The Global Fertigation and Chemigation Market Size is estimated to be valued at USD 34.1 billion in 2018 and will register a CAGR of 5.9% between 2017 and 2028.
Despite being capital intensive, fertigation and chemigation market holds lucrative revenue opportunity for industry players. The Industry is driven by various factors – most prominent of them being wide scale hydroponics farming practices and increased crop production yield. Hydroponics concept is gaining traction in urbanized countries with scarce arable land. Nearly 85% of hydroponics based farming is dependent on fertigation process. Next, fertigation ensures proper distribution of water and soluble fertilizers – leading to higher productive yield. Also, fertigation doesn’t requires large sets of agricultural equipment and pumps. As such operational cost reduces to a greater extent.
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Bekryl’s market research report, Global Fertigation and Chemigation Market Size Analysis and Industry Opportunity, finds Western Europe to account for 30% of global sales in 2018. Over 130 million hectares of land is fertilized area in EU, of which arable crops account for nearly 66% of total area. It is expected that NPK for cereals will increase by 4% between 2017 and 2028 – creating lucrative market opportunity for associated industry players. CAP 2014 – 2020 along with climate change is expected to fuel the demand for fertigation and chemigation process in the region.
Some key trends from the global Fertigation and Chemigation market:
Trend#1: Increased Industry Consolidation
Global Fertigation and chemigation market is highly fragmented with presence of large number of regional players. The industry holds high market opportunity. As such, various companies are strategically implementing inorganic strategies to strengthen their business presence. As a part of inorganic growth, few leading companies are opting for mergers and acquisition. For instance, in 2017, Mexichem entered definitive agreement to acquire 80% stakes of Netafim. Acquisition will help Mexichem to establish its presence in micro-irrigation and thus generate high ROI.
Another leading company – Jain Irrigation acquired U.S. based Agri Valley Irrigation Inc. and Irrigation Design and Construction Inc. for US$ 48.5 million in January 2018. The acquisition will help Jain Irrigation Systems to supply advanced agricultural technology irrigation solutions to prospective clients.
Trend#2: Asia Pacific to Take over Western Europe by 2022
Microirrigation and hydroponics is witnessing fastest growth in Asia Pacific. Moreover, there has been notable shift in adoption of newer technologies for higher crop yield in the region. As such, it is expected that the region will take over Western Europe by 2022. The region will account for 29% of global fertigation and chemigation equipment share by 2022. The region will be dominated by China accounting for 58% regional share. China irrigated farmlands produces nearly 75% of grain and over 85% of cash crops. The country is emphasizing on adoption of water saving technologies that can significantly reduce irrigation water dependency. It is expected that over 18 million hectares of land will adopt water saving based farming by 2030 in China. As such, China fertigation and chemigation will register double digit growth rate.
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Some key global Fertigation and Chemigation Market Players are Jain Irrigation Systems Ltd., EPC Industrie Limited, The Toro Company, Valmont Industries Inc., Rain Bird Corporation, Lindsay Corporation, Netafim, Nelson Irrigation Corporation, T-L Irrigation Co. and Rivulis Irrigation.
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