The global citrus crop nutrition market value is projected to reach US$ 902.2 million in 2023 and US$ 1,526.5 million by the end of 2033. Over the assessment period, worldwide demand for citrus crop nutrition products is predicted to surge at a 5.4% CAGR.
Several factors are expected to drive global citrus crop nutrition growth. These include rising demand for citrus fruits, especially from the food & beverages, pharmaceutical, and cosmetic sectors, growing adoption of precision farming, and increasing emphasis on improving crop productivity.
People worldwide are becoming aware of the potential health benefits of citrus fruits such as oranges and lemons. As a result, they are consuming these fruits on large scales, which is expected to provide impetus for the expansion of the citrus crop nutrition market.
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The rising need for improving citrus crop quality and yield is heightening the demand for nutritional supplements in orchards and citrus tree plantation yards. Farmers are using different citrus crop nutrition products to increase their crop yield and quality. This will likely boost the target market.
The advantages of higher yield, lower production costs, and soil degradation prevention are expected to popularize crop nutrition products. Further, surging consumer demand for sustainable food with an expanding global population could also play a notable role in bolstering sales of citrus crop nutrients.
The growing trend for organic fertilizers and the strictness of the laws governing agricultural chemicals could affect the overall market performance. Concerns about micronutrient sustainability are also giving way to the development of eco-friendly substitutes that could limit the sales of citrus crop nutrition to a certain degree.
Key Takeaways from the Citrus Crop Nutrition Market Study Report
- The global citrus crop nutrition market is expected to reach US$ 1,526.5 million in 2033.
- Based on nutrient type, the micronutrients segment is poised to witness robust growth through 2033.
- The United States held about 22% of the global market share in 2022.
- Demand for citrus crop nutrients in the United Kingdom is projected to rise at a 6.2% CAGR through 2033.
- China is expected to register a CAGR of 6.4% from 2023 to 2033.
- Sales in India are projected to soar at 5.8% CAGR through 2033.
“The demand for citrus crop nutrients in Western countries has stagnated with the reduction of farming activities and saturation of the market after the entry of new players. Hence, businesses have a greater opportunity to expand their market size outside national borders due to the rising demand for micronutrients in emerging economies,” Nandini Roy Choudhury, Client Partner at Future Market Insights
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Competitive Landscape
Though the greater fertilizer market is highly competitive, there are a handful of players operating in the market for specific macro and micro-nutrients for plants. In the forecast period, greater awareness regarding several supplementary advantages of using formulations for citrus plant health is anticipated to drive the market.
Key players are concentrating on introducing novel formulations to meet growing end-user demand. They are also adopting strategies such as mergers, alliances, collaborations, acquisitions, and partnerships to expand their footprint.
Recent Developments in the Citrus Crop Nutrition Business-
- MAX-IN Ultra ZMB Plus product line was recently released by WinField United, which is a Canada-based agro-tech business. This new product is a novel foliar micronutrient formulation that combines a high-load combination of zinc, manganese, and boron into one practical and efficient solution. The main advantage of this crop nutrient solution is that it improves the overall quality of the soil by providing all the necessary micronutrients at once.
- In mid-2021, Fertiláqua Inc., a well-known Brazil-based specialized fertilizer manufacturer, was acquired by ICL Group of Industries. In line with ICL’s strategy, the acquisition was aimed at taking advantage of Fertiláqua’s robust distribution network and market position in the quickly expanding Brazilian farm sector.
Key Companies Profiled
- The Mosaic Company
- Yara International
- Nutrien
- Eurochem Group
- Haifa Group
- ICL Group
- Compass Minerals
- Helena Agri-Enterprises
- Wilbur-Ellis
- Brandt
- K+S KALI
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Key Segments Covered by Citrus Crop Nutrition Market Survey Report
By Product Type:
- Fertilizers
- Soil Conditioners
- Specialized Nutrient Solutions
- Other Product Types
By Nutrient Type:
- Micro-nutrients
- Macro-nutrients
By Application:
- Fertigation
- Follar Spray
- Soil Amendments
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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