Latin America Starter Fertilizers Market was worth $1.25 billion in 2021 and estimated to be growing at a CAGR of 7.2 %, to reach 2.45 billion by 2026. 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 that have phosphorous in small quantities. Phosphorous is the major component in Starter fertilizers followed by Nitrogen and Potassium. Boron and chlorine are present as micronutrients. Advanced Technologies which improve the Soil conditions by reconditioning the soil structure and drainage and tilth of soil are being introduced in the market.
Drivers and Restraints of Latin America Starter Fertilizers Market:
With the 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, the Starter fertilizer market has boomed due as it results in high-yielding crops. All these factors are driving the growth of the Starter Fertilizers market. However, Cost fluctuations in handling and storage of fertilizers and problems in the supply cycle are some of the factors which restrain the growth rate of the market.
Latin America Starter Fertilizers Market – By Crop Type:
Cereals dominate the Starter fertilizers market in this segment because most of the application of Starter fertilizers is in cereal production.
Latin America Starter Fertilizers Market – By Nutrient Component:
Phosphorous helps in the vigorous growth of roots and also the main component of starter fertilizers. Phosphorous holds the largest market share in this segment.
Latin America Starter Fertilizers Market – By Application:
The foliar method holds the largest share in this segment due to the enhancement of nutrient intake.
Latin America Starter Fertilizers Market – By Form:
Both of these forms hold the market share equally.
The countries in the Latin American market include
Latin America is one of the steadily growing markets for the Starter fertilizers market. Brazil is 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 global 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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