Liquid Fertilizers Market Is Projected to Expand At A CAGR Of 4.2% Between 2024 And 2032. Organic farming is growing at a rapid pace in the agriculture industry. The organic liquid fertilizer proves to be beneficial as it provides broad and quick effects on crops by acting as a catalyst that enhances plant nutrient intake. Liquid fertilizer is a reliable source of nutrients for various crops such as organic fruits and vegetables, cereals and grains, and other food crops. Production of liquid fertilizer does not involve the use of chemicals, thus leading to a reduced risk of soil contamination. In addition, liquid fertilizers can be mixed with water and are easily applied through the irrigation system as well as sprayed on the forage. This ease of using factor is contributing to the growth of the liquid fertilizers market.
Growing need for high-efficiency fertilizers leading to improved crop yields, ease of application of these fertilizers on fields, and adoption of precision farming, are some of the major driving factors for the market. In addition, the growing use of liquid fertilizers to recover soil fertility and increased crop production per unit of arable area is a significant factor leading to market growth. Currently, liquid fertilizers are witnessing surging demand as an alternative to inorganic fertilizers. It enhances soil fertility by restoring the nutrients of degraded soil owing to the presence of macro and micro nutrients essential for the growth of the vegetable crop. Growing demand for liquid fertilizers due to the rising need for increased agricultural output to cater to global food requirements is another key aspect leading to market growth.
Global liquid fertilizer market is segmented by type into nitrogen, phosphorus, potash, and micronutrients. Nitrogen segment witnessed major market potential in 2017, as nitrogen fertilizers such as UAN/CAN (urea ammonium nitrate and calcium ammonium nitrate) acts as excellent top dressing fertilizer. Also, the presence of calcium/ammonium content and organic material increase the utilization grade of nitrogen in crops leading to improved cereal production and irrigated cultivation of plant. Also, nitrogen being a key nutrient to overall plant health and fundamental component of enzymes, provides essential plant and leaf growth lead to improved seed and fruit production.
Based on the mode of application, the market is categorized into soil, foliar, fertigation and others (aerial and starter solutions). Foliar mode of application is witnessing significant growth as it neutralizes soil by increased rate of nutrient absorption as compared to other methods of application.
Based on production process, organic segment dominated the overall market in 2017. Rising demand for organic food across the globe owing to increasing health concerns is one of the prominent factor for the market development. Adoption of sustainable agricultural practices by the farmers due to mitigate the environmental concerns by the use of synthetic fertilizers is another factor fueling the overall market.
Fruits and vegetables segment is estimated to grow at a rapid pace over the forecast period. Consumers tend to expect quality in various fruits and vegetables such that they look perfect and taste good. This compels farmers to grow crops that are pest and disease free along with high content of minerals and complex sugars which in turn surges the growth of global liquid fertilizers market.
In 2024, globally, Asia Pacific market is expected to surge rapidly during the forecast period owing to mass governmental support to enhance the overall agricultural production to meet the rising food demands occurring due to population explosion. Availability of limited arable land majorly in regions of Sub Saharan Africa, South East Asia, etc., has further led to increase in demand for liquid fertilizers in the regions of Africa and Asia Pacific.
Market Dynamics
Driver: Growth in demand for enhanced high-efficiency fertilizers
Restraint: High handling costs
Opportunity: New emerging economies
Challenge: Unfavorable regulatory standards
Key players across the Liquid Fertilizer Market value chain are:
Nutrien, Ltd., Yara International ASA, Israel Chemical Ltd., K+S Aktiengesellschaft, Sociedad Química y Minera de Chile (SQM) (Chile), The Mosaic Company, EuroChem Group and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Liquid Fertilizers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
