A01919 | Pages: 190 | Feb 2022 | 20237 Views | ||
Author(s) : Nitesh Chouhan, Himanshu Vig , Roshan Deshmukh | Tables: 161 | Charts: 63 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The global liquid fertilizers market size was valued at $12,569.5 million in 2020, and is projected to reach $19,207.4 million by 2031, registering a CAGR of 3.5% from 2022 to 2031. Liquid fertilizers provide the required nutrients to plants at a specific time and in varied conditions. These fertilizers are expected to be absorbed by plants through leaf pores and roots. They are rich in growth hormones and micronutrients, hence, are widely used to grow crops, such as maize. They appear to act in the form of a catalyst, increasing a plant’s nutrient intake. Liquid fertilizers help in the rapid establishment of seedlings and an early growth in plants. Moreover, in the coming years, more food may be required to feed the growing human population; this highlights the importance of agriculture as it is the only means of mass food production for humans. Land is limited and the scope of bringing new lands under agriculture is less. On the contrary, available land for agriculture has decreased due to urbanization, soil erosion, and pollution. The only possible means to produce enough food for everyone is by increasing the yield per area of land. This is possible only by the judicious use of fertilizers coupled with other progressive farming techniques.
With an unprecedented COVID-19 pandemic, the liquid fertilizers market has been minimally affected during the pandemic. The governments of all the countries have taken steps to ensure fertilizers are available to the farmers during the pandemic. Moreover, the delays and disruptions at country borders have impacted the transportation and delivery of liquid fertilizers globally. Furthermore, less availability of labor and raw material due to global lockdown and curfew practices have restricted the growth of the market.
The emerging markets of Asia-Pacific, Latin America, and Africa provide immense growth opportunities for the liquid fertilizers industry. Countries such as India, China, Brazil, and Argentina have become ideal destinations for global fertilizer companies to establish manufacturing plants. Low labor costs and flexible government regulations are the main reasons for the emergence of these regions on the world fertilizer map. Many of these developing countries, such as India, are still agro-based economies i.e., the significant amount of share in the GDP is from the agriculture sector. Hence, it is becoming highly investment opportunity for international fertilizer companies. Technological advancements duet this demand is expected to further increase the application scope of liquid fertilizers in the food industry. However, excessive use of fertilizers causes soil pollution and water pollution; the chemicals can even easily seep down into the water table. This polluted water eventually mixes with natural streams and lakes. Pollutants include high levels of NPK, heavy metals, and other micronutrients which are required by plants. One of the visible effects of such pollution is eutrophication, which is caused due to high levels of phosphates and nitrates. The growth in concern for the environment and increased awareness among farmers to adopt sustainable farming practices may limit the liquid fertilizers market growth.
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The global liquid fertilizers market is segmented based on type, production process, mode of application, crop, and geography. Based on type, it is divided into potassium, micronutrients, phosphate, and nitrogen. Based on production process, it is bifurcated into organic and synthetic. Based on application, the liquid fertilizers market is categorized into soil, fertigation, foliar, and others (aerial & starter solutions). Based on crop, it is classified into oil seeds & pulses, fruits & vegetables, grains & cereals, and others. By region, the liquid fertilizers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on type, the liquid fertilizers market is categorized intopotassium, micronutrients, phosphate, and nitrogen. Nitrogen segment constitute a major liquid fertilizers market share; however, the micronutrients segment is projected to experience growth at the highest CAGR during theliquid fertilizers market forecast period.
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Based on production process, the liquid fertilizers market is divided into organic and synthetic.Organic segment leads in terms of market share and is expected to continue to grow with robust CAGR during the forecast period. Organic fertilizers are derived from animal matter, animal excreta, and vegetable matter (like crop residue). These fertilizers not only supply nutrients to the plant however also help in building & maintaining a rich soil ecosystem of earthworms and other micro organisms; they have very little environmental effects, unlike synthetic fertilizers.
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On the basis of application, the liquid fertilizers market is categorized into soil, fertigation, foliar, and others. The fertigation segment held the major share in the market, and is projected to remain dominant during the forecast period.
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Based on crop, it is classified into oil seeds & pulses, fruits & vegetables, grains & cereals, and others.Grains & cereals segment constitute a major liquid fertilizers market share; however, the fruits & vegetables segment is projected to experience growth at the highest CAGR during the liquid fertilizers market forecast period.
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Key market players in this liquid fertilizers market are Agrium Incorporated, AgroLiquid, Haifa Chemicals Ltd., Israel Chemical Ltd. (ICL), Kugler Company, Rural Liquid Fertilizers (RLF), Yara International ASA, Compo Expert GmbH, and K+S Aktiengesellschaft.
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Covid-19 Impact Analysis
Key Benefits For Stakeholders
Key Market Segments
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Liquid fertilizers are preferred over conventional fertilizers as they possess the ability to mix rapidly with the soil, thereby increasing crop yields. Moreover, the nitrogen segment accounted for the highest market share in 2020, due to the degradation of soil quality, which causes micronutrient deficiency in crops.
Liquid fertilizers have gained popularity in the recent years, owing to surge in application, leading to three to four fold increase in crop production. In addition, rise in hydroponic system field areas and easy availability of fertilizers at lower & subsidized rates encourage the farmers to effectively use liquid fertilizer sprayers. Moreover, globalization drives the mergers and acquisitions of the world’s leading producers, as they have increasingly focused their efforts on selling their products to fast-growing developing countries. Collaborations and acquisitions are the key strategies followed by market players to sustain in the intense competitive industry.
The Asia-Pacific liquid fertilizers market offers lucrative opportunities for key manufacturers, owing to growth of agriculture industry to cater to the growth in food demands. In addition, the fruits & vegetables crop segment is expected to exhibit high potential due to continuous technological advancements and raised demands. Furthermore, investment initiatives by the government and private manufacturers surge development activities and new product developments, thus boosting the market growth.
A. The global liquid fertilizers market size was valued at $12,569.5 million in 2020, and is projected to reach $19,207.4 million by 2031, registering a CAGR of 3.5% from 2022 to 2031.
A. The CAGR of Liquid Fertilizers Market is 3.5% from 2022 to 2031.
A. Kindly raise an inquiry on the portal and our salesperson will get in touch with you with available purchase options.
A. 2020 is the base year calculated in the Liquid Fertilizers Market report.
A. The top companies in the Liquid Fertilizers Market are Agrium Incorporated, AgroLiquid, Haifa Chemicals Ltd., Israel Chemical Ltd. (ICL), Kugler Company, Rural Liquid Fertilizers (RLF), Yara International ASA, Compo Expert GmbH, and K+S Aktiengesellschaft..
A. The global liquid fertilizers market is segmented based on type, production process, mode of application, crop, and geography.
A. Advancement in technology and raising government support in developing regions are the key trends in the Liquid Fertilizers Market report
A. Asia-Pacific region holds the maximum market share of the Liquid Fertilizers Market .
A. The Covid-19 pandemic has minimal impact on the Liquid Fertilizers Market in 2022.
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