Global Liquid Fertilizer Market Expected to Reach MN $ 18,050.88 by Forecast Year 2028
Analysis of Liquid Fertilizer Market Data and Industry Growth | Consulting in market research in strategy »
The liquid fertilizer market size is expected to grow from US $ 12,405.33 in 2020 to US $ 18,050.88 in 2028, at a CAGR of 4.8%.
The market report ‘Liquid Fertilizers Market by Crop Types (Cereals and Grains, Oilseeds and Legumes, Fruits and Vegetables, Sod and Ornamental Plants, Cash Crops, Forages, Nursery Plants and Other Crop Types), Major Compounds, Nitrate ammonium urea (Uan), diammonium phosphate (Dap), calcium ammonium nitrate (Can), monoammonium phosphate (Map), potassium nitrate, phosphorus pentoxide (P205) and other major compounds), type d ‘fertilizers (single nutrient, micro-nutrient and multi-nutrient fertilizer), sources (synthetic and organic) and region – forecast until 2028 ”. The liquid fertilizer market is growing at a CAGR of 4.8% by 2028, owing to the increasing demand for improved high efficiency fertilizers.
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Based on the type of crop, the fruit and vegetable segment is expected to grow at the highest CAGR segment during the study period. Based on crop type, the market is categorized into grains and grains, oilseeds and pulses, fruits and vegetables, turf and ornamentals, commercial crops, forages, nursery plants and other types of crops. Fruits and vegetables are estimated to be the fastest growing market segment, strongly driven by the growth of fruit and vegetable exports, which has also led to an upsurge in agricultural plantations, resulting in an increase in their levels. of production. Hence, the fruit and vegetable crop protection chemicals market is expected to propel the market growth.
Based on the application, the fertirrigation segment is expected to grow faster during the forecast period. On the basis of application, the market is segmented into soil, foliar, surface diffusion, band application, fertirrigation, soil injection, direct soil, and other applications. The Fertigation segment is expected to grow faster during the forecast period due to the rapid acceptance of water supply systems around the world. In addition, fertigation is widely used in different varieties of cultivated fields, such as ornamental, fruit, flower, horticultural, market garden and row fields.
By geography, Europe is expected to dominate the market. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East, and Africa. Europe enjoys a dominant position in the liquid fertilizer market. This is mainly attributed to the growing trend of protein diets among a large consumer base. For harvesting high protein crops, liquid nitrogen fertilizers are very useful for European farmers, which generates the growth of the industry during the estimated period.
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The main players in this market are Agrium Inc, Yara International ASA, Agroliquid Compo Expert GmbH, FoxFar Soil And Fertilizer Company, Haifa Chemicals Ltd. Israel Chemical Ltd. (ICL), Kugler Company, Nutrien, Nutri-Tech Solutions, Plant Food Company, Inc, Rural Liquid Fertilizer, Sociedad Química Y Minera De Chile (SQM) and The Mosaic Company.
The global liquid fertilizer market is primarily driven by the adoption of precision agriculture, endangered agriculture, and rapid growth in greenhouse vegetable production and growth in demand for improved high efficiency fertilizers. The nitrogen segment grows at the highest CAGR because nitrogen is one of the most consumed nutrients among all macro and microelements essential for plant growth. North America has dominated with a large market share due to factors such as increasing demand for high fertilizers, limited arable land, and implementation of precision agriculture and protected agriculture. Asia-Pacific market is growing at the highest CAGR due to poor nutrition management, heavy reliance on liquid nitrogen fertilizers and lack of complementary inputs, there is a magnified need to advance the efficiency of liquid fertilizers in the province.
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