PUBLISHER: The Business Research Company | PRODUCT CODE: 1310601
PUBLISHER: The Business Research Company | PRODUCT CODE: 1310601
“Starter Fertilizers Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on starter fertilizers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for starter fertilizers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The starter fertilizers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the starter fertilizers market are: Yara International ASA, Miller Seed Company, Nachurs Alpine Solutions, Conklin Company Partners Inc., The Scotts Miracle-Gro Company, Stoller USA Inc., Helena Agri-Enterprises LLC, Bayer AG, BASF SE, Compass Minerals, Syngenta Crop Protection AG, ADAMA Ltd., Sumitomo Chemicals Co. Ltd., Nufarm, UPL Limited, K+S Aktiengesellschaft and ICL Group Ltd.
The global starter fertilizers market is expected to grow from $7.52 billion in 2022 to $7.81 billion in 2023 at a compound annual growth rate (CAGR) of 3.94%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The starter fertilizers market is expected to reach $9.24 billion in 2027 at a CAGR of 4.27%.
The started fertilizers market consists of sales of starter fertilizers with potassium chloride, zInc., boron, and ammonium nitrate nutrients. 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.
Starter fertilizers are a type of fertilizer that is applied near the seed to provide the seedling with the necessary nutrients for early growth. They are typically high-quality fertilizers that contain the nutrients most required by the seedlings. These can provide several benefits for crops, including maximizing crop yield potential, promoting early growth, and improving plant stand uniformity.
North America was the largest region in the starter fertilizers market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of starter fertilizers include synthetic and organic. Organic starter fertilizers are a type of fertilizer that is applied near the seed to provide readily available nutrients to the seedling. They are available in dry and liquid forms which consist of various types of nutrients including nitrogen starter fertilizer, phosphorous starter fertilizer, potassium, and micronutrients. These are applied for various crops including cereals, fruits and vegetables, forage, and turf grasses, and are used in various applications such as in-furrow, fertigation, foliar and other applications.
The growing demand for food is expected to drive the growth of the starter fertilizers market going forward. Starter fertilizers are applied for crops as they are beneficial for enhancing the development of emerging seedlings by supplying essential nutrients in accessible locations near the roots, increasing nutrient intake effectiveness, minimizing nutrient losses to the environment, and enhancing the general health and vigor of crops, and thereby increases the food productivity. For instance, in July 2021, according to the Springer Nature Group, a Berlin-based journal publisher stated that the total global food demand is expected to increase by 35% to 56% between 2010 and 2050. Furthermore, in 2021, according to USDA Economic Research Service, a US-based government administration, the agriculture, food, and related industries contributed 5.4 percent to U.S. gross domestic product. Therefore, the growing demand for food drives the starter fertilizers market.
Product innovation is a key trend gaining popularity in the starter fertilizers market. Major companies operating in the starter fertilizers market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in January 2023, Archer-Daniels-Midland Company, a US-based fertilizer manufacturer, launched a new crop biostimulant named NeoVita™ 43. This new biostimulant boosts corn yields by improving nutrient use efficiency. In multiyear trials conducted at the University of Illinois at Urbana-Champaign, the NeoVitaTM 43 biostimulant boosted maize yields by up to seven bushels per acre when combined with liquid starter fertilizer. NeoVita 43 is made to closely resemble the root exudate of plants, which encourages soil microbial activity to encourage nutrient availability and uptake by plants. growth plants can boost nutrient uptake and get off to a stronger start by having these essential nutrients available to the soil microbiome earlier in the growth season. This can result in higher yields.
In September 2021, Yara International, a Europe-based crop nutrition company acquired Ecolan for an undisclosed amount. This acquisition helped Yara to get into the business of organic farming in Europe. Also, it helped in improving nutrient use efficiency in organic farming by capitalizing on the deep crop nutrition knowledge of Yara International. Ecolan is a Finland-based manufacturer of fertilizers.
The countries covered in the starter fertilizers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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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