“The secondary macronutrients market is projected to grow at a CAGR of 3.76%.”
The secondary macronutrients market is projected to reach USD 37.12 billion by 2022 from USD 30.86 billion in 2017, at a CAGR of 3.76%. The market is driven by the increasing deficiency of secondary macronutrients in the soil and the growth in demand for high-value crops such as fruits & vegetables.
Increase in the prevalence of counterfeit products is one of the major restraints in the growth of the secondary macronutrients market.
“Liquid application segment is projected to boost the growth of secondary macronutrients through 2022.”
Based on application method, the liquid application segment is projected to grow at a higher rate during the forecast period. This is attributed to the large-scale use of the fertigation method for ensuring the application of the correct amounts of macronutrients homogeneously to the wetted root volume zone where most of the active roots are concentrated. Also, fertigation, a sub-category of the liquid application, is increasingly gaining importance due to its reliability and efficacy.
“The calcium segment is estimated to be the largest market in 2017.”
The calcium segment is estimated to account for the largest share in the secondary macronutrients market in 2017. Globally, calcium is required in large amounts for crops such as fruits & vegetables; it also helps in the formation of cell walls and cell membranes. In addition, the deficiency of calcium affects the shelf life and texture of fruits & vegetables.
“Asia Pacific is estimated to be the largest market in 2017.”
Asia Pacific is estimated to be the largest secondary macronutrients market in 2017. The increasing population of this region creates an exponential demand for food. The slow progress in agriculture industrialization and better farm management practices has led to the rise in the consumption of secondary macronutrients in this region.
The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:
By Company Type: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
By Designation: C-Level – 15%, Directors – 30%, and Others* – 55%
By Region: Americas – 20%, Europe – 20%, Asia Pacific – 45%, and RoW – 15%
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1: Revenue > USD 1 billion; Tier 2: Revenue USD 500 million–< USD 1 billion; Tier 3: Revenue < USD 500 million
The global market for secondary macronutrients is dominated by large players such as Nutrien (Canada), Yara International (Norway), The Mosaic Company (US), Israel Chemicals Ltd. (Israel), and K+S (Germany). Some of the emerging players in the secondary macronutrients market include Nufarm (Australia), Koch Industries (US), Coromandel International (Italy), Deepak Fertilisers and Petrochemicals (India), Haifa Chemicals (Israel), Sapec Agro Business (Portugal), and Kugler Company (US).
The report analyzes the secondary macronutrients market across different types and regions. It aims at estimating the market size, in terms of value and volume, and future growth potential of this market across different segments—nutrient, formulation, application method, crop type, and region. Furthermore, the report also includes in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall secondary macronutrients market and the subsegments. This report will help stakeholders to understand the competitor landscape better, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report will also help the stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.