(Food-Beverage-News.Com, October 11, 2017 ) According to the report “Latin America Starter Fertilizers Market By Nutrient Component (Nitrogen, Phosphorous, Potassium And Micro Nutrients) By Form (Dry And Liquid) By Crop Type (Cereals, Fruits & Vegetables, Forage & Turf Grasses) By Method Of Application (In-Furrow, Fertigation, Foliar And Other Methods) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Latin America Starter Fertilizers Market was worth $0.8 billion in 2016 and estimated to be growing at a CAGR of 7%, to reach USD 1.12 billion by 2021.
Starter fertilizers are placed in small amounts in proximity to the seeds while planting. They provide essential nutrients that improve the growth of budding seeds. Plant roots are strengthened at an early stage due to phosphorous which is a key component of starter fertilizers.
Starter Fertilizers are essentially recommended for soils which have phosphorous in small quantities. Phosphorous is the major component in Starter fertilizers followed by Nitrogen and Potassium. Boron and chlorine are present as micro nutrients. Advanced Technologies which improve the Soil conditions by reconditioning the soil structure and drainage and tilth of soil are being introduced in the market.
With rapid increase in population, the demand for new farming practices and technologies to improve the yield and quality of crops has increased. To serve the increasing food requirements, Starter fertilizer market has boomed due as it results in high yielding crops. All these factors are driving the growth of Starter Fertilizers market. However, Cost fluctuations in handling and storage of fertilizers and problems in supply cycle are some of the factors which restrain the growth rate of the market.
On the basis of crop type, the Starter fertilizers market is segmented into Cereals, Fruits & vegetables and Forage & turf grasses. Cereals dominate the Starter fertilizers market in this segment because most of the application of Starter fertilizers is in cereal production. On the basis of Nutrient component, Starter fertilizers market is segmented into Phosphorous, Nitrogen, Potassium and Micronutrients. Phosphorous helps in rigorous growth of roots and also the main component of starter fertilizers. Phosphorous holds the largest market share in this segment.
The Latin America Starter fertilizers market is segmented into In-furrow, Fertigation, Foliar and other methods based on the application. Foliar method holds the largest share in this segment due to the enhancement of nutrient intake. Starter fertilizers market is segmented into dry and liquid on the basis of form. Both of these forms hold the market share equally. The countries in the Latin America market include Brazil, Argentina, Mexico and remaining countries of South America. Latin America is one of the steadily growing markets for Starter fertilizers market. Brazil being one of the highly populated countries is predicted to lead the market in the given forecast period.
Some of the key market players operating in the Latin America starter fertilizers market are Stoller USA Inc., The Scotts Miracle-Gro Company, Conklin Company Partners Inc., Yara International ASA, CHS Inc., Agrium Inc., Helena Chemical Company, Miller Seed Company and Nachurs Alpine Solution
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