Secondary Macronutrients Market

The global secondary macronutrients market size was valued at US$ 38.6 billion in 2022 and is poised to grow from US$ 39.9 billion in 2023 to US$ 48.5 billion by 2028, growing at a CAGR of 4.0% in the forecast period (2023-2028).

The growth of the market is driven by the increasing secondary macronutrient deficiency in the soil and the growing area under cultivation for high-value crops. The deficiency of secondary macronutrients causes yellowing of leaves, stunted growth, and a decrease in crop yield. To avoid these deficiencies, secondary macronutrients are applied to provide essential minerals to crops and soil, thereby maintaining crop and soil health. Intensive farming practices, such as monoculture and excessive use of fertilizers, can lead to soil depletion, which, in turn, reduces the availability of secondary nutrients in the soil. This has led to an increased need for supplementary secondary nutrient fertilizers. As consumers become more health-conscious, there is a growing demand for high-quality, nutrient-dense crops. Secondary nutrients play a critical role in the development and quality of crops, making them an essential component of modern agriculture. These are some of the key factors propelling the growth of secondary nutrients.

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Secondary Macronutrients Market Dynamics

Drivers: Need for increasing crop production

The consumption of animal products increases as more people enter the middle class, which in turn drives up the demand for grains and other crops to feed the animals. The amount of arable land accessible for farming declines as more people move into urban areas, necessitating an increase in agricultural production on already-existing farmland. In order to supply the needs of the urban population, it is necessary to boost the productivity of already used agricultural land and to investigate novel approaches to food production, such as vertical farming and urban agriculture. The most effective use of secondary nutrients can significantly boost the productivity of currently used agricultural land and support sustainable and creative methods of food production.

Restraints: Rising instances of counterfeit goods

The production of counterfeit items by several rivals decreases consumer loyalty as well as the product brand value. The secondary macronutrients market is expected to increase steadily, which must be capitalized on by manufacturing products that are authentic and effective on a wide range of crops. Counterfeit fertilizers may contain incorrect or insufficient amounts of secondary macronutrients or may be formulated with low-quality ingredients that are not effective in improving plant growth and crop yields. As a result, farmers may experience reduced yields or poor crop quality, and may be forced to purchase additional fertilizers to make up for the lack of effectiveness.

Opportunities: Precision agriculture for nutrient control on site-by-site basis

Precision agriculture includes site-specific nutrient management, which may be applied to any field or crop. It is a technology-based technique of growing crops effectively and on-site using specialized application equipment that can maintain water and nutrients in the root zone. Precision farming has the ability to enhance output and fertilizer usage efficiency by preventing nutrients from leaching from or accumulating in excessive amounts in specific areas of the field. Precision farming is gaining popularity in industrialized nations because of the efficient use of the fertigation method, which has the potential to be a successful instrument in the judicious delivery of secondary nutrients, resulting in decreased application costs. The kind of secondary nutrient and its formulation may be entered into the information system, which can then offer an accurate analysis of the crop's nutrient requirements, application rate, and mixing ratio inside the fertigation system.

Challenges: Utilization of agricultural biologicals in farming

The utilization of agricultural biologicals such as biofertilizers, biopesticides, PGRS, and inoculants is growing rapidly in the agricultural sector. This is because people are getting more concerned and conscious about their health and the environment. Agricultural biologicals are gaining popularity due to their potential to improve crop productivity, enhance soil health, and reduce the environmental impact compared to conventional chemical inputs. This could-be a challenge to the secondary macronutrients. The growing market for various biologicals is being an obstacle for the secondary macronutrients market. The demand for organic food such as organic fruits & vegetables is rising worldwide, which is reducing the demand for synthetic fertilizers.

According to the circular economy of the European Union, the new rules will apply to all types of fertilizers to guarantee the highest levels of soil protection. The Regulation introduces strict limits for cadmium in phosphate fertilizers. The limits will be tightened from 60 mg/kg to 40 mg/kg after 3 years and to 20 mg/kg after 12 years, reducing health and environmental risks. Soil protection will demand less application of fertilizers. The farmers have to apply limited fertilizers to the crops so that it will not affect the quality of the soil. Hence, it can also be a threat for applying the secondary nutrient more than the required amount.

Secondary Macronutrients Market Ecosystem

Key players in market have strong distribution network and have strong financial records. These firms have experience of several years, well established manufacturing facilities, r&d centers, and skilled workforce. Prominent players in this market include Nutrien Ltd. (Canada), Yara (Norway), The Mosaic Company (US), Israel Chemicals Limited (Israel), and K+S Aktiengesellschaft (Germany).

By nutrient, calcium is projected to gain largest share in the market during the study period

Adequate calcium intake is key to normal root system development, healthy fruit set, and high-quality fruit development. At the same time, it stimulates photosynthesis and ensures more efficient utilization of nitrogen. Calcium increases root mass, resulting in faster and better growth of plants in spring. It also helps promote crop uniformity, an important factor for row crops and forage growers. Optimal amounts of calcium help improve soil structure, ensuring healthy, aerated soils. Calcium is immobile in plants, so a continuous supply is essential. Thus, driving the growth of segment in the secondary macronutrients market.

By crop type, fruits & vegetables is forecasted to grow at highest CAGR in the market during the research period

With increasing health awareness across people of different age groups, the demand for fresh foods, fruits & vegetables in particular, is growing rapidly. In developed countries such as US, Canada, UK, Germany, among others, people are adopting veganism which makes fruits & vegetables major source of vitamins and mineral in their diet. Thus, production of these crops is predicted to increase with increased demand. Deficiency of secondary macronutrients can severely affect the yield quality as well as quantity of these crops. For instance, calcium deficiency produces small, thickened leaves and causes loss of vigor, thinning of foliage, and decreased fruit production.

By mode of application, liquid segment is anticipated to occupy major share in the secondary macronutrients market during the study period

Liquid spraying methods improve plant response in terms of accuracy and nutrient availability to plants. Liquid fertilizer is applied evenly and precisely to the edge of the field, unlike granular application. One advantage of liquid spraying is that the liquid penetrates the soil more quickly, allowing plants to access nutrients sooner. Some plants will see immediate results from this application. In fact, many growers use this type of fertilizer early in the season to ensure rapid root growth so that the plants can take root when they absolutely need to. Its precision allows farmers to aim their crops more efficiently, and the nutrients are used exactly where plants need them.

By form, dry segment is forecasted to gain the major share in the market during the review period

Dry fertilizers have the advantage of slow release of nutrients and can generally be stored longer than some liquid fertilizers without the danger of "settling" over time. It is usually inexpensive when purchased in bulk and has long-lasting nutrients, making it a good choice for fertilizing fields before planting. Dry fertilizers are usually formulated in granular form. Fertilizer blending is accomplished by blending individual granular fertilizers of known assay (e.g. 46-0-0, 18-46-0, and 0-0-60) in the correct proportions to obtain the desired blend. If farmers had access to custom-blended granular fertilizers, they could optimize crop fertility programs and improve crop production efficiency. This allows for more profitable crop production.

Several major countries in Asia Pacific region such as India are still agricultural economies with most of the population having agriculture as their main occupations. The governments in the region are promoting soil testing so that the farmers can supplement essential nutrients to crops which are not present in soil in sufficient quantities. The increasing modern agricultural practices and requirement of high-quality agricultural produce are expected to drive the market in the region.

Top Secondary Macronutrients Companies

Key players in this market include Nutrien Ltd. (Canada), Yara (Norway), The Mosaic Company (US), Israel Chemicals Limited (Israel), K+S Aktiengesellschaft (Germany), Nufarm (Australia), SPIC (India), Koch Industries, INC. (US), Coromandel International (India), Deepak Fertilisers and Petrochemicals Corporation Ltd. (India), Haifa Negev Technologies LTD (Israel), Kugler Company (USA), IFFCO (India), Western Nutrient Corporation (US), and Arise Agro Limited (India).

Secondary Macronutrients Market Scope

Secondary Macronutrients Market Segmentation

The study categorizes the secondary macronutrients market based on by nutrient, by crop type, by mode of application, by form, and region.

Market By Nutrient

• Calcium
• Sulfur
• Magnesium

Market By Crop type

• Cereals & grains
  • Corn
  • Wheat
  • Rice
  • Other cereals & grains
• Oilseeds & pulses
  • Soybean
  • Sunflower
  • Other oilseeds & pulses
• Fruits & vegetables
  • Root & tuber vegetables
  • Leafy vegetables
  • Pome fruits
  • Berries
  • Citrus fruits
  • Other fruits & vegetables
• Other crop types

Market By Application

• Liquid application
  • Fertigation
  • Foliar
  • Other liquid mode of applications
• Solid application
  • Broadcasting
  • Deep Tillage
  • Localized Placement

Market By Form

• Dry form
• Liquid form

Market By Region

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

Secondary Macronutrients Industry Developments

• In January 2023, K+S Aktiengesellschaft (Germany) accepted to acquire 75% of the agricultural input business of Industrial Commodities Holdings (Pty) Ltd (South Africa).
• In August 2022, Koch Industries, INC. (US) announced expansion of its production capacity with new manufacturing plant at Dodge City, Kansas, US. It will produce 35,000 tons of UAN per year.
• In March 2022, The Haifa Group signed with HORTICOOP BV a purchase agreement acquiring Horticoop Andina. Upon acquiring the brand, Haifa is expected to broaden its scope of activities in Ecuador and the surrounding Latin market and continue to establish its status as an international superbrand in advanced plant nutrition.

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