PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449637
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449637
The foliar spray market size is expected to reach US$ 9.70 Bn by 2031, from US$ 7.30 Bn in 2024, at a CAGR of 4.1% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 7.30 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 4.10% | 2030/2031 Value Projection: | US$ 9.70 Bn |
Foliar sprays refer to applications of liquid fertilizers or agricultural chemicals directly to plant leaves through spraying. This targeted method of delivery allows for the efficient absorption of nutrients and other substances by leaves. As growing environmental and economic pressures drive the demand for sustainable farming practices, foliar sprays have gained popularity due to their advantages over traditional soil applications. By bypassing the soil medium, foliar sprays can more quickly correct micronutrient deficiencies in plants. They also reduce the risk of groundwater contamination compared to soil applications. With organic and sustainable agriculture on the rise, the foliar spray market is expected to grow steadily in the coming years.
The global foliar spray market is driven by the rising demand for organic and residue-free food products. Consumers are increasingly health-conscious and prefer fruits and vegetables that have little to no traces of pesticides. This has propelled farmers to adopt foliar sprays that minimize soil contamination and produce crops with fewer residues. Another major factor propelling the market growth is the cost-effectiveness of foliar sprays. They require smaller quantities of nutrients to achieve the same results as soil applications, thereby reducing input costs for farmers. However, stringent regulations pertaining to adjuvants and surfactants used in foliar sprays pose a challenge to market players. Also, over-dependence on foliar sprays could reduce soil quality over the long run. This presents an opportunity for integrated pest management solutions. The global foliar spray market is driven by the need for efficient nutrient delivery methods for crops. Soil applications can often be inefficient with nutrients leaching away before plants can absorb them. Foliar sprays work faster to correct deficiencies.