The Global Liquid Fertilizer Market is projected to grow at a significant rate of 4.2% from 2019 to 2024 to reach a market value of USD 13.25 billion by the end of 2024. Fertilizers are a chemical or natural substance which is added to the soil or land so as to increase fertility. Liquid fertilizers are substances used, to boost the crop production as plants are easily able to absorb these and can offer faster outcomes. Liquid fertilizers is an active way of providing the essential nutrients to plants at the right time and in ideal concentration. They can be absorbed by plants through their leaf pores and roots.
The global Liquid Fertilizers Industry is growing due to increasing population as well as increasing demand for food. With the growing consumer awareness and support from government to maximize the agriculture production, the demand for liquid fertilizers has increased recently. In addition to the increasing population, the growing demand for food, rise in the crop production, increasing soil efficiency, growing economy, increasing demand for bio-fuels and high quality yield are expected to drive the liquid fertilizers market.
Some of the key players in the liquid fertilizers market: Compo Expert GmbH (Germany), Kugler Company (U.S.), Yara International ASA (Norway), Agroliquid (U.S.), Agrium Inc. (Canada), Israel Chemical Ltd. (ICL) (Israel), Haifa Chemicals Ltd. (Israel)
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The global liquid fertilizers market is segmented on the basis of product type, such as nitrogen, phosphorus, potash, and micronutrients. Among these, micronutrients is the high growth segment in this market owing to metabolic reactions in all crops as well as growth.
On the basis of crop, this market is segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Fruits & vegetables is the high growth segment in the liquid fertilizers market due to technological advancements as well as its growing demand.
The global liquid fertilizers market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, the Asia Pacific region accounts for major market share followed by North America. The growing demand for liquid fertilizers in Asia Pacific, due to increasing population, growing economy, support from the government to maximize the agriculture production to meet the food demands, will drive the growth of the market in this region during the forecasting period. In North America, there is significant share of liquid fertilizers as well as due to huge demand, will drive the growth of the market in this region. However, in Asia Pacific region, mainly emerging economies including China, and India, are estimated to witness a maximum growth in the global liquid fertilizers market over the forecast period 2017-2023.
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