions Inc. (Canada), and Evergrow (Egypt), are some of the top players operating in the global secondary macronutrients market.
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