GLOBAL FOLIAR SPRAY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Foliar Spray Market Size and Trends

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.

Foliar Spray Market- Trends

• Adoption of precision farming techniques: The increased use of precision farming and digital agriculture tools is having a major impact on the foliar sprays market. Precision farming utilizes technology like GPS, sensors, and data analysis to precisely target the application of inputs like fertilizers and pesticides. This allows farmers to customize spraying based on detailed geo-referenced maps of their fields. By only applying sprays where needed, based on soil conditions, crop health and other field data, farmers can reduce chemical usage by 20-30%. This both cuts costs for farmers and decreases potential environmental impacts. The ability to spray only specific problem areas is increasing demand for targeted foliar nutrition products. According to statistics from the United States Department of Agriculture's National Agricultural Statistics Service, the acreage of US crop land using GPS and GIS precision technology almost doubled between 2008-2018, reaching over 100 million acres. As more farmers adopt precision techniques, it is driving growth in tailored precision foliar products.

The shift to precision agriculture is also influencing the type of foliar spray products preferred by farmers. Digital data analysis allows for more precise identification of crop nutrient deficiencies or pest threats. As a result, there is increased demand for foliar sprays customized for specific needs, rather than broad-spectrum applications. For example, data may show a field only needs treatments for a certain strain of fungus. This creates market opportunities for foliar product manufacturers to develop more targeted nutrient mixtures or bio-pesticides addressing single issues. Leading precision agriculture supplier AGCO's 2021 survey of American farmers found 78% have increased their use of controlled traffic patterns, grid soil sampling, and varietal zoning enabled by precision technologies on their fields in just the past three years. As precision adoption rates continue rising, it will further reshape the foliar spray market.

• Digitalization in agriculture: The trend of digitalization in agriculture is having a significant impact on the foliar spray market. Farmers are increasingly using precision and digital farming techniques to improve crop yields and quality. Sensor technologies, Internet of Things devices, drones and satellite imagery are helping farmers closely monitor crop health and detect issues like nutrient deficiencies or pest infestations quickly. This real-time data allows for more targeted application of foliar sprays only where and when they are needed. Precision spraying equipment connected to GPS and digital maps ensures no overlap or missed areas when spraying. This optimizes fertilizer and pesticide usage, saving costs for farmers and reducing environmental impact. Data collected through digital means is also enabling more customized foliar spray formulations. Agronomists can analyze a field's specific conditions and needs to advise farmers on the right blend of nutrients or active ingredients suited for that location. Some foliar spray manufacturers are partnering with sensor companies and agronomic service providers to offer digital advisory services along with their products. This comprehensive solution helps boost farmer output while also providing opportunities to upsell additional spray rounds or related products. For example, according to data from the United States Department of Agriculture, precision agriculture techniques have increased average crop yields by over 15% and profits by over 20% for adopters compared to conventional farmers.

The shift towards data-driven agriculture will continue propelling growth in the foliar sprays market, especially for precision and digital products. Manufacturers are investing heavily in research to develop new spray mixes and formulations designed for precision applications. They are also enhancing their digital capabilities to better facilitate online agro-advisory and e-commerce sales channels. This trend is set to vastly improve farm productivity and sustainability worldwide in the coming years.