Market Size – USD 2.43 Billion in 2020, Market Growth – at a CAGR of 4.5%, Market Trends –Increasing trend of consuming fresh fruits and vegetables globally
The global Liquid Fertilizers Market size is expected to reach USD 3.42 Billion by 2028 at a CAGR of 4.5%, according to a new report by Reports and Data. Liquid fertilizers are naturally or synthetically derived substances, supplying nutrients that are necessary for promoting plants growth. These substances enhance the soil’s effectiveness through modifying its aeration and water retention capacity. Essential micronutrients including iron, copper, zinc, manganese, and other macronutrients such as phosphate, nitrogen, and potassium are incorporated to the crops or soil directly in the form of liquid fertilizers to improve crop yield.
Growing demand for liquid fertilizers among farmers is fostering the industry growth. Increasing focus on modern agricultural practices, and rapid shift towards the latest technology are encouraging the industry growth. Furthermore, shift towards natural growth promoters in plants/crops is further driving the sector. In addition to that, liquid fertilizer’s contribution to the overall production of crops and food security has a significant impact on the market expansion.
Asia Pacific region is predicted to have a steadfast growth in the analysis period due to development activities and rapid economic growth in the region. With robust population base in APAC, the demand for food is rising unprecedentedly and the farmers or producers are compelled to broaden their agricultural output from the limited accessible land.
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Lack of awareness regarding the modern farming techniques and fertilizers’ application in accurate proportions among farmers is one of the major factors restraining the overall industry growth. Moreover, the adverse effects related to the utilization of synthetic liquid fertilizers on farmer health and environment is further obstructing the industry dynamics.
Further key findings in the report
- Soaring demand for efficient and effective fertilizers, fast adoption of modern and sustainable agricultural practices, ease in application, and enhanced environmental safety are propelling the market’s growth.
- There is an elevating demand for food around the globe, despite the limited access to arable land, which has resulted in the rising application of different types of highly efficient fertilizers, such as liquid fertilizers, in agriculture or cultivation of crops. The contribution of such fertilizers to the overall food security and yield of crops is significant.
- The highest adoption of liquid fertilizers has been observed in North America. As per the International Fertilizer Industry Association (IFA), in terms of application of liquid fertilizers, anhydrous ammonia registered a larger share of 77%, followed by urea ammonium nitrate (UAN) solutions, with the share of 18%.
- Major players in the industry include Sociedad Química y Minera de Chile (SQM) (Chile), Nutrien, Ltd. (Canada), The Mosaic Company (US), EuroChem Group (Switzerland), Yara International ASA (Norway), K+S Aktiengesellschaft (Germany), and Israel Chemical Ltd. (Israel).
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For the purpose of this report, Reports and Data has segmented the global liquid fertilizers market on the basis of product type, crop type, major compounds, application, and region:
Crop Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Cereals & Grains
- Others (sorghum, barley, and oats)
- Oilseeds & Pulses
- Others (canola, cotton, and sunflower)
- Fruits & Vegetables
- Others (turf, ornamentals, and nursery plants)
Major Compounds Outlook (Revenue, USD Billion, 2018 – 2028)
- Calcium Ammonium Nitrate (CAN)
- Urea-Ammonium Nitrate (UAN)
- Potassium Nitrate
- Phosphorus Pentoxide (P205)
- Others (boron, chloride, and iron)
Application Outlook (Revenue, USD Billion, 2018 – 2028)
- Agricultural fields
- Others (starter solutions and aerial applications)
Type Outlook (Revenue, USD Billion, 2018 – 2028)
Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of Africa
Table of content:
Chapter 1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Liquid Fertilizer, By Category
1.1.2. Global Liquid Fertilizer, By Type
1.1.3. Global Liquid Fertilizer, Crop Type
1.1.4. Global Liquid Fertilizer, By Mode of Application
1.1.5. Global Liquid Fertilizer, By Region
CHAPTER 2. MARKET INTRODUCTION
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Macro Factor Indicator Analysis
CHAPTER 3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
CHAPTER 4. MARKET DYNAMICS
4.2.1. Driver 1
4.2.2. Driver 2
4.3.1. Restraint 1
4.3.2. Restraint 2
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