Liquid Fertilizers Market Overview
The Global Market for Liquid Fertilizers is expected to continue its growth over the forecast period due to rising food consumption globally and increasing population as well as growing economy, support from the government to maximize the agriculture production. Since liquid fertilizers market’s growth is directly proportional to the scope of innovation due to highly competitive market, key players are investing in R&D for innovating product lines. Moreover, leading players are also investing in partnership with various agriculture associations and industrial bodies as the primary focus area to grow the consumer base.
The Global Liquid Fertilizer Market is projected to grow at a significant rate of 4.2% from 2019 to 2024 to reach a market value of USD 13.25 billion by the end of 2024. Liquid fertilizers are edible substances, which are used to boost the crop production as plants are easily able to absorb these and can offer faster outcomes. Liquid fertilizers are an active way of providing the essential nutrients to plants at the right time and in ideal concentration. Liquid fertilizers are rich in growth hormones and micronutrients. It is experiencing a high demand because of its nutritional as well as extra micro nutritional attributes and rising meat consumption globally. High nutritional benefits obtained from liquid fertilizers are also supporting the sale of liquid fertilizers globally.
Increasing number of consumers in developed as well as developing economies is one of the driving forces for this market. Some of the key players are also investing in R&D for development of new product lines with improved formulations. Many consumers consume products involving liquid fertilizers in fruits & vegetables, cereals & grains, and others. They provide health benefits as well as nutritional benefits by offering some extra micronutrients, thus increasing the market for liquid fertilizers.
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The major competitors in this market are inclined to increase their footprints across the globe by acquiring local and regional players. Apart from this, the companies are introducing their products in the developing economies to penetrate the untapped market. Major players are also investing in R&D initiatives especially to develop superior & highest quality products by including organic and natural ingredients. This factor is likely to help them to penetrate the emerging global liquid fertilizers market and fulfill the growing demand. Changing consumer preferences for natural and fresh products will support the sale of liquid fertilizers in Asia Pacific region.
Liquid Fertilizers Market Key Players
This report includes the study of strategies such as mergers and acquisitions, new product launches by the major liquid fertilizers market players. It further includes product portfolios, developments of leading major players, which includes
- Yara International ASA (Norway)
- Agrium Inc. (Canada)
- Israel Chemical Ltd. (Israel)
- Sociedad Quimica YMinera SA (SQM) (Chile)
- Haifa Chemicals Ltd. (Israel)
- Compo Expert GmbH (Germany)
- AgroLiquid (US)
- Kugler Company (US)
- Plant Food Company, Inc. (US)
- Rural Liquid Fertilizer (Thailand)
Asia Pacific dominates the Liquid Fertilizer Market because of its increasing population as well as growing economy. Key manufacturers are focusing on expanding their product lines by providing various product lines with the various flavors, combinations, and attractive packaging.
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Liquid Fertilizers Market Regional Analysis
The global liquid fertilizers market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, the Asia Pacific region accounts for major market share followed by North America. The growing demand for liquid fertilizers in Asia Pacific, due to increasing population, growing economy, support from the government to maximize the agriculture production to meet the food demands, will drive the growth of the market in this region during the forecasting period. In North America, there is significant share of liquid fertilizers as well as due to huge demand, will drive the growth of the market in this region. However, in Asia Pacific region, mainly emerging economies including China, and India, is estimated to witness maximum growth in the global liquid fertilizers market over the forecast period 2017-2023.
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