Market Overview:
Starter fertilizers are utilized in small quantity, and it is placed near the seed at the time of planting. They improve the growth of the budding seedlings by providing them with essential nutrients. They strengthen plant roots at an early stage. Nitrogen, phosphorous, and potassium are major nutrient components present in the starter fertilizer. Phosphorous results in the vigorous growth of the plant roots. It is broadly employed to maintain the phosphorous content in different crops and is particularly beneficial for the corn crops. Starter fertilizers are employed in cornfield production under cold soil temperatures. The world food additives market has been expected at USD 45.29 billion in 2018 and is estimated to reach 59.9 billion by 2023, at a CAGR of 5.75% throughout the forecast period from 2018 to 2023.
Market drivers and restraints:
Key growth factors of the starter fertilizers market have enhanced the applicability of starter fertilizers, an increased area under forage & turf grasses, and an increase in expenditure in R&D by the starter fertilizer makers. Untapped regions across the globe will show higher growth opportunities in the coming years. Nevertheless, limited uses of starter fertilizer in the crop production are key restraints of the starter fertilizers market.
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Report segmented as:
By application:
- Fertigation
- in-furrow
- foliar
By type:
- fruits & vegetables
- cereals
- forage & turf grasses
By nutrient component type:
- potassium
- phosphorus
- micronutrient
- nitrogen
Geographical analysis:
Geographically, the starter fertilizers market is segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the leading market for starter fertilizers; it is estimated to continue its growth in the coming years. The U.S. is a potential market for starter fertilizers, and it accounted for a major share.
Important market players:
Key players operating in the global starter fertilizers market are The Scotts Miracle-Gro Company, Agrium Inc., Miller Seed Company, Stoller USA Inc., and Yara International ASA, CHS Inc. Other influencing players include Helena Chemical Company, Conklin Company Partners Inc., Conklin Company Partners Inc., and Nachurs Alpine Solution.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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