, September 17, 2018 ) The Starter fertilizer
is a small amount of nutritious fertilizer placed near the seed, usually at the time of planting. Starter fertilizers stimulate the development of seedlings by providing essential nutrients. These fertilizers are intended to strengthen the roots of a plant at an early stage. Phosphorus, potassium and nitrogen are the key nutrient components of an initial fertilizer. Phosphorus is primarily used to promote vigorous root growth. Initial fertilizers have traditionally been recommended for fields without phosphorus. The initial fertilizers are very beneficial for corn crops. Food crops do not react to initial fertilizers in the same way as maize crops. Initial fertilizers have generally been used in corn production in fields with cold soil temperatures, so nutrients can be easily accessible until the soil condition improves.
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In the year 2018, the Global Starter fertilizers market was valued at USD 7.18 Billion, by the year 2023 it is expected to reach USD 8.75 Billion with 4.04% CAGR.
Drivers and Restraints:
Rise in applicability of starter fertilizers, rise in expenditure in R&D, increased land under turf grasses, rise in population, and technological advancements, adoption of new farming practices are some of the factors driving the market. Restraints of the market are lack of adequate knowledge, ever growing concerns for environmental degradation.
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Geographically, the Starter fertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. North America led the Starter fertilizers market across the globe with its largest share in the market. This is due to the improved technologies in fertilizer application to enhance the production of cereals, food & vegetables. Asia-Pacific is the fastest growing market in Starter fertilizers market due to its huge customer base. Countries like India and China are adopting starter fertilizers at a rapid pace.
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Major companies in the 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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