Global Secondary Macronutrients (Calcium, Magnesium, and Sulfur) Industry Research 2024: Rising Investments in Agricultural Enterprises from Emerging Economies Presents Burgeoning Opportunities

DUBLIN , March 4, 2024 /PRNewswire/ — The “Secondary Macronutrients Market by Nutrient (Calcium, Magnesium, and Sulfur), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables), Mode of Application (Solid and Liquid), Form and Region – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

The secondary macronutrients market is expected to be valued USD 38.6 billion in 2022 and USD 48.5 billion by 2028, with a CAGR of 4.0%

The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the secondary macronutrient market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions; key strategies; partnerships, agreements; new product launches, mergers and acquisitions, and recent developments associated with the secondary macronutrient market. Competitive analysis of upcoming startups in the secondary macronutrient market ecosystem is covered in this report.

An increase in the consumption of fruits & vegetables and the growing awareness about the soil and environment propel the secondary macronutrients market. The South American secondary macronutrients market is projected to account for USD 10.49 billion by 2028, growing at a CAGR of 4.5% during the forecast period.

Eminent players operating in the secondary macronutrients market include Nutrien Ltd. (Canada), Yara (Norway), The Mosaic Company (US), Israel Chemicals Limited (Israel), and K+S Aktiengesellschaft (Germany), amongst others.

Sulfur is the second largest segment which is expected to gain the second largest market share in 2022

Sulfur is an essential nutrient for plant growth and development and plays a key role in crop production. It is part of several important plant compounds, including amino acids, proteins and enzymes. It also help to improve overall plant health and vigor. It is necessary for the formation of chlorophyll, which is necessary for photosynthesis. Sulfur is important for the uptake of other important plant nutrients such as nitrogen, phosphorus and potassium. This helps improve the efficiency of nutrient uptake and utilization, which can increase performance.

The fruits and vegetables segment is the second largest, projected to account for the largest market share in 2022

The main factors driving the use of secondary macronutrients in major fruit and vegetable production and export regions are increased fruit production, good quality fruit, and lower production costs. Increase in production of fruits such as strawberries, apples, grapes, pomegranates, oranges, chilies, peppers, tomatoes, and chilies, among others. The expansion of world trade has increased the availability of fruits and vegetables from various parts of the world, making them even more accessible to consumers, which will further boost the market.

The dry form segment is forecasted to occupy the largest market share in 2022

Dry forms of secondary macronutrients are easy to handle and transport, making them a convenient choice for farmers. Dry forms of secondary macronutrients are usually less expensive than their liquid counterparts. This cost-effectiveness is particularly beneficial to farmers who require large quantities of these nutrients. Dry conditions of secondary macronutrients have a longer shelf life than liquid forms. This means they can be stored for longer periods of time without the risk of spoilage, making them a reliable choice for farmers who need to ensure a constant supply of food.

Asia Pacific market is projected to gain the largest market share during the forecast period

The Asia Pacific market is the largest market for secondary macronutrients. This is due to the higher production of fruits and vegetables in the region. In the Asia-Pacific region, wheat, barley, corn, tomatoes, grapes, seeds, and stone fruits grow the most. These crops are also exported in large quantities to different parts of the world.

Food security is an important goal for many countries in the Asia-Pacific region, and the use of fertilizers containing secondary macronutrients can play a role in achieving this goal by increasing yield and improving the nutritional value of crops. Farmers in Asia and the Pacific are increasingly adopting crop rotation practices that can help improve soil health and nutrient availability. Using fertilizers containing secondary macronutrients can complement these practices and support crop production. This has led to increased utilization of the secondary macronutrient market and stimulated the growth of the secondary macronutrient market in the region.

Premium Insights

Asia-Pacific to Account for Largest Market Share During Forecast PeriodRussia and Cereals & Grains Accounted for Largest Shares in 2022Calcium to Dominate Market During Forecast PeriodCereals & Grains to Dominate Market During Forecast PeriodLiquid Application to Account for Largest Market Share During Forecast PeriodDry Form to Dominate Market During Forecast PeriodAsia-Pacific and Calcium to Dominate During Forecast Period

Case Studies

Nutrien Ltd. Launched Map+Mst Homogenous FertilizerIntroduction of Crf Coating by Israel Chemicals Limited

Market Dynamics

Drivers

Need to Increase Crop ProductionIncreased Demand for High-Value Crops Like Fruits & VegetablesSoil Degradation and Deficiencies due to Absence of Secondary NutrientsAdvancements in Agricultural Research and TechnologyCrop Quality and Market Demand

Restraints

Price Volatility and Fluctuations in Global MarketRising Instances of Counterfeit Goods

Opportunities

Precision Agriculture for Nutrient Control on Site-By-Site BasisRising Investments in Agricultural Enterprises from Emerging EconomiesIntegrated Nutrient Management (Inm)

Challenges

Utilization of Agricultural Biologicals in FarmingLack of Regulatory Standards

Industry Trends

Value Chain Analysis

Research and Product DevelopmentSourcingManufacturingSales & DistributionEnd ConsumersSupply Chain AnalysisProminent CompaniesSmall and Medium Enterprises (Smes)End-Users

Key Influencers

Technology AnalysisNanofertilizersPrecision Fertilization of Secondary Macronutrients

Price Trend Analysis

Average Selling Price, by NutrientSupply-Side AnalysisDemand-Side AnalysisTrade Analysis

Company Profiles

Key Players

Nutrien Ltd.YaraThe Mosaic CompanyIsrael Chemicals Ltd.K+S AktiengesellschaftNufarmSpicKoch Industries, Inc.Coromandel International LtdDeepak Fertilisers and Petrochemicals Corporation Ltd.Haifa Negev Technologies LtdKugler CompanyIffcoWestern Nutrients CorporationAries Agro LimitedOther PlayersBms Micro-NutrientsBaicor, LLCPlant Food Company, Inc.AgroliquidTerralink Horticulture Inc.Stoller EnterprisesNachursMorral Companies LLCAditya MicrodynamicsMythreyi Agri Inputs

For more information about this report visit https://www.researchandmarkets.com/r/81rry9

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