Liquid Fertilizer Market Outlook
Market Research Future (MRFR) expects the liquid fertilizer market to continue soaring at a rate of 4.2% between 2020 and 2027. The market value by the end of 2027 will touch USD 13.25 billion, says MRFR.
Growth Drivers and Deterrents
Extensive use of liquid fertilizers ensures that plants and crops get nutrients in amounts needed at the right place as well as time, with lower wastage. Enhanced efficiency fertilizers/EEF are utilized significantly in the agriculture sector in numerous fields including industrial crops and cereals, in view of the rising emergence of various urease inhibitors and cheap-priced polymer coating technologies. Enhanced efficiency fertilizers’ expanding applications in bringing down the negative effects of nutrients on water reservoirs also foster their demand in the global market.
Developing countries such as India and Mexico are rapidly adopting advanced precision farming methods to bolster agricultural yield. Precision farming basically means managing the soil quality as well as crop growth using remote sensing, electronic equipment, computer models, and accurate record-keeping. Precision farming primarily focuses on monitoring the soil quality by monitoring the nitrates, moisture as week as electrical conductivity, and is mostly practiced in locations with expensive labor is expensive. Precision farming helps curb crop wastage, boost average yield, and elevates crop and soil quality. As a result, precision farming is projected to be the top trend in the liquid fertilizers market in the years to come.
The exploding population across the globe has translated into significant food demand as well, which is leading to higher uptake of fertilizers. But concerns regarding pollution as well as soil contamination along with the toxic effects on the environment and humans have risen at the same time. To address these negative effects, governments emphasize on the utilization of fertilizers with lesser side effects on the soil, which ultimately sheds light on the significance of liquid fertilizers. Also, with more and more farmers growing aware of these types of fertilizers, especially in China and India, backed by manufacturers and NGOs educating them about their potential benefits, favors the global industry.
Segmental Review
The liquid fertilizer industry can be categorized with respect to a category, type, crop type, and mode of application.
The liquid fertilizer categories specified in the report are organic as well as synthetic. Organic liquid fertilizers are witnessing higher demand than synthetic ones, as these have no side effects on the soil.
The liquid fertilizer types available in the global industry include phosphate, potassium, nitrogen, and others.
The major crop types are oilseeds & pulses, fruits & vegetables, cereals & grains, and others.
The applications of liquid fertilizers are fertigation, foliar, soil, and others.
Regional Outlook
The liquid fertilizers industry is regionally segmented into North America, the Middle East & Africa Europe, along with APAC or the Asia Pacific.
The biggest market size belongs to the Asia Pacific, wherein the demand for the liquid fertilizer market has been escalating at a stunning pace, in view of the booming population and the soaring food demand. These factors have been responsible for the incredible growth in the number of agricultural activities. Farmers in the region are increasingly using fertilizers in crop farming to foster their yields and given the mounting awareness among them regarding liquid fertilizers, the APAC market is deemed to perform even better in the coming years. Governments' strong support for the agriculture industry across India and China, has lifted the market position for liquid fertilizers as well.
The European market for liquid fertilizers should soar at the fastest rate between 2020 and 2027, considering the emerging trend of consuming protein-based foods among consumers. Producing high-yielding crops with high protein content, nitrogen-based liquid fertilizers happen to be the top choice among the farmers and can mean incredible market growth in the next few years.
Top key players
Yara International ASA (Norway), Agrium Inc. (Canada), Israel Chemical Ltd. (Israel), FoxFar Soil and Fertilizer Company (US), K+S AKTIENGESELLSCHAFT (Germany), Compo Expert GmbH (Germany), AgroLiquid (US), Kugler Company (US), Plant Food Company, Inc. (US), Haifa Chemicals Ltd. (Israel), Plant Food Company, Inc (US), Nutri-Tech Solutions (Australia), Nutrien (Canada), Sociedad Quimica YMinera SA (SQM) (Chile), Rural Liquid Fertilizer (Thailand), are the top brands in the liquid fertilizers industry.
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Latest News Updates
Compass Minerals, a renowned developer of essential minerals, has introduced its latest Hydro Bullet, a liquid foliar fertilizer range that fosters the agronomic potential of the plants. This new range consists of various research-based nutrient combinations that foster certain agronomic needs backed by targeted nutritional benefits. Hydro Bullet formulations offer plants with in-season nutrition during crucial growth stages for a higher vigor as well as performance.
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