Global Secondary Macronutrients Market Report 2024, Forecast To 2033
8 Mar, 2024
The secondary macronutrients market has shown steady growth, with a size of $40.08 billion in 2023, projected to reach $41.96 billion in 2024, at a CAGR of 4.7%. This growth is driven by factors like urbanization, sustainability focus, and increased agricultural activities. Looking forward to 2028, the market is expected to hit $49.93 billion, growing at a CAGR of 4.4%, propelled by rising food demand and environmental sustainability initiatives. Major trends include research and development, governmental support for agricultural modernization, and heightened awareness of nutrient deficiencies.
Global Secondary Macronutrients Market Key Driver
The secondary macronutrients market is forecasted to grow alongside the expansion of the agriculture industry. As agricultural exports surge, there is a heightened focus on enhancing soil fertility and optimizing crop growth. Secondary macronutrients play a vital role in achieving these objectives, thus driving demand in the market. With data from the United States Department of Agriculture indicating robust growth in agricultural exports, the expansion of the agriculture industry is set to fuel growth in the secondary macronutrients market.
Get A Free Sample Of The Global Secondary Macronutrients Market ReportGlobal Secondary Macronutrients Market Segments
The secondary macronutrients market covered in this report is segmented –
1) Nutrient Type:Calcium, Magnesium, Sulfur
2) Crop Type:Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
3) Application Method:Solid Application, Liquid Application
By Geography: The countries covered in the secondary macronutrients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the secondary macronutrients market in 2023. The regions covered in the secondary macronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Secondary Macronutrients Industry Players
Sinochem Holdings Corporation Ltd; Archer Daniels Midland Company; Bunge Limited; Dow Chemical Company; Bayer AG; Nutrien Ltd.; Mitsubishi Chemical Holdings Corporation; Syngenta AG; BASF SE; Yara International ASA; Sumitomo Chemical Co. Ltd.; The Mosaic Company; Monsanto Company; DuPont de Nemours Inc.; SQM; EuroChem Group AG; ICL Group Ltd; Israel Chemicals Ltd.; K+S Aktiengesellschaft AG; Sinofert Holdings Limited; Rashtriya Chemicals and Fertilizers Ltd.; Coromandel International Limited; Haifa Group; Zuari Agro Chemicals Ltd.; Compo Expert; Gujarat State Fertilizers & Chemicals Ltd.; Agrium Inc.; Deepak Fertilisers and Petrochemicals Corporation Limited; Koch Ag and Energy Solutions LLC.; Kugler Company
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Secondary Macronutrients Market Overview
Secondary macronutrients are the compounds required for a plant in smaller amounts than N, P, and K but in greater amounts than micronutrients. These consist of the elements calcium (Ca), magnesium (Mg), and sulfur (S), and the provision of these nutrients is required for proper plant growth, development, and overall nutritional balance.