Secondary Macronutrients Market

The growing need for increasing crop production to drive market growth

The increasing secondary micronutrient deficiency in soil and the growing area under cultivation for high-value crops drive market CAGR. Secondary macronutrient shortage causes leaf yellowing, slowed development, and decreased crop output. Secondary macronutrients are given to crops and soil to provide vital minerals, sustaining crop and soil health. Intensive farming practices, such as monoculture and excessive fertilizer use, can deplete the soil, reducing the availability of secondary nutrients. As a result, there is a greater demand for supplemental secondary nutrient fertilizers. There is a growing demand for high-quality, nutrient-dense crops as people become more health-conscious.

Secondary nutrients are vital to modern agriculture because they are important in crop development and quality.

Consumption of animal products rises as more people reach the middle class, driving rising demand for grains and other crops used to feed the animals. As more people relocate to cities, the amount of arable land available for farming decreases, increasing agricultural production on existing farmland. Increased agricultural land productivity and research into novel food production methods, such as vertical farming and urban agriculture, are required to meet the needs of the urban population. The most effective utilization of secondary nutrients can greatly increase the productivity of currently employed agricultural land while supporting sustainable and innovative food production methods.

These are key factors propelling the growth of secondary macronutrient market revenue.

The Global Secondary Macronutrients Market Industry is experiencing a notable increase in demand driven by the shift towards sustainable agricultural practices. Farmers are increasingly adopting environmentally friendly fertilizers that enhance soil health and crop yield. This trend is supported by government initiatives promoting organic farming and sustainable practices. As a result, the market is projected to reach 34.2 USD Billion in 2024, reflecting a growing awareness of the environmental impact of traditional farming methods. The emphasis on sustainability is likely to propel the adoption of secondary macronutrients, which play a crucial role in maintaining soil fertility and crop productivity.

The increasing global population is exerting pressure on food production systems, thereby driving the Global Secondary Macronutrients Market Industry. As the demand for food rises, there is a corresponding need for enhanced agricultural productivity. Secondary macronutrients are critical in achieving higher yields and improving crop resilience to environmental stresses. This trend is particularly relevant in regions facing food insecurity, where effective nutrient management can lead to significant improvements in crop output. The market's growth trajectory is likely to align with global efforts to ensure food security, emphasizing the role of secondary macronutrients in sustainable agriculture.

Government policies and regulatory frameworks are playing a pivotal role in the growth of the Global Secondary Macronutrients Market Industry. Many countries are implementing regulations that encourage the use of secondary macronutrients to improve soil health and agricultural output. Subsidies and financial incentives for farmers adopting these nutrients are becoming more common, fostering a favorable environment for market expansion. As a result, the market is expected to witness substantial growth, potentially reaching 59.4 USD Billion by 2035. This support underscores the importance of secondary macronutrients in achieving food security and sustainable agricultural practices.

There is a growing recognition of the importance of secondary macronutrients in addressing nutrient deficiencies in crops, which is shaping the Global Secondary Macronutrients Market Industry. Farmers and agronomists are becoming more aware of how deficiencies in elements such as calcium, magnesium, and sulfur can adversely affect crop health and yield. This awareness is leading to increased application of secondary macronutrients, as they are essential for various physiological processes in plants. The market's expansion is likely to be fueled by educational initiatives and research highlighting the benefits of these nutrients, thereby enhancing overall agricultural productivity.

Innovations in fertilizer production technology are significantly influencing the Global Secondary Macronutrients Market Industry. Advanced manufacturing processes, such as precision agriculture and smart fertilizers, are enhancing the efficiency of nutrient delivery to crops. These technologies allow for targeted application, reducing waste and improving crop yields. As the market evolves, it is anticipated that these advancements will contribute to a compound annual growth rate of 5.15% from 2025 to 2035. This growth is indicative of the industry's adaptation to modern agricultural challenges, ensuring that farmers have access to effective and efficient nutrient solutions.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American secondary macronutrient market accounted for USD 13.96 billion in 2022 and will likely exhibit a significant CAGR growth in the study period. Farmers in the region are becoming more aware of the importance of secondary macronutrients like calcium, magnesium, and sulfur for optimizing crop yields and quality. The rising focus on soil health and nutrient management and regional government initiatives promoting balanced fertilization contribute to the growing demand for secondary macronutrient products.

Further, the major countries studied in the market report are The US, Canada, German, the UK, Italy, Spain, France, China, Japan, Australia, South Korea, India, and Brazil.

Figure 2: SECONDARY MACRONUTRIENTS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe secondary macronutrients market accounts for the second-largest market share. European farmers actively seek innovative solutions to enhance crop nutrition and mitigate nutrient loss. Additionally, the regional regulatory support for environmentally friendly agricultural practices fosters the demand for secondary macronutrients through organic and eco-friendly farming approaches. Further, the German secondary macronutrient market held the largest market share, and the UK secondary macronutrient market was the fastest-growing market in the European region.

The Asia-Pacific Secondary Macronutrients Market is expected to grow at the fastest CAGR from 2023 to 2032. As countries in Asia Pacific experience economic growth and urbanization, the demand for high-quality agricultural products rises, necessitating enhanced crop productivity and sustainability. Growing awareness of nutrient deficiencies and the benefits of secondary macronutrient-based fertilizers drives regional market growth. Moreover, China’s secondary macronutrient market held the largest market share, and the Indian secondary macronutrient market was the fastest-growing market in the Asia-Pacific region.

Leading market players significantly invest in research & development to innovate and expand their product offerings. These investments aim to develop advanced secondary macronutrient formulations that cater to specific crop requirements, improve nutrient absorption, and enhance overall crop health. Secondary macronutrient industry participants actively undertake strategic activities to expand their market presence and strengthen their position. Key market developments include new product launches with improved nutrient compositions and convenient application methods and entering into contractual agreements with distribution partners and agricultural cooperatives to broaden their reach.

Mergers and acquisitions are also rising in the secondary macronutrient industry. Major players are acquiring specialized companies to access innovative technologies, consolidate their market share, and expand their product portfolios. These strategic moves position them as comprehensive solution providers, enabling farmers to source all their secondary macronutrient needs from a single supplier. In recent years, the secondary macronutrient industry has offered some of the most significant advantages that address specific nutritional requirements and improve soil health and performance.

Major players in the secondary macronutrients market, including Nutrien Ltd (Canada), Yara International ASA (Norway), The Mosaic Company (US), Israel Chemicals Ltd (Israel), SPIC (India), Koch Industries INC (US), Coromandel International Ltd (India), Haifa Negev Technologies LTD (Israel), Kugler Company (US), IFFCO (India), Western Nutrients Corporation (US), Arise Agro Limited (India), are striving to boost market demand by increasing their R&D efforts, expanding their product portfolios, and adopting sustainable practices.

Yara International ASA, headquartered in Oslo, Norway, is a leader in crop nutrition and environmental solutions. Founded in 1905 as Norsk Hydro and later demerged in 2004, the company offers a diverse portfolio of fertilizers, crop nutrition solutions, and industrial products, including nitrogen-based, phosphate-based, and compound fertilizers, as well as specialty fertilizers and industrial chemicals. Yara operates in over 60 countries and serves farmers worldwide through an extensive distribution network. In March 2021, Yara International revealed its plans to expand its portfolio of secondary macronutrient products.

The company announced the development of innovative micronutrient-enhanced fertilizers, which are expected to improve crop yields and nutrient use efficiency.

Nutrien Ltd is a fertilizer manufacturing firm that develops and supplies fertilizers such as nitrogen, potash, phosphate, and ammonium sulfate. It also offers crop protection and fertilizer products, goods, seed solutions, and digital tools to crop growers. It provides retail services like field advising, crop consulting, and agronomic solutions. Nutrien sells its goods to industrial and agricultural customers worldwide. The corporation operates in Canada, the United States, Australia, Brazil, Trinidad & Tobago, Argentina, India, China, and other Latin American and Asian countries. Nutrien's headquarters are in Saskatoon, Saskatchewan, Canada.

In November 2020, Nutrien introduced a new line of premium secondary macronutrient products enriched with essential trace elements. These products address specific nutrient deficiencies in different soil types, enhancing overall crop health and quality.