Secondary Macronutrients Market size is forecast to reach $38 billion by 2025, after growing at a CAGR of 3.41% during 2020-2025. Plants requires secondary macronutrients in minimal quantity but are not replaceable with any primary nutrients owing to this, the secondary macronutrients will grow. Growth in demand for high-value crops such as fruits and vegetables with increasing deficiency of secondary macronutrients in the soil will drive the market during the forecast period.
Nutrients – Segment Analysis
Calcium holds the largest share in the Secondary Macronutrients market. Calcium in plant growth is to provide structural support to cell walls. Calcium also serves as a secondary messenger when plants are physically or biochemically stressed. Calcium deficiencies rarely occur in Mississippi soils. Soils with favorable pH levels are normally not deficient in calcium. Acid soils with calcium contents of 500 pounds per acre or less are deficient for legumes, especially peanuts, alfalfa, clovers, and soybeans. At this level, limited root system crops such as tomatoes, peppers, and cucurbit would also need additional calcium. Soluble calcium is available as the Ca2+ ion and is needed for peanuts at pegging time and for peppers and tomatoes to prevent blossom end rot. Available calcium can be lost from the soil when it is (a) dissolved and removed in drainage water, (b) removed by plants, (c) absorbed by soil organisms, (d) leached from the soil in rain water, or (e) absorbed by clay particles.
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Crop Type – Segment Analysis
Fruits & Vegetables sector has been the primary market for Secondary Macronutrients. Vegetables are rich and comparatively cheaper source of vitamins and minerals. Their consumption in sufficient quantities provides taste, palatability and increase appetite and provides fair amount of fibers. Proper plant nutrition is essential for successful production of vegetable crops. Every macronutrient has its own character and is therefore involved in different metabolic processes of plant life. The present review is an attempt to provide basic information about the role of macronutrients in the production and quality of vegetables. Vegetables play an important role in the balanced diet of human beings by providing not only the energy rich food but also promise supply of vital protective nutrients like minerals and vitamins.
Application – Segment Analysis
Liquid applications holds the largest market share for the secondary macronutrients market. 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. Fluid fertilizers are popular because of the ease of handling and use. Movement is by pump, and they usually require less labor to handle. Some pesticides can be injected into the fluid, saving trips across the field. Fertilizers custom blended to specifications are available. Properly applied, fluid fertilizers are no more or less efficient than dry fertilizers. Most fluid fertilizers contain the same basic ingredients as dry fertilizers. The only difference is that fluid fertilizers are dissolved in water, and dry fertilizers are not. The efficiency of fluid fertilizers is determined by the way they are applied.
Geography – Segment Analysis
APAC dominated the Secondary Macronutrients market with a share of more than xx%, followed by North America and Europe. Countries such as India and China are major players in this region. Major crops produced in Asia include rice, sugar beet, fruits & vegetables, cereals, and grains; the region consumes 90% of the global rice produced. There is a huge demand for Secondary Macronutrients market in Asia Pacific due to the direct use of micronutrients to treat plant deficiencies and are often sprayed in combination or as additives. Micronutrients are essential elements that are used by plants in small quantities. For most micronutrients, crop uptake is less than one pound per acre. In spite of this low requirement, critical plant functions are limited if micronutrients are unavailable, resulting in plant abnormalities, reduced growth and lower yield.
Drivers – Secondary Macronutrients Market
Increasing usage for fertilizers
Various nutrients boosts plant production and keep people all over the world fed and healthy, and enhanced efficiency fertilizers. The third category of essential crop nutrients: micronutrients. Micronutrients play a supporting role in overall plant health and development. Micronutrients promote essential plant processes and growth, which translates into nutrient-rich food for animals and humans. Micronutrients include boron, chlorine, copper, iron, manganese, molybdenum and zinc, which are often in short supply for growing crops. Owing to this the increasing usage of fertilizers the Secondary Macronutrients market will grow.
Implementation of Governments Regulations
Governments globally are focusing on boosting their agriculture sector. Whereas Governments regulations such as Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) by Indian Government will help to grow the agriculture sector. Under the Scheme an income support of Rs.6000/- per year is provided to all farmer families across the country in three equal installments of Rs.2000/- every four months, which will financially help the farmers let them focus more towards farming. And with the growth of agricultural sector the Secondary Macronutrients market will grow.
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Challenges – Secondary Macronutrients Market
Impact of COVID 19
The global Secondary Macronutrients Market continues to be challenged by the lockdowns, logistical disturbances, reduced productions, and associated economic impacts of COVID-19. The global fertilizer sector has been affected since the outset, primarily in China, the world’s largest producer as well as consumer of agriculture micronutrients. The outbreak of a novel coronavirus in China has to date had the most critical impact across the Chinese agriculture micronutrients sector, affecting the movement of both micronutrients products and raw materials in and out of the country. Moreover, this pandemic also expected to hit the agriculture micronutrients industry in the U.S., Brazil, India, and EU-5 countries.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Secondary Macronutrients market. Major players in the Secondary Macronutrients Market are Coromandel International, Deepak Fertilizers & Petrochemicals, Haifa Chemicals, Koch Industries, Kugler Company among others.
In December 2017, Coromandel International, India’s second largest phosphatic fertilizer player with interests in fertilizers, crop protection, specialty nutrients, organic fertilizers, has signed a term sheet to acquire the Bio-Pesticides business from E.I.D. Parry together with its wholly owned subsidiary Parry America, Inc, USA through a slump sale. The transaction is valued for 338 crores.
Asia-Pacific dominates the Secondary Macronutrients market owing to increasing demand from crops such as cereals & grains, oilseeds & pulses with Others.
Plants requires secondary macronutrients in minimal quantity but are not replaceable with any primary nutrients, which is likely to aid in the market growth of Secondary Macronutrients.
Growth in demand for high-value crops such as fruits and vegetables with increasing deficiency of secondary macronutrients in the soil will increase the market demand for Secondary Macronutrients in the near future.
COVID 19 Pandemic will create hurdles for the Secondary Macronutrients market.
Related Reports :
A. Agricultural Micronutrients Market
B. Bioinsecticides Market
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