Global Foliar Spray Market
Global Foliar Spray Market By Type, By Application, By Geographic Scope And Forecast To 2026
According to Verified Market Research, The Global Foliar Spray Market was valued at USD 5.73 Billion in 2018 and is projected to reach USD 8.20 Billion by 2026, growing at a CAGR of 4.66% from 2019 to 2026.
Foliar spraying is a technique of sustaining plants by applying liquid fertilizer directly to their leaves instead of placing it in the soil. Foliar splashing plants assimilate essential components through their leaves. The ingestion happens through their stomata and furthermore through their epidermis. Foliar Sprays market includes the chemical-based foliar sprays that are used by the horticulture industry, in order to grow more crops, plants, turf, and other related products. These foliar sprays are generally sprayed through leaves of the plant for supplying nutrients to the plants, so as to boost up its growth. The companies in this market use these chemicals based foliar sprays to grow more crops and to increase the profitability by supplying bulk quantity.
A decline in the arable land coupled with a growing population has raised the need for better methods for fertilizer application. Foliar sprays are useful during the high demand seasons, as the soil cannot supply complete nutrients for the growth of the plant, these are used to provide nutrients and high growth of plants to meet the customer demands. Another growth factor for this market is the increasing demand for chemical-based plant boosters, in the horticulture industry. This agriculture-based industry is growing significantly and requires to be available with their resources throughout the year. This increases the adoption of foliar sprays, as these help in providing nutrient supply when the soil is not rich and environmental conditions are not supporting.
However, with the usefulness, there are some challenges or restraints that are restricting this market from growth. The main factor is the increasing awareness and usage of organic fertilizers as these fertilizers do not harm the soil and help in the growth of a plant in an environmentally friendly manner. The companies prefer organic fertilizers because they are easily available and can be used in a large quantity. The consumers are demanding organic vegetables, fruits, and other products, due to which companies prefer using organic fertilizers. Another factor is government regulations. With the rising awareness of chemical harms, many governments have issued mandates need to be followed for the usage of chemicals in foliar sprays.
The Global Foliar Spray market is studied on the basis of key geographies North America, Europe, Asia Pacific and Rest of the World (RoW). North America dominated the Global Foliar Spray Market in 2018, with the US market accounting for the majority of the market in this region in 2018, which is expected to continue over the forecast period. The Asia Pacific, which is dominated by countries such as China, Japan, and India, is anticipated to grow at the highest CAGR during the forecast period.
Agriculture is one of the major industries in North America. Increasing temperatures, sea levels, precipitation, fluctuating weather events, rising damage due to pests and other bacteria affect crop production. Foliar Sprays help the farmers to provide nutrients to the soil and enhance agriculture production. The US and Canada are the major users of fertilizers in this region. As the lands are acidic in North America, the use of nitrogen fertilizers helps in sustaining the pH level of the soil. This increases the demand for nitrogen fertilizer in this region.
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