Global Starter Fertilizers Market - 2023-2030Market Overview
The global starter fertilizers market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is expected to exhibit a CAGR of 4.5% during the forecast period (2023-2030).
Starter fertilizers are used at or close to the time of planting to provide young plants with the vital nutrients they need to flourish. The need for high crop yields is the primary factor driving starter fertilizers market growth. The composition of starter fertilizers can vary depending on the type of crop, soil conditions, and farming practices.Market Dynamics
Increasing demand for high crop yields is driving the growth of the starter fertilizers market
According to Worldometer, currently, there are 8 billion people on the Earth. With this rapidly growing population, the demand for food is increasing. Farmers are focusing on improving crop productivity to meet the growing global demand for food. Starter fertilizers provide essential nutrients to crops at the beginning of the growing season. This can help stimulate plant growth and increase crop yields. Starter fertilizers can also improve the quality of crops, such as the size, color, and nutrient content of fruits and vegetables. Overall, the increasing demand for high crop yields is driving the growth of the starter fertilizers market.
Environmental concerns hamper the growth of the starter fertilizers market
Overuse or improper use of starter fertilizers can lead to soil and water pollution, which can have detrimental effects on the environment, aquatic life, and human health. This can lead to regulatory constraints toward the use of starter fertilizers. Improper handling and application of starter fertilizers can be dangerous to farmers, livestock, and the environment. Exposure to toxic chemicals can cause health problems, such as respiratory issues, skin irritation, or cancer, leading to regulatory constraints and negative public perception.COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it to pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).Segment Analysis
The global starter fertilizers market is segmented based on product type, form, method of application, and region.
Improved seeding establishment in the in-furrow method of application of starter fertilizers
Based on the method of application, the in-furrow segment accounted for the highest share in 2022. In-furrow application places the fertilizer directly in contact with the seed, providing essential nutrients that young plants need for optimal growth. This promotes quicker germination, better seedling establishment, and healthier plants. For in-furrow applications, rates of 4 to 5 gallons per acre are typically advised.Geographical Analysis
Major key players in North American region trying to expand their business
North America is expected to grow at a higher pace during the forecast period, owing to increasing consumer awareness about the application of fertilizers in seeds and their effects on the growth of the plant. Major key players in the region follow a merger and acquisition strategy to expand their business in the region. For instance, on May 12, 2021, CHS Inc announced plans for a significant renovation and expansion project at its Myrtle Grove, La., grain export terminal. The US$ 73 million investment focuses on storage and handling upgrades, which will grow market access for farmer-owners and help move 30% more bushels of grain annually through the terminal to global customers.Competitive Landscape
The major global players include The Scotts Miracle-Gro Company, Yara International ASA, Agrium Inc., Helena Chemical Company, Miller Seed Company, Agro-Culture Liquid Fertilizers, Grassland Agro, Stoller Usa Inc., Nachurs Alpine Solution, and Conklin Company Partners Inc.Why Purchase the Report?
• To visualize the global starter fertilizers- market segmentation based on nutrient, crop type, application, form, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous starter fertilizer market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global starter fertilizers market report would provide approximately 69 tables, 68 figures and 102 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies