What Has Been The Historical And Current Growth Of The Secondary Macronutrients Market?
The secondary macronutrients market has seen considerable growth due to a variety of factors.
•In recent times, the market size of secondary macronutrients has shown consistent growth. With an expectation of rising from a value of $41.68 billion in 2024 up to $43.33 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 4.0%.
Factors contributing to this growth during the historic period include increased demand for secondary macronutrients, ongoing urbanization and infrastructure progression, expansion of the agricultural sector, an intensified emphasis on sustainability, and the cost of raw materials.
What Is The Forecast For The Secondary Macronutrients Market By 2029?
The secondary macronutrients market is expected to maintain its strong growth trajectory in upcoming years.
• The market for secondary macronutrients is projected to experience robust expansion in the coming years, reaching a valuation of $53.62 billion in 2029 with compounded annual growth rate (CAGR) set at 5.5%.
This anticipated growth within the forecast period can be ascribed to factors like the escalation in farming activities, growing food product demand, initiatives promoting environmental sustainability, advancements in urban and infrastructure sectors, and soil health regulatory support. Key trends projected during the forecast period encompass research and development activities, heightened awareness on nutrient deficiencies, governmental backing for modernizing agriculture, the upsurge in the global populace, and the resilience as well as efficiency of the supply chain.
Which Key Drivers Are Propelling The Secondary Macronutrients Market's Growth?
The projected growth of the secondary macronutrients market is significantly linked to the expansion of the agricultural industry. This industry, which encompasses crop and livestock farming, as well as agricultural engineering and production of farming-related items such as chemical fertilizers, is a key economic sector. Secondary macronutrients are vital in farming due to their role in promoting plant growth and enhancing soil fertility. They aid in maintaining a balanced nutrient profile in both soils and plants, optimising soil pH levels, enhancing soil aggregation, improving water infiltration, and aiding nutrient absorption for effective crop growth, all of which boost crop productivity. Drawing from a report by the United States Department of Agriculture in February 2023, the US saw agricultural exports increase by 11%, or $19.5 billion, surpassing the previous 2021 record. Thus, it can be deduced that the growth of the agricultural industry is a significant driving factor for the secondary macronutrients market.
What Are The Key Segments Within The Global Secondary Macronutrients Market?
The secondary macronutrients market covered in this report is segmented –
1) By Nutrient Type: Calcium, Magnesium, Sulfur
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crop Types
3) By Application Method: Solid Application, Liquid Application
Subsegments:
1) By Calcium: Calcium Carbonate, Calcium Nitrate, Calcium Sulfate
2) By Magnesium: Magnesium Sulfate, Magnesium Oxide, Magnesium Nitrate
3) By Sulfur: Elemental Sulfur, Sulfate Compounds, Sulfur Coated Urea
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How Are New Trends Impacting The Size Of The Secondary Macronutrients Market?
Leading enterprises in the secondary macronutrient market are focusing on creating innovative products like crop nutrition solutions in an attempt to expand their consumer base, enhance sales, and increment revenue. Crop nutrition solutions imply a gamut of products and strategies meant to advance the nutrient accessibility and assimilation for crops, thus promoting their robust growth and improving yield. For example, SPARTA Biodiscovery, an agriculture business based out of Greece, introduced Functional Crop Nutrition (FCN) in October 2024. This specializes in offering a comprehensive approach to crop nutrition, incorporating the nourishment, protection, and biostimulation of plants. It delivers crucial macro and micronutrients necessary for the best crop progress while concurrently protecting crops from diseases, pests, and environmental risks like drought and heat.
Who Are the Key Players in the Secondary Macronutrients Market?
Major companies operating in the secondary macronutrients market include:
• 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
• 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.
• Deepak Fertilisers and Petrochemicals Corporation Limited
• Koch Ag and Energy Solutions LLC.
• Kugler Company
What are the Regional Insights into the Secondary Macronutrients Market?
Asia-Pacific was the largest region in the secondary macronutrients market in 2024. The regions covered in the secondary macronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
