Foliar Sprays are nutrients that are sprayed to plants in their vegetative and generative (flowering, fruit setting, and maturity) stages. COVID-19 has affected the maturity and harvest of crops, due to lockdown regulations and stay-at-home orders, a majority of farmers are scared to come out of their homes. Shortages of agricultural laborers have added to their woes. The lockdown has dealt a blow to the agricultural sector at a time when crops like paddy, maize, red jowar, chilies, tomato, and horticulture products like banana, watermelon, musk melon, sweet lime, grapes, pomegranate, and papaya are ready to be harvested. Owing to all the above factors the consumption and demand for the Foliar Spray market is decreased.
– Over the medium term, the major factor driving the market studied is a growing demand of foliar sprays from horticulture crops.
– On the flip side, the growing demand of organic fertilizers in agriculture coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
– Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
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Key Market Trends
Growing Demand of Foliar Sprays from Horticulture Crops
– Foliar spray is a technique used to feed plants by applying liquid fertilizer directly to the leaves and thus plants can absorb essential elements through their leaves.
– Foliar applications are used to supply micronutrients more rapidly for the correction of severe deficiencies commonly induced during the early stages of growth and are temporary solutions to the problem.
– Foliar feeding has been widely used and accepted as an essential part of crop production, especially on horticultural crops. For example, Fruit trees can be treated by foliar application for an infestation of spider mites during the summer.
– The horticulture sector has become one of the major drivers due to the availability of less water, increasing small farms and it is more remunerative than the agricultural sector.
– India has a diverse range of climate and physioogeographical conditions, making it ideal for the cultivation of horticultural crops such as fruits, vegetables, flowers, nuts, spices, and plantation crops. As a result, India is now one of the world’s leading producers of horticulture.
– According to Ministry of Agriculture and Farmers Welfare, during the fiscal year 2019, the volume of horticulture production in India was over 313 million metric tons. Fresh fruits were the most valuable horticulture product exported from India in fiscal year 2020, with a value of over 54 billion Indian rupees. In that year, the south Asian country exported over 819 thousand metric tonnes of fruits.
– Hence, owing to the above-mentioned factors, the application of foliar spray from horticulture crops is likely to dominate during the forecast period.
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