|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
USD37.65
billion
|
|
CAGR
(2024-2029)
|
3.68%
|
|
Fastest
Growing Segment
|
Calcium
|
|
Largest
Market
|
Asia
Pacific
|
|
Market
Size (2029)
|
USD46.23
billion
|
Market Overview
Global Secondary Macronutrients Market was valued at USD 37.65 billion in 2023 and is anticipated to project robust growth in the
forecast period with a CAGR of 3.68% through 2029. Secondary macronutrients
play a crucial role in plant cultivation, aiding distressed plants and
promoting overall growth. These essential nutrients, including calcium (Ca),
magnesium (Mg), and sulfur (S), have a lower requirement compared to nitrogen,
phosphorus, and potash, but are still more vital than micronutrients. Calcium
facilitates nutrient absorption from the soil, magnesium acts as an enzyme activator,
boosting growth, and sulfur protects leaves from premature aging and yellowing.
The growth of the agriculture industry and the
increasing popularity of macronutrients for healthy plant growth are the
primary drivers of the secondary macronutrients market. The demand for
high-value crops, such as fruits and vegetables, along with expanded
applications for industrial crops, further accelerate market growth. The need
to enhance agricultural yield, driven by the growing global population and food
requirements, also contributes to the market's growth.
Additionally, the pollutant resistance property
offered by macronutrients to plants increases their demand. The increasing
awareness of the benefits of secondary macronutrients, coupled with limited
arable land, positively impacts the secondary macronutrients market.
Furthermore, the adoption of site-specific nutrient management through
precision agriculture, the growing demand for industrial crops, and investments
in agricultural operations in developing nations present lucrative
opportunities for market players.
On the other hand, the prevalence of forged
products and limited availability of macronutrients in the market pose
challenges to market growth. The shift in regulatory frameworks towards
environmentally friendly agricultural practices, along with a lack of awareness
about the product, is expected to hinder the secondary macronutrients market in
the forecast period.
Therefore, secondary macronutrients are essential
for plant growth and offer numerous benefits to the agriculture industry.
Despite some challenges, the market is poised for growth due to increasing
demand, awareness, and investment in agricultural operations.
Key Market Drivers
Growing Emphasis on Soil Health
Secondary macronutrients, namely calcium (Ca),
magnesium (Mg), and sulfur (S), are crucial for optimal plant growth and
development. They play a vital role in various biological processes, including
photosynthesis, enzyme activation, and cell division. Despite their
significance, secondary macronutrients often take a backseat to primary
macronutrients such as nitrogen, phosphorus, and potassium.
However, with increasing awareness of the
importance of balanced nutrition for crops, secondary macronutrients have
started gaining the attention they deserve. This shift in focus can be
attributed to the growing emphasis on maintaining soil health, as healthy soil
forms the foundation of productive agriculture. Besides supporting plant
growth, healthy soil facilitates water filtration, acts as a buffer against
pollutants, and serves as a biodiversity hotspot. Achieving and maintaining
soil health requires a balanced supply of both primary and secondary
macronutrients.
As the global agricultural community becomes more
enlightened about the crucial role of secondary macronutrients, the demand for
these nutrients has witnessed a substantial increase. Farmers and agronomists
now recognize that deficiencies in secondary macronutrients can lead to
decreased crop yield and compromised quality.
Moreover, government initiatives worldwide are
playing a pivotal role in promoting soil health and balanced fertilization. For
instance, the United States Department of Agriculture (USDA) has implemented
the Soil Health Initiative, aimed at educating farmers about the importance of
soil health and its direct impact on crop productivity. Similarly, the European
Union's 'Farm to Fork' strategy is focused on reducing nutrient losses and
ensuring balanced fertilization, thereby encouraging the use of secondary
macronutrients.
Surge in Crop Diversification
Crop diversification, the practice of growing
multiple crop species in the same area, is gaining popularity worldwide. It is
seen as a crucial strategy to secure the global food supply and build
resilience against future shocks. By diversifying crops, farmers can reduce the
risk of crop failure due to pests, diseases, or adverse weather conditions.
Additionally, crop diversification promotes sustainable agriculture by reducing
the dependency on a single crop and minimizing the negative environmental
impacts associated with monocultures.
Secondary macronutrients - calcium, magnesium, and
sulfur - play a pivotal role in supporting diversified cropping systems.
Different crops have varying nutritional requirements, and secondary
macronutrients are crucial in fulfilling these needs. Calcium, for example, is
essential for strong cell walls and proper nutrient uptake in plants. Magnesium
is a central component of chlorophyll, the pigment responsible for
photosynthesis, while sulfur is necessary for protein synthesis and enzyme
activity. These secondary macronutrients support vital plant functions such as
photosynthesis, enzyme activation, and cell division, thereby contributing to
healthy and diverse crop production.
Moreover, as crop diversification often involves
rotating different species in the same field at different times, the balanced
supply of secondary macronutrients helps maintain soil health and fertility
over time. By replenishing these secondary macronutrients, farmers can prevent
nutrient imbalances and ensure optimal plant growth and productivity in their
diversified cropping systems.
With the continued surge in crop diversification,
the secondary macronutrients market is set for substantial growth. As farmers
and agronomists increasingly recognize the importance of balanced plant
nutrition for diverse crops, the demand for secondary macronutrients is
expected to rise. This presents an opportunity for manufacturers and suppliers
of secondary macronutrients to meet the growing needs of farmers worldwide,
contributing to sustainable and resilient agricultural practices.
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Key Market Challenges
Surge in Environmental Concerns
While secondary macronutrients are vital for plant
health, their overuse and misuse can lead to severe environmental issues.
Excessive application of these nutrients can cause nutrient runoff into water
bodies, leading to eutrophication, a process where water bodies become overly
enriched with nutrients, causing algal blooms that deplete oxygen and harm
aquatic life.
Moreover, the production of these macronutrients
often involves energy-intensive processes, contributing to greenhouse gas
emissions and global warming. As we strive for more sustainable agricultural
practices, finding eco-friendly alternatives for secondary macronutrients becomes
imperative.
In response to these environmental concerns,
regulatory bodies worldwide have implemented stringent regulations on nutrient
management. For instance, the European Union's Nitrates Directive aims to
protect water quality by preventing nitrates from agricultural sources from
polluting ground and surface water. These regulations pose a challenge to the
secondary macronutrients market as they require manufacturers and farmers to
adopt sustainable practices, which may involve additional costs and complexity.
However, such challenges also present opportunities
for innovation. Many companies are now focusing on developing eco-friendly
macronutrient products. For instance, some are exploring the use of organic
waste as a source of secondary macronutrients. By repurposing waste materials,
we not only reduce environmental impact but also create a circular economy
where resources are maximized, and waste is minimized.
Key Market Trends
Growing Focus on Sustainable Agriculture
Sustainable agriculture is an approach that aims to
ensure that the current food and textile requirements of society are met, while
also safeguarding the ability of future generations to meet their own needs. It
encompasses three key objectives: maintaining environmental health, ensuring
economic profitability, and promoting social and economic equity.
In the context of sustainable agriculture,
secondary macronutrients play a crucial role. These nutrients are essential for
promoting plant health and productivity, thereby contributing to the economic
viability of farming practices. Moreover, their balanced application can
effectively prevent soil degradation and nutrient runoff, thus supporting
overall environmental health.
As the global community becomes increasingly aware
of the environmental impacts associated with conventional farming methods,
there is a growing trend towards adopting sustainable agricultural practices.
This shift in mindset is evident in the rising demand for secondary
macronutrients that support sustainable agriculture.
Farmers are recognizing the importance of balanced
fertilization, which involves providing plants with appropriate quantities of
all necessary nutrients, including secondary macronutrients. This holistic
approach not only enhances crop yield and quality but also minimizes potential
harm to the environment. By prioritizing sustainable practices and focusing on
the precise nutrient requirements of crops, farmers can contribute to a more
resilient and environmentally conscious agricultural system.
Segmental Insights
Nutrient Insights
Based on the category of nutrient, the calcium segment
emerged as the dominant player in the global market for secondary macronutrients
in 2023. Calcium plays a crucial role in plant growth by providing structural
support to cell walls. Additionally, it acts as a secondary messenger in
response to physical or biochemical stress experienced by plants. In
Mississippi soils, calcium deficiencies are rare, especially in soils with
favorable pH levels. However, acid soils with calcium contents of 500 pounds
per acre or less may be deficient in calcium, particularly for legumes such as
peanuts, alfalfa, clovers, and soybeans.
At this level of deficiency, even limited root
system crops like tomatoes, peppers, and cucurbits may require additional
calcium. Peanuts, in particular, benefit from soluble calcium during pegging
time, while peppers and tomatoes rely on it to prevent blossom end rot. It's
important to note that available calcium can be lost from the soil through
various means, including dissolution and removal in drainage water, uptake by
plants, absorption by soil organisms, leaching in rainwater, or absorption by
clay particles.
Crop Type Insights
The fruits and vegetables segment is projected to
experience rapid growth during the forecast period. Vegetables, being a rich
and affordable source of essential vitamins and minerals, offer numerous health
benefits. Their consumption in sufficient quantities not only enhances taste
and palatability but also boosts appetite, thanks to their fiber content.
Proper plant nutrition is crucial for the successful production of vegetable
crops, as each macronutrient plays a distinct role in various metabolic processes
of plant life.
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Regional Insights
Asia Pacific emerged as the dominant player in the Global
Secondary Macronutrients Market in 2023, holding the largest market share in
terms of value. Countries such as India and China play a significant role in
the agricultural landscape of the Asia Pacific region. They are major producers
of key crops including rice, sugar beet, fruits & vegetables, cereals, and
grains. It is noteworthy that the region itself consumes a staggering 90% of
the global rice production.
In addition, the demand for the Secondary Macronutrients
market in Asia Pacific is substantial. This is primarily driven by the direct
use of micronutrients to address plant deficiencies, often through spraying in
combination or as additives. Micronutrients are crucial elements that are
required by plants in small quantities. While crop uptake of micronutrients is
typically less than one pound per acre, their availability is essential for
critical plant functions. In the absence of sufficient micronutrients, plants
may exhibit abnormalities, experience reduced growth, and ultimately yield
lower harvests.
Recent Development
In
January 2023, K+S Aktiengesellschaft (Germany) completed the acquisition of 75%
of the agricultural input business of Industrial Commodities Holdings (Pty) Ltd
(South Africa). This strategic move broadened K+S's presence in the South
African market and reinforced its standing in the secondary macronutrients
sector.
Key Market Players
- Nutrien
Ltd
- Yara
International ASA
- The
Mosaic Company
- Israel
Chemicals Ltd
- K+S Aktiengesellschaft
- Nufarm
Ltd
- Southern
Petrochemical Industries Corp Ltd
- Koch
Industries Inc
- Coromandel
International Ltd
- Deepak
Fertilisers and Petrochemicals Corporation Ltd
|
By Nutrient
|
By Crop Type
|
By Region
|
|
|
- Cereals And Grains
- Oilseeds And
Pulses
- Fruits And
Vegetables
- Others
|
- North
America
- Europe
- Asia Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Secondary Macronutrients
Market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
- Global Secondary Macronutrients Market, By Nutrient:
o Calcium
o Magnesium
o Others
- Global Secondary Macronutrients Market, By Crop Type:
o Cereals And Grains
o Oilseeds And Pulses
o Fruits And Vegetables
o Others
- Global Secondary Macronutrients Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global
Secondary Macronutrients Market.
Available Customizations:
Global Secondary Macronutrients Market report with
the given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Secondary
Macronutrients Market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]