Foliar Spray Market Size to grow by USD 3010 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Foliar Spray Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The global fertilizers and agricultural chemicals market encompasses businesses engaged in the production of fertilizers and agricultural chemicals, as well as related components. This sector comprises agricultural pesticides, such as insecticides, herbicides, fungicides, nematicides, and fertilizers, including nitrogenous, phosphatic, potassic, and biofertilizers. According to Technavio's market analysis, the market size is determined by the revenues generated from the sales of various types of fertilizers and agricultural chemicals. Key growth drivers for this market include the increasing number of new product launches by market participants, as they continue to expand their offerings to meet evolving agricultural demands. - The Foliar Spray Market is experiencing significant growth, fueled by the Increasing efficiency of foliar spray products. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Increasing efficiency of foliar spray products
  • Increasing demand from emerging markets
  • Stringent regulations on handling, storage, and transportation of liquid fertilizers
  • Volatility in raw material prices
• Growth Projections

The market size is estimated to grow by USD 3010 million, at a CAGR of 7.44% during the forecast period. The global consumption of fruits and vegetables has witnessed significant growth due to the expanding vegetarian and vegan population and shifting food preferences. In nations like India, where a substantial portion of the populace follows a vegetarian diet, the demand for these produce types is robust. Conversely, in countries such as the United States, Canada, and the United Kingdom, the uptick in veganism adoption is driving the demand for fruits and vegetables. The millennial demographic in these countries is particularly influential, as ethical concerns regarding animal cruelty fuel their preference for vegetarian or vegan diets. Consequently, the foliar spray market, which caters to the protection and enhancement of these crops, experiences increased demand.

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• Regional Insights

The Foliar Spray Market represents a significant business opportunity for agrochemical companies, as this application method ensures efficient nutrient uptake and disease control in crops. Foliar sprays offer flexibility in terms of active ingredients and application timing, making them an essential component of modern agricultural practices. Market growth is driven by increasing demand for high-yielding and disease-resistant crops, as well as the adoption of precision farming techniques.

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