According to a new research report by Global Market Insights Inc., the global Liquid Fertilizers Market size is estimated to surpass USD 27 billion by 2027.
Liquid fertilizers are the most technically advanced and newest products that provide nutrients to crops. Growing food security concerns are bolstering the demand for highly efficient fertilizers across the globe over the years. As the market is expanding, companies in the global liquid fertilizers market are focusing on increasing their footprints in new regions and improving their product quality.
Increased demand for highly efficient fertilizers, the adoption of sustainable agricultural practices, ease of application, and increased environmental safety are fueling the global liquid fertilizers market growth. However, limited supplies, logistics issues, high operating costs, and strict government regulations limit the potential growth of the market. Covid-19 has minimal impact on the fertilizer industry compared to other sectors. However, the prices associated with liquid fertilizers increased, especially in June 2020.
The liquid fertilizers market is experiencing an emerging trend in the form of large-scale adoption of organic liquid fertilizers. Rising awareness about advantages of organic foods and development of new liquid organic fertilizers are driving market growth. In addition, the market is witnessing a huge increase in agricultural activities that are underway during the projected timeframe. They offer growth opportunities to major industries operating in these areas.
Browse key industry insights spread across 206 pages with 242 market data tables & 31 figures & charts from the report, “Liquid Fertilizers Market By Type (Nitrogen, Micronutrients, Potassium, Phosphate), By Mode of Application (Soil, Fertigation, Foliar, Others), By Production Process (Organic, Inorganic), Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
The nitrogen liquid fertilizer segment will boost market demand
Based on type, the nitrogen segment is likely to showcase a CAGR of 3.6% by 2027. Nitrogen plays an important role in increasing yields. The crop yield is directly related to the nitrogen available, but the nitrogen cycle is complex. It can be difficult to keep the right amount of nitrogen available for the crop. Therefore, agronomists have developed several products to solve nitrogen deficiencies and support vegetative growth at different stages, thus increasing yields. Liquid nitrogen fertilizers are easy to mix and apply well with crop protection products so growers can more easily monitor and manage nitrogen in the soil. Such trends will bolster the segment growth.
The foliar application is anticipated to generate a revenue of over USD 12 billion by 2027 at a CAGR of 4%. One of the efficient ways to deliver nutrients to the crops is through foliar application with liquid fertilizers. The absorption of nutrients in plants is faster with foliar feeding as it mitigates many common problems that cause nutrient loss in the soil. Several liquid fertilizers are used as foliar feedings through foliar sprays as they have more micronutrients when applied on the stoma of the plant and stimulate crop growth at critical times. This factor is likely to propel product demand in the coming years.
In terms of production process, organic fertilizer is likely to showcase a CAGR of around 6% by 2027. Organic fertilizers are generally safe to use and are not concentrated than inorganic fertilizers. Organic fertilizers are ecologically and environmentally safe & non-toxic. In addition, the growing middle-class population has increased the demand for quality food. To meet the growing demand, many farmers are turning to organic farming. This factor will certainly increase the market share of organic fertilizers.
Asia Pacific dominates the global market
Asia Pacific will experience a positive demand for the liquid fertilizer market. Asia Pacific is traditionally the largest market with around 46% volumetric share in the global market in 2020. Due to factors such as growing concerns about the current pattern of liquid fertilizer used, heavy reliance on liquid nitrogen fertilizers, lack of complementary inputs, poor nutrition management, declining soil fertility, and weak marketing & distribution systems make it more than necessary to improve the efficiency of liquid fertilizers in the region.
The global liquid fertilizers market is slightly fragmented with various manufacturers producing a wide range of fluid fertilizer products. Nutrien Ltd., Haifa Chemical, Yara International, Agro Liquid, EuroChem Group, OCI Nitrogen, and K+S Aktiengesellschaft are major market players while smaller companies, such as Rural Liquid Fertilizers and NutriTech Solutions, also engaged in research for development of new products.