Overview and Scope
Secondary agricultural nutrients refer to essential plant nutrients that are required by plants in smaller quantities. These are essential for plant growth and plant development. The agricultural secondary nutrients include calcium, magnesium, and sulfur. Secondary nutrients can be found naturally in the soil, but they can also be added through fertilization to ensure that the soil has optimal nutrient levels for healthy plant growth and development.
Sizing and Forecast
The secondary agricultural nutrients market size has grown steadily in recent years. It will grow from $43.25 billion in 2023 to $45.17 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to agricultural practices, soil health awareness, crop yield and quality, market demand and adoption, climate conditions.
The secondary agricultural nutrients market size is expected to see steady growth in the next few years. It will grow to $54.79 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to consumer awareness, global agricultural trends, research and development, market expansion, environmental regulations. Major trends in the forecast period include sustainable agriculture, precision farming, crop diversification, organic farming trends, supplier innovations.
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Segmentation & Regional Insights
The secondary agricultural nutrients market covered in this report is segmented –
1) By Nutrient Type: Sulphur, Calcium, Magnesium
2) By Crop Type: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Turfs and Ornamentals, Other Crop Types
3) By Application Method: Solid, Liquid
North America was the largest region in the secondary agricultural nutrients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global secondary agricultural nutrient market report during the forecast period. The regions covered in the secondary agricultural nutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising soil contamination is expected to propel the growth of the secondary agricultural nutrients market going forward. Soil contamination refers to the presence of pollutants or harmful substances in the soil beyond acceptable levels. Soil contamination can have a significant impact on the availability and uptake of secondary agricultural nutrients by plants. For instance, in May 2022, according to Eco watch, a US-based news website and media organization, 20 million acres of land is contaminated by Per- and poly-fluoroalkyl substances (PFAS) when compared to the previous year. Therefore, the rising soil contamination is driving the growth of the secondary agricultural nutrients market going forward.
Key Industry Players
Major companies operating in the secondary agricultural nutrients market report are Nutrien Ltd, Deepak Fertilizers and Petrochemicals Corporation Limited, Yara International ASA, Coromandel International Limited, Nufarm Limited, The Mosaic Company, Haifa Group, Israel Chemicals Ltd., Sapec Agro S.A., Impact Fertilizer Pty Ltd, Calcium Products Inc., Koch Industries Inc., Evergrow Solutions, Koch AG & Energy Solutions LLC, Agriculture Solutions Inc., KS AG, IFFCO, SABIC, URALCHEM JSC, CF Industries Holdings Inc., Wilbur-Ellis Company LLC, Aries Agro, Aditya Microdynamic, Acadian Seaplants Limited, Agrium Inc., PotashCorp, Sinochem Group, Qatar Fertiliser Company (QAFCO), Rubamin, SQM S.A., Compass Minerals, Tessenderlo Group, Kugler Company, Brandt Consolidated, Verdesian Life Sciences, BioWorks Inc., Fertiberia, Omex Agrifluids, Tradecorp International
The secondary agricultural nutrients market report table of contents includes:
1. Executive Summary
2. Secondary Agricultural Nutrients Market Characteristics
3. Secondary Agricultural Nutrients Market Trends And Strategies
4. Secondary Agricultural Nutrients Market – Macro Economic Scenario
5. Global Secondary Agricultural Nutrients Market Size and Growth
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31. Global Secondary Agricultural Nutrients Market Competitive Benchmarking
32. Global Secondary Agricultural Nutrients Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Secondary Agricultural Nutrients Market
34. Secondary Agricultural Nutrients Market Future Outlook and Potential Analysis
35. Appendix
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