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Secondary Macronutrients Market

Published Date : Jul 2024 | Forecast Year : 2019

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Secondary Macronutrients Market Size, Share, Industry Trends Segmentation Analysis by Type (Nitrogen Fertilizers, Phosphorus Fertilizers, Potassium Fertilizers, Secondary Macronutrient Fertilizers) by Application (Grains & Cereals, Oilseeds & Pulses, Fruits & Vegetables, Others) Growth, Demand, Regional Outlook, and Forecast 2024-2032

Report ID: AG989

Published : Jul 2024

Pages : 154

Category : Agriculture

Format : Secondary Macronutrients Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 56.08 billion
MARKET SIZE (2023)USD 39.89 billion
CAGR (2023-2029)4%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPENitrogen Fertilizers
Phosphorus Fertilizers
Potassium Fertilizers
Secondary Macronutrient Fertilizers
BY APPLICATIONGrains & Cereals
Oilseeds & Pulses
Fruits & Vegetables
Others
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSNutrien Ltd., Yara International ASA, The Mosaic Company, Israel Chemicals Ltd. (ICL), SQM (Sociedad Química y Minera de Chile), CF Industries Holdings, Inc., Uralkali, Agrium Inc. (now part of Nutrien), BASF SE, OCP Group, Haifa Group, EuroChem Group AG, Koch Industries (through Koch Fertilizer), Tessenderlo Group.

Introduction: - 

Secondary macronutrients are essential nutrients that plants need in reasonable amounts for healthy growth. These nutrients include calcium (Ca), magnesium (Mg) and sulfur (S). Calcium promotes cell wall structure, membrane integrity, and enzyme functions. Magnesium is an important constituent of chlorophyll, important for photosynthesis and also plays a role in enzyme activation. Sulfur is important for protein synthesis, which forms amino acids such as cysteine ​​and methionine, and is involved in the production of vitamins and enzymes. Although plants require secondary macronutrients in smaller amounts compared to primary macronutrients such as nitrogen, phosphorus and potassium, their presence is essential for overall plant development and productivity. Adequate amounts of secondary macronutrients in the soil ensure that plants can effectively utilize primary nutrients and maintain strong growth, stress resistance and optimal nutrition. Agricultural practices often involve supplementing these nutrients with fertilizers so that crops reach their full potential.

The global Secondary Macronutrients Market value was 39.89 billion in 2023, it is Estimated to Reach 56.08 billion 2032 with CAGR of 4%

Secondary Macronutrients Market

Size, by Product, - (USD Billion)

Nitrogen Fertilizers

Phosphorus Fertilizers

Potassium Fertilizers

Secondary Macronutrient Fertilizers

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

4%

The Forecast Market

Size for in USD:

$56.08 billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Market drivers: -

Several key factors drive the secondary macronutrients market. Growing global demand for higher yields due to population growth and changing dietary habits increases the need for fertilizers containing calcium, magnesium and Sulphur. These nutrients are critical for improving soil fertility, plant health and agricultural productivity. In addition, farmers' growing awareness of the importance of soil health and sustainability has forced them to adopt fertilizers that contain secondary macronutrients. Government initiatives and subsidies continue to stimulate market growth by encouraging farmers to use fertilizers that promote balanced nutrition and improve crop quality. Technological advances in agriculture, such as precision agriculture and soil testing techniques, make it possible to optimize fertilizers, including secondary macronutrients, to maximize yields. Climate change concerns are also important because these nutrients increase soil resistance and resilience to environmental challenges. Together, these factors are driving the expansion and development of the secondary macronutrient market worldwide.

Top Market Companies: -

  • Nutrien Ltd.
  • Yara International ASA
  • The Mosaic Company
  • Israel Chemicals Ltd. (ICL)
  • SQM (Sociedad Química y Minera de Chile)
  • CF Industries Holdings, Inc.
  • Uralkali
  • Agrium Inc. (now part of Nutrien)
  • BASF SE
  • OCP Group
  • Haifa Group
  • EuroChem Group AG
  • Koch Industries (through Koch Fertilizer)
  • Tessenderlo Group

    Secondary Macronutrients Market

    Share, by end user, (USD Billion)

    Analytica Global 39.89 billion%

    Grains & Cereals

    Oilseeds & Pulses

    Fruits & Vegetables

    Others

    Other End-Users

    b0d51e3055fd6f23ff6a384a6e091406.svg

    56.08 billion

    Total Market Size

    USD (Billion),

    4%

    CAGR

    -

Segment Overview: -

By Types

  • Nitrogen Fertilizers
  • Phosphorus Fertilizers
  • Potassium Fertilizers
  • Secondary Macronutrient Fertilizers
  • Micronutrient Fertilizers
  • Organic Fertilizers

By Application

  • Grains & Cereals
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others 

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional insights: -

North America: Dominated by advanced farming practices and high demand for precision farming technologies with a focus on sustainable and efficient nutrient management.

Europe: emphasizes strict environmental regulations that increase demand for environmentally friendly fertilizers. There is also a growing trend towards organic farming methods.

Asia-Pacific: Rapidly increasing agricultural activity in countries such as China and India due to population growth and increasing demand for food. Major investments to modernize agriculture and increase productivity.

Latin America: Abundant natural resources, heavily focused on agricultural production. Incorporating technology into agricultural practices to improve efficiency and yield.

Middle East and Africa: Diverse agricultural landscapes with different infrastructure and technology use. Focus on improving soil fertility and water supply in dry areas.

Secondary Macronutrients Market

Size, by Product, - (USD Billion)

NORTH AMERICA $ 21

The Market will Grow

At the CAGR of:

4%

The Forecast Market

Size for in USD:

$56.08 billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Market restraints: -

Environmental Problems:

Effects on Soil Health: Although necessary in moderate amounts, improper or excessive use of secondary macronutrients can disrupt the soil's pH balance and nutrient balance. This can lead to nutrient imbalances, soil degradation and reduced fertility in the long term.

Water quality: Runoff from fields treated with fertilizers containing secondary macronutrients can cause water pollution and affect aquatic ecosystems and human health. Regulatory pressure to minimize nutrient leaching and runoff affects fertilizer use patterns.

Carbon footprint: production processes for secondary macronutrient fertilizers often involve energy-intensive methods that increase greenhouse gas emissions and an environmental footprint. Mitigating these impacts requires investment in sustainable practices and technologies.

Market opportunity: -

Advances in fertilizer technologies:

Technical innovations in fertilizer products, such as controlled and slow-release technologies, offer opportunities to optimize nutrient distribution and minimize losses to the environment.

Precision farming technologies, including soil mapping and sensor-based nutrient management, enable the targeted use of fertilizers containing secondary macronutrients, improving efficiency and reducing production costs.

Key Market trends: -

Emphasis on balanced nutrients: Increasing demand for secondary macronutrients such as calcium, magnesium and sulfur to improve soil fertility and optimize crop nutrition.

Promote sustainability: using fertilizers that improve nutrient efficiency and reduce environmental impact and support sustainable agricultural practices.

Technological Advances: Innovations in fertilizer formulations, such as controlled release technologies, improve efficiency and effectiveness.

Global Expansion: In emerging markets, the use of secondary macronutrients is increasing with agricultural expansion supported by evolving agricultural techniques.

End-User Insights: -

End-user insights into the secondary macronutrient market show a focus on soil health, sustainability and customized solutions. Farmers prefer to use balanced nutrients with calcium, magnesium and sulfur to improve soil fertility and crop tolerance. They are increasingly adopting sustainable practices to minimize environmental impact and are looking for customized fertilizer solutions that cater to specific soils and plants. Integrating technologies such as precision farming tools helps optimize fertilizer use to improve yield and efficiency. These trends highlight a shift towards environmentally friendly and economically viable agricultural practices among end users in the secondary market of macronutrients.

Secondary Macronutrients Market TO (USD BN)

Secondary Macronutrients Market

CAGR OF

4%

Secondary Macronutrients Market

b0d51e3055fd6f23ff6a384a6e091406.svg
Analytica Global 56.08 billion %

Recent development: -

MAY 13, 2024--Yara Clean Ammonia, the world’s largest trader and distributor of ammonia, and Greenko ZeroC, the green ammonia production arm of the India-based AM Green, signed a term sheet for supply of renewable ammonia from Phase 1 of AM Green’s ammonia production facility in Kakinada, India.

Frequently Asked Question (FAQ): -

1. How big is the Secondary Macronutrients Market? 

ANS: The Secondary Macronutrients Market Size is Estimated to Reach 56.08 billion 2032 with CAGR of 4%

2. Who are the key players in Secondary Macronutrients Market?

ANS: Nutrien Ltd., Yara International ASA, The Mosaic Company, Israel Chemicals Ltd. (ICL), SQM (Sociedad Química y Minera de Chile), CF Industries Holdings, Inc., Uralkali, Agrium Inc. (now part of Nutrien), BASF SE, OCP Group, Haifa Group, EuroChem Group AG, Koch Industries (through Koch Fertilizer), Tessenderlo Group

3. Which is the dominating region in Secondary Macronutrients Market?

ANSNorth America is the dominating region in Secondary Macronutrients Market.

Secondary Macronutrients Market - Global Outlook & Forecast 2024-2029

Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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