Secondary Macronutrients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The secondary macronutrients market is estimated to register a CAGR of 5.6% during the forecast period (2022-2027).

The COVID-19 pandemic has disrupted the global food supply chain and executed the problem of food and nutritional insecurity. Soil strategies to strengthen local food production systems, enhance their resilience, and create a circular economy focused on soil restoration through carbon sequestration and on-farm cycling of nutrients minimize environmental pollution and food contamination.

Secondary nutrients are required in a moderate amount and are less likely to limit crop growth. The secondary macronutrients incorporate calcium, sulfur, and magnesium. Calcium helps in the absorption of other major nutrients. Similarly, magnesium acts as an excellent enzyme activator responsible for botanical growth and flowering. Plants require secondary macronutrients in minimal quantity but are not replaceable with any primary nutrients.

Growth in demand for high-value crops such as fruits and vegetables with increasing deficiency of secondary macronutrients in the soil will drive the market during the forecast period. Asia-Pacific is projected to grow with the highest CAGR due to the prevalence of sodic soil, which will drive the lime and gypsum market during the forecast period.

Key Market Trends

Need for Achieving Higher Productivity

Secondary nutrient deficiency can cause inhibited growth and poor yield. Many countries across the world are now deficient in sulfur. Over time, organic sulfur has declined significantly in countries like Canada, mostly due to usage by crops, particularly high sulfur-using crops such as canola. Further in Brazil, sulfur deficiencies are largely encountered in sandy soils with low organic matter content in the Cerrado (tropical savanna) region.

In Eastern Canada, sulfur deficiencies are observed in winter wheat and corn in the early part of the growing season. Over the years, A reduction in industrial and vehicle emissions containing sulfur has reduced the atmospheric deposition of sulfur in farm fields. This, coupled with increasing crop yields (increased sulfur nutrient demand), has led to providing secondary nutrients at a rate necessary to maximize productivity.

Fertilization with secondary macronutrients such as sulfur increased the total content of sulfur and sulfates in plants, thereby positively affecting the crop yield. Therefore, the need for calcium, magnesium, and sulfur has increased due to the demands from today's high-yield crop systems, and they are essential for plant productivity.

Asia-Pacific is the Fastest Growing Market

Asia-Pacific is anticipated to record the fastest growth in the market. Large agriculture areas and awareness about the use of secondary products are the main reasons for the growth of the specific market. India and China dominate the market. There is high usage of secondary nutrients in China, the largest producer of lime, sulfur, and magnesite.

Sulfur is not mobile in the plant, so a continuous supply of sulfur is needed from emergence to crop maturity. A deficiency of sulfur at any stage of growth can result in reduced yields in China. As N, P, and K demands have been increasingly met, deficiencies of other nutrients have arisen, and sulfur has become of increasing interest since it is typically required in small quantities, ranking fourth behind N, P, and K.

Owing to the increased application and consequent demand, companies are also introducing new products into the market. For instance, in 2019, Yara Fertilisers India Private Limited launched YaraVita Stop it, a liquid micronutrient fertilizer containing high concentrations of calcium for spraying on fruits/foliage to control and reduce calcium-related disorders in crops.

Competitive Landscape

The secondary fertilizer market is slightly fragmented, with various small- and medium-sized companies coining smaller shares. Global market players, such as Yara International, Nutrien Ltd, Haifa Group, The Mosaic Company, and Coromandel International, are the leading market players in the segment, while smaller companies, such as Rural Liquid Fertilizers and Nutri-Tech Solutions, also account for a formidable market share.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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