The latest report by IMARC, titled “Liquid Fertilizers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global liquid fertilizers market size reached US$ 13.87 Billion in 2021. Liquid fertilizers refer to fluids containing plant nutrients to improve the quantity or quality of plant growth. They are manufactured by combining numerous chemicals, including ammonium nitrate, aqueous ammonia, ammonia nitrate, urea, and potassium salts, with water and other soluble phosphates. They provide plants with growth hormones, oxygen, and micronutrients that assist in uniform application, enhance crop production, and optimize nutrient uptake. Nowadays, they are generally available in synthetic and organic forms in the market. In recent years, liquid fertilizers have gained momentum due to their widespread adoption by farmers to evenly cover grass pastures, multiple crops, and foliar.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect effect of the associated industries. These observations will be further integrated into the report.
Global Liquid Fertilizers Market Trends:
One of the primary factors driving the market is the exponential growth in the agriculture sector. Additionally, the growing population is leading to a surge in demand for more food grains and cereals. this has accelerated the adoption of liquid fertilizers to improve soil and plant health and ensure mass food production. Besides this, crop nutrition is of utmost importance in both food and commercial crops due to the rising environmental and economic considerations. As a result, farmers are increasingly opting for organic liquid fertilizers as they improve soil structure, help microbes thrive, avoid plant damage, and reduce the detrimental effects of pesticides. Moreover, the introduction of economical polymer-coated-urea (PCU) and urea inhibitors fertilizers to protect against ammonia and volatilization by enabling their movement into the soil during irrigation and rainfall is strengthening the market growth. Other growth-inducing factors include extensive research and development (R&D) activities and strategic collaborations amongst key players. Looking forward, IMARC Group expects the market value to reach US$ 17.06 Billion by 2027, expanding at a CAGR of 3.40% during the forecast period (2022-2027).
- Based on the type, the market has been divided into nitrogen, phosphorus, potash, and micronutrients.
- On the basis of the production processes, the market has been bifurcated into organic ad synthetic.
- Based on the crop, the market has been segmented into gains and cereals, fruits and vegetables, oils and pulses, and others.
- On the basis of the application, the market has been categorized into soil, fertigation, foliar, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being AgroLiquid, COMPO Expert GmbH (Grupa Azoty S.A.), Haifa Group, ICL Group Ltd., K+S Aktiengesellschaft, Kugler Company, Nutrien Ltd., Nutri-Tech Solutions Pty Ltd., Plant Food Company Inc., Tessenderlo Group and Yara International ASA.
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