Middle East and Africa Liquid Fertilizers Market was worth $1.13 billion in 2021 and estimated to be growing at a CAGR of 3.16%, to reach $1.320 billion by 2026.
The reduction in soil quality has thrusted 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 as the depletion of soil quality is leading to micronutrient deficit in the crops worldwide. This deficiency of micronutrients in the soil has driven the practice of employing liquid fertilizers.
Drivers and Restraints:
The growth of the Middle East and Africa 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 in this region.
The Nitrogen segment is the largest segment, in Nutrient Type, whereas the micronutrients segment is anticipated to grow at the highest CAGR during the forecast period.
Under this segment, the organic liquid fertilizers are projected to grow at a faster speed than the synthetic fertilizers.
The foliar application of liquid fertilizers is the most frequently used technique as it aids in counterbalancing soil conditions and augmenting plant growth.
Grains and cereals lead the market for Liquid Fertilizers, whereas the fruits & vegetables segment is anticipated to grow at the highest CAGR during the forecast period.
The market has been geographically segmented into Middle East and Africa. The fertilizer market in this region is developed considerably with a number of big companies. Among the leaders of the market are countries such as South Africa, Saudi Arabia, Israel, United Arab Emirates, Egypt, and Nigeria. Local companies have implemented several strategies to expand their presence and boost their market shares.
The market is categorized by the existence of diversified international and national companies, where the global retailers lead the market and are predicted to grow exponentially by securing regional or local players. These retailers pose a tough test for the small vendors in terms of price, accessibility, and variability.
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