Starter Fertilizers Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

February 15, 2024

Starter Fertilizers Market

The global starter fertilizers market size was evaluated at $8.31 billion in 2022 and is slated to hit $12.91 billion by the end of 2030 with a CAGR of nearly 5.66% between 2023 and 2030.

Global Starter Fertilizers Market: Overview

Starter fertilizers are used in small quantity, it is placed near the seed at the time of planting. They enhance 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 key nutrient components present in the starter fertilizer. Phosphorous leads to the vigorous growth of the plant roots. It is widely used to maintain the phosphorous content in various crops and is especially beneficial for the corn crops. Starter fertilizers are used in cornfield production under cool soil temperatures.

Global Starter Fertilizers Market: Growth Factors

Major growth factors of the starter fertilizers market are improved applicability of starter fertilizers, increased area under forage & turf grasses, and rise in expenditure in R&D by the starter fertilizer manufacturers. Untapped regions across the world will show higher growth opportunities in the coming years. However, limited uses of starter fertilizer in the crop production are major restraints of the starter fertilizers market.

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Global Starter Fertilizers Market: Segmentation

The starter fertilizers market is segregated on the basis of application, crop type, and nutrient component type. The application segment is classified into fertigation, in-furrow, and foliar. Based on crop type, the market is classified into fruits & vegetables, cereals, and forage & turf grasses. The cereals segment accounted for the largest market share owing to the significant demand for cereals worldwide. The fruits & vegetables are following the same. Nutrient component type is segregated into potassium, phosphorus, micronutrient, and nitrogen.

Global Starter Fertilizers Market: Regional Analysis

Geographically, the starter fertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the dominating market for starter fertilizers; it is expected to continue its growth in the coming years. The U.S. is a potential market for starter fertilizers and it accounted for a prominent share. Europe is prominently adopting improved fertilizer technologies for the enhanced production of vegetable crops, fruits, and cereals. The U.K., France, Germany, Spain, and Italy these European countries are heavily adopting advanced fertilizer products, this may give rise to the market growth. Asia Pacific is expected to expand at a rapid pace due to the presence of large consumer base in the region. It contributed to the largest market share owing to the high adoption rate of starter fertilizer products in agriculture. Japan and Australia, are looking forward to the expansions of starter fertilizer market to cater to the needs of farmers. China and India are key producers of vegetable crops, fruits, and cereals, thus witnessing a significant market growth in future.