Liquid Fertilizers Market Analysis

Liquid Fertilizers Market Analysis

Micronutrients are expected to showcase significant growth and generate over USD 2 billion in revenue by 2027 owing to the growing awareness about the usage of micronutrients to enhance crop development. Liquid micronutrients offer several advantages to users such as clean & easy to apply, increase yield & product quality, and reduce leaching loss & volatility, among others.
 

Furthermore, in several cold areas and the spring season most micronutrients are virtually unavailable in the soil. The usage of liquid fertilizers during the seeding period enables farmers to effectively correct the micronutrient deficiency in the soil. Additionally, the development of new micronutrient product portfolios along with the grant to develop innovative liquid micronutrient fertilizers in universities is expected to drive the growth of liquid fertilizers market segment.
 

Based on the mode of application, the liquid fertilizers market has been divided into soil, fertigation, foliar, and others. Fertigation application generated around 35% volumetric share in 2020. Fertigation techniques are widely used in farming practices as they save resources and time by combining two events at a time including fertilization and irrigation.
 

In the fertigation technique, fluid fertilizers are efficiently distributed to the crop’s root and limit the wastage of products. Additionally, the development of advanced administration systems will efficiently handle the agricultural land under the fertigation process and minimize operating costs with efficient usage of liquid fertilizers.
 

The inorganic production process segment dominated the market with around USD 15.8 billion revenue in 2020 and is slated to surpass USD 26,662.6 million by 2027. A wide range of product availability along with the commercialization of a large number of NPK fertilizers is expected to drive segment growth over the forecast timeframe. The availability of a wide range of inorganic fertilizers along with the commercialization of several products will support market growth. Furthermore, several manufactures in the market, such as Nutrien, Ltd., Haifa Group, and EuroChem Group, among others, are expanding their production facilities and product portfolios.
 

The North America liquid fertilizers market is slated to exceed USD 6 billion in revenue by 2027 and will showcase a growth rate of around 2.4% CAGR from 2021 to 2027. The presence of a wide range of fertilizer manufacturers in the region along with the establishment of new production facilities and distribution channels will drive market growth over the forecast timeframe. Furthermore, the growing demand for liquid organic fertilizers in the region due to rising awareness about the usage of organic fluid fertilizers and rising demand for high-value products will support market growth.