Liquid Fertilizers Market

Liquid Fertilizers Market Size & Growth 2022 - 2027:

  was worth USD 13.99 billion in 2021 and estimated to be growing at a CAGR of 3.62%, to reach USD 16.71 billion by 2026.

The reduction in soil quality has thrust the use of liquid fertilizers that assists farmers to boost their crop return by three to four times. Moreover, there is also an increase in the demand for the proper utilization of fertilizers since the depletion of soil quality leads to a micronutrient deficit in crops. This deficiency of micronutrients in the soil has driven the practice of employing liquid fertilizers.

Market Drivers:

The growth of the Liquid Fertilizers market is majorly driven by factors such as rising demand for high-efficiency fertilizers, easy accessibility, and implementation of precision farming. However, factors such as limitations in the supply chain, growing apprehensions over health and environmental degradation, and the high costs involved in handling and storage are restraining the growth of the market.

REPORT COVERAGE:

Liquid Fertilizers Market Segmentation:

Liquid Fertilizers Market - By Nutrient Type:

• Potassium
• Micronutrients
• Phosphate
• and Nitrogen

The Nitrogen segment is the largest segment, by Nutrient Type, whereas the micronutrients segment is anticipated to grow at the highest CAGR during the forecast period.

Liquid Fertilizers Market - By Form:

• Organic and Synthetic

Under this segment, organic liquid fertilizers are projected to grow at a faster speed than synthetic fertilizers.

Liquid Fertilizers Market - By Mode of Application:

• ​​​​​​​Soil
• Fertigation
• Foliar
• and Others

The foliar application of liquid fertilizers is the most frequently used technique as it aids in counterbalancing soil conditions and augmenting plant growth.

Liquid Fertilizers Market - By Crop Type:

• ​​​​​​​Oilseeds
• Fruits & Vegetables
• Grains & Cereals
• and Others

By Crop type, Grains and cereals lead the global market for Liquid Fertilizers, whereas the fruits & vegetable segment is anticipated to grow at the highest CAGR during the forecast period.

The Market is Geographically divided into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

The Asia Pacific has been leading the global Liquid Fertilizers market and is also the fastest-growing market due to its growing population, rising economy and widespread support from the government and other organizations to maximize agricultural production to meet food requirements. North America is the second major consumer of Liquid Fertilizers, followed by Europe and Latin America.

Key Players:

• Haifa Chemicals Ltd
• Kugler Company
• Yara International ASA
• Israel Chemicals Ltd
• Agrium Inc
• Sociedad Quimica Y Minera SA (SQM)

The market is categorized by the existence of diversified international and national companies, where global retailers lead the market and are predicted to grow exponentially by securing regional or local players. These retailers pose a tough test for small vendors in terms of price, accessibility, and variability.