Secondary Macronutrients Market: Drivers, Restraints, Opportunities, and Challenges

The secondary macronutrients market is projected to reach USD 37.12 Billion by 2022, at a CAGR of 3.76% from 2017 to 2022. Secondary macronutrients help to combat the impact of nutrient deficiency in crop production.

(EMAILWIRE.COM, September 24, 2021 ) The secondary macronutrients market is projected to reach USD 37.12 Billion by 2022, at a CAGR of 3.76% from 2017 to 2022. Secondary macronutrients help to combat the impact of nutrient deficiency in crop production. One of the major factors driving the growth of the secondary macronutrients market is the rising demand for fruits & vegetables that require sufficient nutrition during their growth stage.

The secondary macronutrients market, based on nutrient, has been segmented into sulfur, magnesium, and calcium. Calcium occupied the largest share in the market as it is consumed in large amounts during the growing stage of the crop. Also, it is the most important nutrient that is required by crops and helps to strengthen cell walls and reduce bruising and disease in fruit & vegetable crops.

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The secondary macronutrients market, by formulation, has been segmented into liquid and dry. Due to the extended shelf life of granular fertilizers, it helps to provide nutrition to plants over an extended period; it is also cost-effective when compared to liquid fertilizers; hence, the dry formulation segment is estimated to dominate the market in 2017.

The secondary macronutrients market, by application method, has been segmented into solid application and liquid application. Liquid application occupied the largest share due to the high adoption of fertigation and foliar applications. Under liquid application, fertigation is the most-widely adopted application method, followed by foliar application. Farmers mainly prefer liquid application due to its efficacy and savings on labor costs.

The secondary macronutrients market, by crop type, has been segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others (turf, forages, ornamental crops, stimulant crops, and sugar crops). The fruits & vegetables segment is estimated to dominate the market in 2017, due to the increased demand for high-quality fruits & vegetables.

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.

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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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