Global Secondary Macronutrients Market: Steady Growth Projected At 4.0% CAGR By 2028

(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The global secondary macronutrients market size is projected to grow to $48.5 billion by 2028, reflecting a compound annual growth rate (CAGR) of 4.0% during the forecast period [2023-2028]. This growth is driven by increasing secondary macronutrient deficiencies in soils and the expansion of cultivated areas for high-value crops.

Key Market Drivers

• Soil and Crop Health: Deficiencies in secondary macronutrients, such as calcium, magnesium, and sulfur, can lead to issues like yellowing leaves, stunted plant growth, and reduced crop yields. To combat these challenges, secondary macronutrients are applied to maintain crop and soil health.
  
• Intensive Farming Practices: Modern agricultural techniques, including monoculture and the excessive use of fertilizers, have led to soil nutrient depletion. This has increased the demand for supplementary secondary nutrient fertilizers.
  
• Rising Demand for High-Quality Crops: As consumers become more health-conscious, there is a growing demand for nutrient-dense, high-quality crops . Secondary macronutrients play a critical role in ensuring the development and quality of these crops.

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Market Opportunities

Precision Agriculture for Site-Specific Nutrient Management: Precision agriculture employs technology-based techniques to manage crops on a site-specific basis. This approach uses specialized equipment to maintain water and nutrients in the root zone efficiently. Precision farming helps prevent nutrient leaching and accumulation, enhancing fertilizer usage efficiency. The integration of secondary nutrient information into fertigation systems can provide accurate nutrient application rates and mixing ratios, reducing costs and boosting crop yields.

Regional Insights

South America: South America is anticipated to be the fastest-growing region in the secondary macronutrients market. The region's large agricultural sector plays a significant role in its economy. The availability of secondary macronutrient fertilizers is increasing, making them more accessible and cost-effective for farmers. Additionally, South American agricultural exports must meet international quality standards, further driving the adoption of secondary macronutrient fertilizers.

Segment Analysis

Fruits & Vegetables Segment: The fruits and vegetables segment is expected to be the fastest-growing category during the forecast period. The rise in veganism and vegetarianism has led to increased demand for plant-based foods. Additionally, health-conscious consumers are prioritizing diets rich in fruits and vegetables , further driving growth in this segment.

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Calcium as the Fastest-Growing Nutrient Segment: Calcium is considered essential for higher crop productivity. It supports better root growth, seed and flower formation, and enhances plant resistance to pests and diseases. Crops such as sugarcane, rice, fruits, and vegetables benefit significantly from calcium supplementation. Calcium's role in regulating plant growth and reproductive development makes it a crucial driver for market growth.

Liquid Form of Secondary Macronutrients: The liquid form of secondary macronutrients is projected to be the fastest-growing segment. These nutrients can be delivered through foliar sprays , fertigation, and soil drenches, providing farmers with flexibility in their application methods. Liquid formulations are easier to mix with water and other fertilizers, ensuring uniform nutrient distribution across fields for consistent crop growth and higher yields.

The global secondary macronutrients industry is set for steady growth due to the increasing need to address soil nutrient deficiencies and the rising demand for high-quality crops. Advances in precision agriculture and the adoption of efficient nutrient delivery methods further bolster the market's prospects. As regions like South America embrace these agricultural innovations, the market is poised for significant development, benefiting both farmers and consumers alike.

Top Secondary Macronutrients Leaders

• Nutrien Ltd. (Canada)
• Yara (Norway)
• The Mosaic Company (US)
• Israel Chemicals Ltd. (Israel)
• K+S Aktiengesellschaft (Germany)
• Nufarm (Australia)
• SPIC (India)
• Koch Industries, INC. (US)
• Coromandel International Ltd (India)
• Deepak Fertilisers and Petrochemicals Corporation Ltd. (Pune)
• Haifa Negev Technologies LTD (Israel)

Browse Related Reports:

• Sulfur Fertilizers Market
• Water-soluble Fertilizers Market
• Controlled-release Fertilizers Market
• Agricultural Micronutrients Market

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