Foliar Spray Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Foliar Spray Market Analysis:

During the forecast period of 2021–2026, the Global Foliar Spray Market is anticipated to exhibit a compound annual growth rate (CAGR) exceeding 5%. Foliar sprays, which are nutrients applied to plants during their vegetative and generative stages, have been impacted by the COVID-19 pandemic. The lockdown measures and stay-at-home orders have instilled fear among farmers, leading to a shortage of agricultural laborers. Consequently, the agricultural sector has suffered a setback, particularly when crops like paddy, maize, red jowar, chilies, tomato, and horticulture products such as banana, watermelon, musk melon, sweet lime, grapes, pomegranate, and papaya are ready for harvest. As a result of these factors, the consumption and demand for foliar sprays have declined.

Over the medium term, the market is primarily driven by the increasing demand for foliar sprays in horticulture crops. However, the market growth is hindered by the rising demand for organic fertilizers in agriculture and the unfavorable conditions caused by the COVID-19 outbreak. The Asia-Pacific region holds the largest market share and is expected to witness the highest growth rate during the forecast period. This growth can be attributed to the escalating consumption of foliar sprays in countries like China, India, and Japan.

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