Nutrien (Canada) and Yara International (Norway) are the Key Players in the Secondary Macronutrients Market

Chicago, 2021-Sep-08 — /EPR Network/ —

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.

Key players in the secondary macronutrients market include Nutrien (Canada), Yara International (Norway), The Mosaic Company (US), Israel Chemicals Ltd. (Israel), and K+S (Germany). Nufarm (Australia), Koch Industries (US), Coromandel International (Italy), Deepak Fertilisers and Petrochemicals (India), Haifa Chemicals (Israel), Sapec Agro Business (Portugal), and Kugler Company (US) are a few other key market players who also have a significant share in the secondary macronutrients market.

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Scope of the Report:

This research report categorizes the secondary macronutrients market based on nutrient, formulation, application method, crop type, and region.

Based on Nutrient, the market has been segmented as follows:

• Sulfur
• Calcium
• Magnesium

Based on Formulation, the market has been segmented as follows:

• Liquid
• Dry

Based on Application Method, the market has been segmented as follows:

• Solid application
• Liquid application

Based on Crop Type, the market has been segmented as follows:

• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Others (turf, forages, ornamental crops, stimulation crops, and sugar crops)

Based on Region, the market has been segmented as follows:

• North America
• Europe
• Asia Pacific
• South America
• RoW (Africa and the Middle East)

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.

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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.