Global Agricultural Secondary Nutrients Market - 2024-2031

Global Agricultural Secondary Nutrients Market - 2024-2031

Global Agricultural Secondary Nutrients Market reached US$ YYx billion in 2023 and is expected to reach US$ YYx billion by 2031, growing with a CAGR of YY% during the forecast period 2024-2031.

Magnesium, calcium and sulfur are incorporated into the secondary nutrients. Although these are considered secondary elements, they are just as important for plant nutrition as any of the other 14 essential plant nutrients. Secondary nutrients are required in moderate quantities and are less likely to limit growing crops. Calcium helps absorb other important nutrients, likewise, magnesium acts as an excellent enzyme activator responsible for botanical growth and blooming.

Plants require secondary macronutrients in minimal quantity but are not replaceable with any primary nutrients. Calcium, along with magnesium and potassium, helps to neutralize organic acids, which form during cell metabolism in plants. Increasing demand for food, soil degradation, adoption of sustainable agriculture practices and technological advancements in nutrient management are driving the market growth.

As yields increase, it the important to ensure the fields are receiving adequate levels. Crop yields have dramatically increased over the past decade according to The Mosaic Company. Corn producing at 200 bu/acre will utilize about 65 lb/acre of magnesium and 33 lb/acre of sulfur. In contrast, when the corn yield is 120 bu/acre, the magnesium and sulfur utilization drops to 30 and 20 lb/acre, respectively.

Dynamics

Decline in Arable Land

Continuous agricultural practices, such as monocropping, excessive tillage and inadequate nutrient management, contribute to soil degradation and nutrient depletion. Arable lands become increasingly nutrient-deficient, affecting crop yields and quality. According to a publication by NIH, in April 2022, in particular, ~55% of arable lands in China are revealed Mg-deficient.

Also, according to the Food and Agriculture Organization, the world’s arable land has decreased by nearly a third since 1961. It is reported that a total of 10.8% of the land area is present in 2021. The global market for agricultural secondary nutrients is fueled by decreasing arable land in major crop-producing countries and increasing soil contamination across the globe.

The deficiency of essential secondary nutrients such as sulfur, magnesium, and calcium in soil due to excess exposure to synthetic chemical fertilizers is leading to increased demand for specially formulated nutrients for agricultural purposes. These secondary nutrients are essential for restoring soil health, improving nutrient balance, and enhancing soil fertility, thereby mitigating the negative impacts of soil degradation on agricultural productivity.

Mounting Pressure to Increase Crop Productivity

With the world's population continuing to increase, there is a corresponding increase in the demand for food. U.S. Census Bureau's International Database projects that the world population reached 8 billion by October 2023. With the increasing population, consumers are increasingly demanding high-quality, nutritious food products. Secondary nutrients play a crucial role in enhancing the nutritional content, taste and appearance of crops, meeting consumer preferences and market demands.

To meet this demand, farmers are enhancing crop productivity to produce more food on limited arable land. Secondary nutrients such as calcium, magnesium, and sulfur are essential for maintaining soil health and fertility. They play crucial roles in soil structure, nutrient availability, and pH balance, which are fundamental for supporting robust plant growth and maximizing crop yields.

Lack of Awareness about the Importance of Agricultural Secondary Nutrients

One of the major restraining factors in the agricultural secondary nutrients market is the lack of awareness and education among farmers about the importance of secondary nutrients for crop health and productivity. While primary nutrients like nitrogen, phosphorus, and potassium receive significant attention in agricultural practices, secondary nutrients such as calcium, magnesium and sulfur often receive less emphasis.

Farmers prioritize primary nutrient applications without adequately addressing secondary nutrient deficiencies, leading to suboptimal crop yields and quality. In some regions, secondary nutrient products may not be as readily available or accessible compared to primary nutrient fertilizers. This limited availability can hinder farmer’s ability to address secondary nutrient deficiencies in their soils and crops.

Segment Analysis

The global agricultural secondary nutrients market is segmented based on nutrient, crop, type, form, application method and region.

High Role of Calcium in Strengthening the Cell Wall

The global agricultural secondary nutrients are segmented by nutrient type into calcium, magnesium, and sulfur. Calcium accounted for the largest segment of the global market, owing to the growing demand for lime and gypsum to tackle soil acidity issues. In addition, calcium is the most important nutrient among the three macronutrients as it helps to strengthen the cell wall, reduce soil salinity, and improve water penetration.

Calcium is responsible for proper plant cell division and for strengthening cell walls. It improves the absorption of other nutrients by roots and their translocation within the plant. It activates enzyme systems, helps convert nitrate-nitrogen into proteins and contributes to improved disease resistance. Without enough Ca, roots become stunted with impaired activity, driving the segment growth.

Geographical Penetration

Presence of High Agricultural Industry in Asia-Pacific

The Asia-Pacific dominated the global agricultural secondary nutrients market. The dominance is attributed to the rising agriculture industry across major food-producing countries, coupled with rapidly rising incidences of nutrient deficiency in the soil of the region. The growing population across the region and rapidly rising demand for nutrient-rich food products are anticipated to boost the utilization of agricultural secondary nutrient products in the region.

Furthermore, the adoption of innovative marketing approaches by key players in the region and the launch of programs to educate farmers about the benefits of using micronutrients to stimulate crop growth will help in expanding the market size of the region. The presence of major players such as Nufarm (Australia), Coromandel International (India), and Deepak Fertilisers and Petrochemicals (India) is supporting the market growth in this region.

Competitive Landscape

The major global players in the market include Nufarm Ltd., The Mosaic Company, Nutrien Ag Solutions, Inc., Yara International ASA, Coromandel International Limited, Haifa Negev technologies LTD, Israel Chemicals Ltd., Koch Fertilizer, LLC., Deepak Fertilisers and Petrochemicals and Act Agro Chem Pvt Ltd.

COVID-19 Impact Analysis

The widespread novel coronavirus has had a modest negative impact on the agricultural industry in 2020 owing to the lockdowns and other restrictions imposed in most parts of the world. Global economies have contracted by 5% to as much as 20% during the first half of 2020. Increasing COVID-19 cases and uncertainties in the development of vaccines are poising the GDP to decline till the end of 2020.

The global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. There have been multiple shocks impacting service delivery, such as fiscal constraints, interruption of supply chains due to travel restrictions, and lack of availability of labor. For instance, Jiang et al. pointed out that COVID-19 has brought some adverse effects on the development of the seed industry, agricultural products processing, leisure agriculture, and others in China.

By Nutrient
• Sulphur
• Calcium
• Magnesium

By Crop
• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Turfs and Ornamentals
• Others

By Type
• Organic
• Conventional

By Form
• Solid
• Liquid
• Other

By Application Method
• Foliar Spray
• Soil Application
• Fertigation

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In February 2023, The Andersons, Inc. launched a new line of granular micronutrients branded MicroMark DG.
• In August 2022, Acron Group launched a 100,000-tpa unit to produce granulated calcium nitrate at its facility in Veliky Novgorod. The Group invested approximately RUB1.5 billion in this project.

Why Purchase the Report??
• To visualize the global agricultural secondary nutrients market segmentation based on nutrient, crop, type, form, application method and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of agricultural secondary nutrients market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global agricultural secondary nutrients market report would provide approximately 78 tables, 73 figures and 234 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies