(I-BusinessNews.Com, March 16, 2019 ) Â According to the report,Â demand for foliar fertilizer is projected to expand at a CAGR of 4.0% with respect to volume during the period of forecast, 2018-2028. Steady demand for foliar fertilizer is likely to translate into significant sales volumes crossing 3,400,000 metric tonsÂ by the end of the assessment period.
The growing demand for agricultural products on the back of rising population rates and per capita consumption has presented potential avenues for the use of novel agricultural techniques such as foliar fertilization. According to analysis carried out by Food and Agriculture Organization (FAO) of the United Nations, kilocalorie demand per person is likely to reach 3050 kcal. In addition to this, global population is expected to touch 8.3 billion by 2030. Momentous growth in population is expected to increase the demand for agricultural commodities, in turn, creating an urgency to enhance the agricultural produce using nutrition enhancement with foliar fertilizer. This is likely to spur the demand for foliar fertilization, consequently pushing the sales of foliar fertilizer.
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Sales of mineral foliar fertilizer are expected to gain increasing momentum across key regional markets. Mineral foliar fertilizer are expected to account for a major share in the overall foliar fertilizer market as compared to the organic foliar fertilizer. However, organic foliar fertilizer is expected to gain traction on the back of larger profit margins that they offer. Against this backdrop, manufacturers and suppliers of organic foliar fertilizer are introducing new products. For instance, Gronn Gjodsel AS has introduced Pepton 85/16, an organic foliar fertilizer featuring high nutritional content.
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Introduction of nanotechnology in the agro fertilizer space has enhanced the nutrient absorption quotient in plants. As compared to conventional crop fertilizers such as large granules, the nanocomposite foliar fertilizer can be custom-designed to obtain smaller particles with desired nutrient compositions. In addition, nanocomposite foliar fertilizer can be synthesized and produced in one step with less energy consumption. With the enhanced absorption capacity, nanocomposite foliar fertilizer facilitates efficient binding of nutrient ions enhancing plant nutrition. In addition, application of nano-B and nano-Zn foliar fertilizer, which has been tested on pomegranate, can increase the leaf micronutrient concentration further aiding plant nutrition.
The report on foliar fertilizer market covers a detailed assessment on foliar fertilizer manufacturers worldwide. Various players including, but not limited to, Helena Agri-Enterprises LLC, EuroChem Group Ag and K+S AG have been covered in the foliar fertilizer market report.
Companies are introducing new products in their portfolio to increase their scope of application in the foliar fertilizer space. For instance, Helena Agri-Enterprises LLC has introduced CitriFlo that is a foliar fertilizer used on flowers and fruit plants. It has also introduced Kendal, a nutrient supplement that enhances plant defenses.
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