Liquid Fertilizers Market Data And Industry Growth Analysis | Stratistics Market Research Consulting Liquid Fertilizers Market size is expected to grow from US $ 12,405.33 MN in 2020 to US $ 18,050.88 MN by 2028, at a CAGR of 4.8%.The market report “Liquid Fertilizers Market by Crop Types (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf & Ornamentals, Commercial Crops, Forage, Nursery plant and Others Crop Types), Major Compunds Urea-Ammonium Nitrate (Uan), Diammonium Phosphate (Dap), Calcium Ammonium Nitrate (Can), Monoammonium Phosphate (Map), Potassium Nitrate, Phosphorus Pentoxide (P205) and Other Major Compounds), Type of Fertilizers (Single-Nutrient, Micro-Nutrient and Multi-Nutrient Fertilizer), Sources (Synthetic and Organic), and Region – Forecast to 2028”. The liquid fertilizers market is growing at a CAGR of 4.8% by 2028, owing to the rising demand for improved high-efficiency fertilizers.
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Based on crop type the fruits & vegetables segment is estimated to grow at highest CAGR segment during the study period.On the basis of crop type the market is categorised into cereals & grains, oilseeds & pulses, fruits & vegetables, turf & ornamentals, commercial crops, forage, nursery plant, and others crop types. Fruits & Vegetables are estimated to be the fastest-growing market segment strongly driven by the growing exports of fruits & vegetables have also led to an upsurge in the crop plantation area, which has caused a rise in their production levels. Therefore, the crop protection chemicals market for fruits & vegetables is anticipated to propel the market growth.
Based on application, the fertigation segment is anticipated to grow faster during the forecast period.On the basis of application, the market is segmented into soil, foliar, surface broadcast, band application, fertigation, injection into the soil, direct soil, and other applications. The Fertigation segment is projected to grow faster during the forecast period owing to the fast acceptance of water supply systems worldwide. Additionally, fertigation is vastly used in different varieties of crop fields, such as ornamental, fruit, flowering, horticultural, vegetable, and row.
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, and Middle East & Africa. Europe is experiencing a dominant position in the liquid fertilizers market. This is mainly attributed by the growing trend of protein-based diet amongst huge consumer base. For harvesting protein-rich crops, nitrogen-based liquid fertilizers are vastly useful by the farmers in Europe, which is generating the industry growth over the estimated period.
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The key 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 Fertilizers Market is majorly driven by the adoption of accuracy farming, endangered agriculture & rapid growth in greenhouse vegetable production and growth in demand for improved high-efficiency fertilizers. The nitrogen segment is growing at a highest CAGR as nitrogen is one of the most-extensively consumed nutrients among all the macro and microelements essential for plant growth. North America dominated with a significant market share due to the factors such as rising demand of high fertilizers, limited arable land and implementation of precision farming and protected agriculture. Asia Pacific market is growing at a highest CAGR owing to the poor nutrition management, heavy reliance on nitrogenous liquid fertilizer, and lack of complementary inputs there is an amplified need to advance liquid fertilizer's effectiveness in the province.
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