Global Secondary Macronutrients Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 4% from 2020 to 2027, reaching US$ XX Bn.
Global Secondary Macronutrients Market
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Global Secondary Macronutrients Market Snapshot
Global Secondary Macronutrients Market Dynamics
Secondary macronutrients are nutrients that are essential for the proper growth and development of plants. The plants require secondary macronutrients in smaller quantities than nitrogen, phosphorus, and potassium. The global secondary macronutrients market is driven by the requirement for an expansion of yield in harvests and growth in demand for high-value crops such as fruits & vegetables.
However, the limited product accessibility and an increase in the incidence of counterfeit products are restraining the market growth at the global level. Site-specific nutrient management through precision agriculture and an increase in investment in agricultural operations in emerging economies are likely to create beneficial growth opportunities for the secondary macronutrients industry. Lack of awareness about the product and increasing a shift in regulatory systems toward environment-friendly practices are the major challenge for the market growth in the near future.
Global Secondary Macronutrients Market Segment Analysis
Based on the nutrient, the secondary macronutrients market is segmented into calcium, magnesium, and sulfur. The calcium segment has led the Secondary Macronutrients market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Owing to its usage in huge amounts during the developing phase of the crop, and the rising adoption of gypsum and lime to handle soil acidity issues. Calcium plays a significant role in creating plant tissues, and it empowers plants to grow better. Calcium is the most important nutrient among three macronutrients required by crops and helps to strengthen cell walls and decrease soil salinity, improve water penetration, and disease in fruit & vegetable crops.
Global Secondary Macronutrients Market Regional Insights
Geographically, the secondary macronutrients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Owing to the high utilization of secondary nutrients in developing countries such as China and India, and the existence of key market players in this region. Large space available for agriculture and awareness about the utilization of secondary products is the main reason behind the regional market growth. Growing agricultural practices and the necessity of high-quality agricultural harvest are propelling the demand for secondary macronutrients in the region. The major crops produced in this region contain wheat, rice, and fruits & vegetables. China and India are the leading contributors to regional market growth. Among these, China is the leading producer of lime, sulfur, and magnesite in the regional market due to a large amount of fertilizer utilized in agriculture.
The objective of the report is to present a comprehensive analysis of the Global Secondary Macronutrients Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Secondary Macronutrients Market dynamics, structure by analyzing the market segments and project the Global Secondary Macronutrients Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Secondary Macronutrients Market make the report investor’s guide.
Global Secondary Macronutrients Market Scope
Global Secondary Macronutrients Market, by Nutrient
Global Secondary Macronutrients Market, by Formulation
Global Secondary Macronutrients Market, by Crop Type
- Cereals and pulses
- Oilseeds and pulses
- Fruits and vegetables
Global Secondary Macronutrients Market, by Application
- Solid application
- Liquid application
Global Secondary Macronutrients Market, by Region
- Asia Pacific
- North America
- Latin America
- Middle East Africa
Global Secondary Macronutrients Market Major Players
- Nutrien Ltd.
- Yara International ASA
- The Mosaic Company
- Israel Chemicals Ltd.
- Koch AG & Energy Solutions LLC
- Coromandel International Limited
- Deepak Fertilisers and Petrochemicals
- Haifa Chemicals
- Sapec Agro S.A.
- Kugler Company
- Agriculture Solutions Inc
- Impact Fertilizer
- Van Iperen International B.V
- U.S. AG LLC
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