Market Analysis

Market Research Future (MRFR) announces the publication of its research report Global Secondary Macronutrients Market, 2019 –2024. The Global secondary macronutrients market is expected to register a CAGR of 3.9% from 2019 to 2024 and reach USD 41.45 billion by the end of 2024. The cultivation of plants for commercial use requires proper care and nutrient management. Various types of nutrients are essential for plant development. Secondary macronutrients are required in moderate quantities for the overall well-being of the plants. Secondary macronutrients consist of calcium, magnesium, and sulphur. Magnesium acts as an enzyme activator which proves helpful in flowering and in biological growth of the plants. Sulphur forms a part of plant hormones and plant proteins and it also helps in seed formation. The Increasing population and the subsequent demand for more food is one of the major factors driving the growth of the global secondary macronutrients market.

Key Players

Some of the key players in the Global Secondary Macro Nutrients Market are Agriculture Solutions Inc (Canada), Evergrow (Egypt), Deepak Fertilizers and Petrochemicals Corporation Limited (India), Koch AG & Energy Solutions LLC (US), Coromandel International Limited (Indian), Israel Chemicals Limited (Israel), Nutrien Ltd. (Canada), Hafia Groups (Israel), Van Iperen International B.V. (Netherlands), Sapec Agro S.A. (Portugal), U.S. AG LLC (US), Kugler Company (US), Impact Fertilizer (Austrailia), Calcium Products, Inc (US), and Yara International ASA (Norway).

Regional Analysis

The global secondary macronutrients market has been segmented, based on region, into North America, Europe, Asia-Pacific, and the rest of the world.

The market in Asia-Pacific is expected to dominate the global secondary macronutrients market during the forecast period as agriculture is one of the main occupations in major Asian countries like India and China. Additionally, the large population in this region requires more agricultural produce to meet the food demand, which is expected to boost the growth of the secondary macronutrients market in this region. Moreover, factors like rise in cultivation of crops having high value is projected to further fuel the growth of secondary macronutrients market in this region.

The secondary macronutrients markets in North America is expected to show steady growth due to the expansion of the agricultural industry. However, increasing awareness and practice of organic farming and the stringent regulatory practices are expected to hamper the growth of secondary macronutrients market in these regions.

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Industry Segment

The global secondary macronutrients market has been segmented by nutrient, form, mode of application, and crop type.

By nutrient, the global secondary macronutrients market has been classified as calcium, magnesium, and sulfur. The calcium segment is expected to register the highest CAGR during the review period.

On the basis of form, the global secondary macronutrients market has been bifurcated into liquid and dry. The dry segment is expected to record the highest growth rate during the forecast period.