Liquid Fertilizers Market to Hit USD 19.87 Billion By 2030
Acumen Research and Consulting
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Global Liquid Fertilizers market size in 2021 was USD 14.55 billion, market value to grow to USD 19.87 billion by 2030 at 3.7% CAGR as per Acumen Research and Consulting
Liquid Fertilizers Market: An Overview
Liquid fertilizers are an essential component of modern agriculture as they provide essential nutrients to crops to promote their growth. These fertilizers are applied to crops in liquid form, either through foliar application or soil drench. Liquid fertilizers are gaining popularity among farmers due to their advantages over traditional granular fertilizers. They are easy to apply, provide quick results, and can be customized for specific crops and soils.
Applications of Liquid Fertilizers
Liquid fertilizers are widely used in various applications, including turf and ornamental crops, fruits and vegetables, field crops, and greenhouse crops. The demand for liquid fertilizers is increasing in the horticulture industry as they provide quick results and are easy to apply. The use of liquid fertilizers in the field crops sector is also increasing as they are more efficient and cost-effective compared to traditional granular fertilizers.
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Market Segmentation
The liquid fertilizers market is segmented based on product type, application, and region. Based on product type, the market is divided into foliar fertilizers, soil fertilizers, and fertilizers for specialty crops. The foliar fertilizers segment holds a significant market share due to their quick results and high efficiency. Based on application, the market is segmented into turf and ornamental crops, fruits and vegetables, field crops, and greenhouse crops. The fruits and vegetables segment is expected to grow at a significant rate due to the increasing demand for organic and fresh produce.
Market Dynamics
Increasing demand for organic food: The demand for organic food is increasing globally, leading to an increased demand for organic fertilizers, including liquid fertilizers.
Growing demand for high-yield crops: With the increasing demand for food due to population growth, farmers are looking for ways to increase crop yield, leading to an increased demand for efficient fertilizers, including liquid fertilizers.
Technological advancements: The development of new liquid fertilizer products and application techniques is driving the market growth.
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Market Challenges
Stringent regulations: The use of fertilizers is regulated by various government agencies, which impose strict regulations on the use of fertilizers, including liquid fertilizers.
High cost: The cost of liquid fertilizers is higher compared to traditional granular fertilizers, which is a major challenge for the market growth.
Lack of awareness: In some regions, farmers are still not aware of the benefits of using liquid fertilizers, which is hindering the market growth.
Market Regional Overview
The liquid fertilizers market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is the largest market for liquid fertilizers due to the high demand for food in the region and the increasing adoption of modern agriculture practices. North America is also a significant market due to the increasing demand for organic food and the adoption of sustainable agriculture practices.
Market Players
Yara International ASA The Mosaic Company Nutrien Ltd. EuroChem Group AG Haifa Group FMC Corporation Agrium Inc. (acquired by Nutrien Ltd.) K+S Group AG COMPO & Co. KG Isagro S.p.A. Wilbur-Ellis Company DKSH
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