Liquid Fertilizers Market

Global Liquid Fertilizers Market Size (2023 to 2028)

The size of the global liquid fertilizers market is expected to grow to USD 15.02 billion in 2021 and is estimated to be growing at a CAGR of 3.62% to reach USD 17.95 billion by 2028.

Global Liquid Fertilizers Market Share Insights:

• Based on nutrients, the nitrogen segment was the largest segment in the global market in 2022.
• Based on form, the organic segment led the global market in 2022.
• Based on region, the Asia-Pacific region accounted for the major share of the global market in 2022.

The reduction in soil quality has thrust the use of liquid fertilizers that assist farmers in boosting 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.

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:

This research report on the global liquid fertilizers market has been segmented and sub-segmented into the following categories.

Liquid Fertilizers Market - By Nutrient Type:

• Potassium
• Micronutrients
• Phosphate
• Nitrogen

The Nitrogen segment is the largest segment by nutrient type, whereas the micronutrient segment is anticipated to grow at the highest CAGR during the forecast period.

Liquid Fertilizers Market - By Form:

• Organic
• Synthetic

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

Liquid Fertilizers Market - By Application:

• Soil
• Fertigation
• Foliar
• 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.

Liquid Fertilizer Market – By Region:

• 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 Market Players:

Haifa Chemicals Ltd, Kugler Company, Yara International ASA, Israel Chemicals Ltd, Agrium Inc, and Sociedad Quimica Y Minera SA (SQM) are playing a dominating role in the liquid fertilizers market. 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.