Liquid fertilizers Market Size to Reach Around USD 3.65 billion by 2029: Exactitude Consultancy
Liquid fertilizers Market
The global liquid fertilizers market is expected to grow at 5% CAGR from 2022 to 2029. It is expected to reach above USD 3.65 billion by 2029
LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 29, 2023 /EINPresswire.com/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Liquid fertilizers Market.
The increased demand for high-value items such as fresh fruits, nuts, vegetables, and coffee is accelerating; yet, climate change significantly impacts crop development. Farmers may increase crop yield and profitability by using greenhouses, valuable irrigation systems, and highly effective fertilizers. Furthermore, increased food security awareness and the expanding population of emerging nations such as India, Brazil, and Indonesia, among others, are expected to promote demand for highly efficient fluid fertilizers throughout the forecast period.
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Market Players:
Nutrien Ltd, Yara International ASA, Israel Chemical Ltd, K+S Aktiengesellschaft, Sociedad Quimica y Minera de Chile (SQM), The Mosaic Company, EuroChem Group, Haifa Group, CF Industries Holdings Inc, ICL Fertilizers, IFFCO, Nortex, Agrium Incorporated, AgroLiquid, Compo Expert Gmbh, Rural Liquid Fertilizers, Kugler Company, among others.
The ever-rising focus on food security amidst rapidly growing population has nudge authorities to turn their attention towards sustainable solutions that doesn’t threaten their long-term strategic interests. Global demand for food is fuelling the demand for nitrogen, phosphorus, potassium, and combined NPK liquid fertilizers. A number of factors, including population growth, loss of crops due to nutrient scarcity within them, escalating demand for high-value crops, and changing consumer diet due to increasing prosperity in emerging economies, continue to have a positive effect on demand. Overall, this spells an attractive outlook for liquid fertilizers industry. The ease of application and use and increasing adoption of precision farming is fuelling the demand of liquid fertilizers.
Top Market Opportunities:
Liquid fertilizers offer required nutrients to the plants on specific time along with varied conditions. Liquid fertilizers are predicted to be absorbed by plants or trees through their roots and leaf pores. They are rich in micronutrients and growth hormones; henceforth, are immensely used in growing crops, for example maize. They act as a catalyst that increases a plant’s nutrient intake capacity. Liquid fertilizers also help in the rapid formation of seedlings as well as support early growth of plants. Moreover, during the forthcoming years, rising human population expected to surge the demand for larger quantity of food; this highlights the significance of agriculture and farming as it is the only way to produce food in mass quantity for humans. Land is limited now and the scope of generating new land areas for farming is also negligible.
The synthetic liquid fertilizers are predicted to hold prominent share in the global liquid fertilizers market. The high adoption of synthetic liquid fertilizers is predicted to remain a major driving factor for synthetic liquid fertilizers market growth. The tremendously increasing population along with rising demand for food is forcing growers to utilize most efficient fertilizers to ensure optimum yield which is expected to boost the sale of synthetic liquid fertilizers. Moreover, the increasing adoption of organic fertilizers is fuelling the production of organic liquid fertilizers.
The Asia-Pacific region has been the most important market, accounting for 39% of the worldwide market. The rising expense of traditional fertilizers and their negative environmental implications have resulted in a dramatic growth in the use of high-efficiency fertilizers in agriculture, such as liquid potassium fertilizers. Rising food consumption, high crop yields, and advancements in automated irrigation systems are fueling Asia-Pacific’s demand for liquid fertilizers. Due to extraordinary economic growth, population growth, and support from governments and international and national associations to boost agricultural production of fruits, oil, grains, and vegetables to meet the region’s demand for food products, Asia-Pacific is the largest and fastest-growing market for liquid fertilizers.
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Liquid fertilizers Market News
• In September 2019, Nutrien, Ltd. acquired Ruralco Holdings Limited (Ruralco) in Australia. Through this acquisition, Nutrien would be able to provide significant benefits to its stakeholders, as well as enhance the delivery of its products and services to the Australian farmers.
• In June 2019, EuroChem Group expanded its fertilizer production facility by opening a third new fertilizer blending plant in Brazil. This production center was a new 27,000 m2 facility at Araguari in Minas Gerais, which was another step in the continued expansion of EuroChem’s subsidiary, Fertilizantes Tocantins (FTO). It is a major fertilizer distribution business in Brazil.
• In February 2018, Haifa Group expanded its presence in China by opening a subsidiary named Haifa Beijing Trading Company in China. This subsidiary would significantly help in expanding its offerings to the developing Chinese agricultural sector by providing the best plant nutrition solutions for the benefits of the Chinese growers.
• In March 2019, Yara International ASA launched Yaralix, a tool for precision farming, allowing the farmers to measure crop nitrogen requirements using their smartphones. The system consisted of a free-to-download-app that was designed to use the smartphone camera to determine nitrogen requirements for different crops in the early growth stages.
• In May 2018, Yara International ASA acquired Vale Cubatão Fertilizantes (Brazil), which has strengthened the company’s position in terms of Brazil’s nitrogen production assets, along with the fertilizer and industrial sectors in the region.
Liquid Fertilizers Market Key Market Segments
Liquid Fertilizers Market by Type, 2022-2029, (USD Billion), (Kilotons)
• Nitrogen
• Phosphorus
• Micronutrients
Liquid Fertilizers Market by Mode of Application, 2022-2029, (USD Billion), (Kilotons)
• Soil
• Foliar
• Fertigation
Liquid Fertilizers Market by Major Compounds, 2022-2029, (USD Billion), (Kilotons)
• CAN
• UAN
• MAP
• DAP
• Potassium Nitrate
Liquid Fertilizers Market by Crop Type, 2022-2029, (USD Billion), (Kilotons)
• Cereals & Grains
• Oilseed & Pulses
• Fruits & Vegetables
Liquid Fertilizers Market by Production Process, 2022-2029, (USD Billion), (Kilotons)
• Organic
• Inorganic
Liquid Fertilizers Market by End-User Industry, 2022-2029, (USD Billion), (Kilotons)
• Agriculture
• Fertilizers
• Agrochemicals
Liquid Fertilizers Market by Region, 2022-2029, (USD Billion), (Kilotons)
• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa
Important Countries in All Regions Are Covered.
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Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
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- Historical, current, and projected market size, in terms of value
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