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

Regional Analysis

Regional Analysis:

• The Asia Pacific has established itself as the dominant region in the global foliar spray market over the past decade. Asia Pacific is expected to expand at a CAGR of 40% during the forecast period. Population expansion and rising affordability have increased the regional consumption of food grains substantially. To meet the growing demand, governments are promoting commercial farming practices and new technologies. Several countries like India, China, Thailand and Vietnam now rank among the largest producers and exporters of rice, fruits and vegetables. However, limited availability of cultivable land requires maximizing output from existing farmland. This is positively impacting the uptake of foliar sprays for boosting yields. Production facilities set up by global leaders are making high-quality products easily accessible even in rural pockets
• North America is expected to expand at a CAGR of 30% during the forecast period. The large-scale agricultural operations across the Midwest and Western United States has created considerable demand for foliar sprays to boost crop yields. Leading agricultural product manufacturers have set up production facilities across the major farming states such as Iowa, Nebraska and California to cater to regional requirements. Well-established distribution networks allow farmers easy access to a wide range of foliar nutrient solutions. Government support through subsidies and financing schemes have encouraged widespread adoption of productivity-enhancing solutions like foliar sprays. Stringent quality regulations have also boosted customer confidence in commercial products. The presence of pioneering agrotech companies and research universities further strengthens the regional industry.
• Europe is expected to expand at a CAGR of 15 % during the forecast period. The market is expected to the increasing demand for high-quality crops, the growing trend towards organic farming and sustainable agriculture, and the adoption of advanced technologies are driving the market growth in Europe region.
• Latin America is expected to expand at a CAGR of 8% during the forecast period. The growing demand for foliar sprays from horticulture, the emphasis on technologically advanced farming techniques, and the increasing awareness of the benefits of foliar sprays are driving the market growth in Latin America region.
• Middle East & Africa is expected to expand at a CAGR of 7% during the forecast period. The presence of agricultural economies, the availability of fertile and arable land, and lucrative government schemes are contributing to the exponential growth of the foliar spray market in Middle East & Africa region.

Figure 1. Foliar Spray Market Share (%), By Region, 2024

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China,India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, and Rest of Middle East