Secondary Agricultural Nutrients Global Market Report 2024

The secondary agricultural nutrients market 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 expansion observed during the historic period can be attributed to factors such as agricultural practices, increased awareness of soil health, considerations for crop yield and quality, market demand, and the widespread adoption of certain practices, all influenced by climate conditions.

The secondary agricultural nutrients market 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%. Looking into the forecast period, the anticipated growth is linked to heightened consumer awareness, global shifts in agricultural trends, ongoing research and development initiatives, market expansion efforts, and compliance with environmental regulations. Key trends expected during this period encompass the promotion of sustainable agriculture, the adoption of precision farming techniques, efforts towards crop diversification, a surge in organic farming practices, and innovative solutions introduced by suppliers in the agricultural sector.

The anticipated growth of the secondary agricultural nutrients market is expected to be propelled by the increasing issue of soil contamination. Soil contamination, characterized by the presence of pollutants or harmful substances beyond acceptable levels, can significantly impact the availability and uptake of secondary agricultural nutrients by plants. An example of this is highlighted in a report by EcoWatch in May 2022, indicating that 20 million acres of land were contaminated by Per- and poly-fluoroalkyl substances (PFAS) compared to the previous year. This escalation in soil contamination is a key driver for the growth of the secondary agricultural nutrients market.

The rising global population is projected to contribute to the expansion of the secondary agricultural nutrients market. The global population, representing the total number of individuals on Earth at a specific point in time, is diverse in demographics, geography, and culture. The secondary agricultural nutrients market plays a vital role in supporting the increasing global population by providing essential elements that enhance soil fertility and boost crop yields. This contribution is crucial for sustainable and efficient agricultural practices, ensuring global food security. According to the United Nations' projections in April 2023, the global population is expected to increase from 7.8 billion in 2020 to 8.0 billion in 2022, 8.1 billion in 2025, and 9.7 billion in 2050. Hence, the growing global population acts as a driving force for the growth of the secondary agricultural nutrients market.

Product innovations stand out as a key trend gaining traction in the secondary agricultural nutrients market, with companies strategically focusing on the development of innovative products to maintain their competitive positions. For instance, in April 2023, Nufarm Ltd., an Australia-based agricultural company, introduced Tourney EZ fungicide, a liquid fertilizer product designed to provide essential nutrients to crops. This innovative product is intended to be used alongside other crop protection products, such as herbicides and fungicides, to enhance plant health and maximize yields.

Major players in the secondary agricultural nutrients market are also adopting strategic partnership approaches to drive revenue and promote the understanding and effective utilization of these nutrients. In March 2021, Haifa Group, an Israel-based multinational corporation specializing in specialty fertilizers, partnered with AgrIOT, an Israel-based geo-spatial agriculture data management platform. This collaboration introduces innovative technology for monitoring and addressing nutrient deficiencies in agricultural crops through smartphone-based recommendations. Aligning with precision agriculture principles, this partnership enhances Haifa Group's product mix and significantly contributes to the secondary agricultural nutrients market by promoting efficient and sustainable crop production practices.

In July 2022, Nutrien Ltd., a Canadian fertilizer company, made a strategic acquisition of Casa do Adubo S.A., a South America-based company specializing in producing and distributing fertilizers, agrochemicals, and other inputs for crop production. This acquisition aimed to generate incremental run-rate sales of around $400 million, expanding Nutrien Ltd.'s presence and enabling it to serve additional growers with cutting-edge solutions, contributing to sustainable global food production.

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.

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. The countries covered in the secondary agricultural nutrients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of secondary agricultural nutrients are sulfur, calcium, and magnesium, all of which play vital roles in various crop types, including cereals and grains, oilseeds and pulses, fruits and vegetables, turfs and ornamentals, and others. Sulfur, with the chemical symbol S and atomic number 16, is a non-metallic element present in the Earth's crust, minerals, and living organisms. In agriculture, sulfur serves as an essential macronutrient, commonly utilized in fertilizers to enhance plant growth and development. Application methods for these secondary agricultural nutrients include both solid and liquid forms to address the specific needs of different crops and soil conditions.

The secondary agricultural nutrient market research report provides secondary agricultural nutrient market statistics, including secondary agricultural nutrient industry global market size, regional shares, competitors with secondary agricultural nutrient market share, detailed secondary agricultural nutrient market segments, market trends, and opportunities, and any further data you may need to thrive in the secondary agricultural nutrient industry. This secondary agricultural nutrient market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The secondary agricultural nutrients market consists of sales of organic fertilizers and foliar fertilizers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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