Growth in Demand for High-Value Crops Such as Fruits & Vegetables Drives Market for Secondary Macronutrients

The secondary macronutrients market is driven by the need for increasing the yields of crops and the growing demand for high-value crops.

(EMAILWIRE.COM, October 13, 2020 ) The secondary macronutrients market is projected to reach USD 37.12 Billion by 2022, at a CAGR of 3.76% from 2017 to 2022. Factors such as increasing deficiencies of sulfur, magnesium, and calcium in the soil and the growing importance for higher crop yields are expected to drive the market for secondary macronutrients.

The calcium segment estimated to dominate the market with the largest share

The calcium segment is estimated to be the largest nutrient type of secondary macronutrients in 2017 owing to the growing demand for gypsum and lime to tackle soil acidity issues. In addition, calcium is the most important nutrient among three macronutrients as it helps to strengthen the cell wall, reduce soil salinity, and improve water penetration.

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The liquid formulation segment is projected to grow at a higher rate during the forecast period

The liquid formulation segment is projected to grow at a higher CAGR during the forecast period due to the increasing use of fluid fertilizers that can be uniformly applied to the field, thereby maintaining low application levels. Also, liquid fertilizers save labor costs and are generally used as secondary fertilizers for a quick boost during the growing season.

The Asia Pacific region is estimated to dominate the market

Increasing agricultural practices and requirement of high-quality agricultural produce are the factors fueling the demand for secondary macronutrients in Asia Pacific. The major crops produced in this region include rice, wheat, and fruits & vegetables. Also, the presence of major players such as Nufarm (Australia), Coromandel International (India), and Deepak Fertilisers and Petrochemicals (India) supports the growth of the secondary macronutrients market in this region.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as Nutrien (Canada), Yara International (Norway), The Mosaic Company (US), Israel Chemicals Ltd. (Israel), and K+S (Germany).

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