The global liquid fertilizers market accounted for a value of USD 10.1 billion in 2019. The fertilizers market is projected to grow at a CAGR of 3.9% during the forecast period.
COVID-19 has impacted several businesses over the globe. The fertilizers market is estimated to experience a minimal impact due to corona virus outbreak. The major barriers for fertilizers market was travel restrictions. Due to lockdown and mobility restriction the import was significantly affected all over the world. There was no significant impact on prices, operations and supply within the countries.
For more details, visit: Global Liquid Fertilizers Market By Type (Micronutrient, Phosphorous, others), By Crop Type (Fruits & Vegetables, Cereals & Grains, Others), By Application (Soil, Foliar, Others), By Region–Forecast & Opportunities to 2026
Liquid fertilizers are widely used to provide nutrients to crops and plant in an efficient way at the right amount and at the right time with minimum wastage. Farmers preferred liquid fertilizers for its enhanced applications. Thus, drives growth in liquid fertilizers market during forecast period.
On the basis of type, the liquid fertilizers market is segmented into potash, micronutrient, nitrogen and phosphorous. The nitrogen segment is estimated to hold highest market share during the forecast period. Nitrogen is considered to be the most widely used nutrients for plants growth around the world. It helps in building amino acids which further produces proteins in plants and participate in all biochemical reactions in plants. Liquid nitrogen helps in maintaining adequate amount of nitrogen in soil and that’s why farmers prefer this most commonly. Thus, drives growth during forecast period.
On the basis of crop type, the liquid fertilizers market is segmented into fruits & vegetables, cereals & grains, oilseeds & pulses and other. The fruits & vegetables segment is estimated to hold largest market share during forecast period. The fruits & vegetables are widely consumed segment around the world. The increasing consumption leads to rise in huge demand which drives the segment to witness growth in near future. China is considered to be the largest fruits and vegetables of producer around the world. The exports of fruits and vegetables are also immensely increasing.
On the basis of mode of application, the liquid fertilizers market is segmented into soil, fertigation, foliar and others. The fertigation segment is expected to register growth at highest CAGR during the forecast period. fertigation includes fertilizer and water application by irrigation. This helps in minimizing pollution and maximizing yield. The application of fertilizers is efficient and uniform through this process. It also requires less time, energy, water and labor. The fertigation is reliable and efficient which is likely to drive growth in this segment during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during the forecast period. Asia-pacific is a large scale producer of crops such as rice, sugar beet, cereals, grains, fruits and vegetables. The Asian countries such as Japan, Vietnam, China and Korea consume large scale fertilizers for growing crops. The demand for liquid fertilizers is growing immensely in this region which drives growth in Asia-pacific region during the forecast period.
The key market players in liquid fertilizers market are K+S Aktiengesellschaft, Yara International ASA, Agrium Inc., Israel Chemical Ltd., Sociedad Quimica YMinera SA, Haifa Chemicals Ltd., Compo Expert GmbH, Agro Liquid, Kugler Company, Plant Food Company Inc., Rural Liquid fertilizer, Plant food Company Inc., Nutri Tech Solutions, Nutrien, Fox Far Soil and Fertilizer Company.
- What are the expected industry trends over the next three to five years?
- Which of the liquid fertilizers type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?