BEIJING, July 07, 2022 (GLOBE NEWSWIRE) — The Global Liquid Fertilizers Market size was accounted for USD 14,556 Million in 2021 and is expected to reach the value of USD 19,873 Million by 2030, at a CAGR of 3.7% from 2022 to 2030.
Liquid fertilizer has grown in popularity in recent years, and it is an excellent choice for farmers. Liquid fertilizers can penetrate the soil and spread more uniformly, providing fields with an even, consistent coating that ensures all plants receive the same nutrients irrespective of the location. The application of liquid fertilizer is simple, and it is worked into the soil in more consistent ways. One advantage of liquid fertilizer is that it penetrates the soil quickly, allowing plants to access nutrients more quickly. Some plants will witness results almost immediately from this application. The liquid fertilizers industry analysis shows that it will grow at a CAGR of more than 3% between 2022 and 2030.
Impact of COVID-19 pandemic on Global Liquid Fertilizers Market
The global crisis caused by the COVID-19 pandemic has had a negative impact on the majority of industries in various countries. Import-export restrictions, which caused delays and cancellations at country borders, also had a negative impact on the global fertilizer industry. Restrictions on the movement of goods and people posed numerous challenges to the agri-food supply chain. For example, as stated on June 26, 2020, in Farm Progress, the reliable agriculture news source, China is the world’s largest fertilizer consumer, and the Chinese lockdown has severely impacted fertilizer production due to labor shortages. Furthermore, the difficulties encountered by liquid fertilizer exporters are likely to persist for the foreseeable future, as various states and governments all around the world attempt to combat COVID-19 with various measures. As a result, the liquid fertilizer market value suffered greatly during the pandemic.
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|Market||Liquid Fertilizers Market|
|Market Size 2021||USD 14,556 Million|
|Market Forecast 2030||USD 19,873 Million|
|CAGR During 2022 – 2030||3.7%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Crop Type, By Type, By Production Process, By Application,
And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||AgroLiquid, Agrium Incorporated, Compo Expert GmbH, Israel Chemical Ltd. (ICL),
Haifa Chemicals Ltd., K+S AG, Nutrien, Ltd., Rural Liquid Fertilizers (RLF),
Kugler Company, Yara International ASA.
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling,
|Customization Scope||10 hrs of free customization and expert consultation|
Liquid Fertilizers Market Dynamics
The rising population, particularly in developing countries such as India, is expected to boost the liquid fertilizers market share. Fertilizers help crops grow because they play an important role in increasing crop productivity by improving soil fertility. Food demand has increased as the world’s population has grown.
The use of liquid fertilizers should be optimal and regulated, as excessive fertilizer use causes pollution. This is regarded as a significant liquid fertilizer market trend that is fueling demand. Nitrogen-based fertilizers, for example, encourage plant growth. Excessive use of nitrogen-based fertilizers, on the other hand, is hazardous because it is toxic to animals, humans, plants, and water bodies.
Organic fertilizers are becoming increasingly popular because they improve soil nutrients, water retention capacity, and soil structure. Organic fertilizers are made from natural plant leftovers and trash, microorganisms, animal manures and excreta, and botanical extracts to increase agricultural productivity. These factors are likely to boost the liquid fertilizers market revenue. Furthermore, various government initiatives, such as financial incentives to encourage the use of organic fertilizers, are expected to generate significant growth opportunities for the market in the coming years.
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Worldwide Liquid Fertilizers Market Segmentation
The global liquid fertilizers market has been segmented into crop type, type, production process, application, and region. The market is divided into oilseeds and pulses, fruit and vegetables, cereals and grains, and others based on crop type. The cereals and grains segment had the highest share in 2021. Meanwhile, the fruits and vegetable segment is expected to grow significantly over the forecast period.
By type, the market is divided into nitrogen, phosphorous, micronutrients, and others. In 2021, the nitrogen segment accounted for a significant market share. The production process is divided into organic and inorganic segments. According to our findings, the organic segment dominated the market for liquid fertilizers. Furthermore, the application segment is segregated into foliar, fertigation, soil, and others. The fertigation application will dominate the entire segment during the forecasted years 2022 to 2030. Also, fertigation is likely to attain a substantial growth rate in the coming years.
Liquid Fertilizers Market Regional Overview
The global liquid fertilizers market regional outlook is given as North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. The Asia-Pacific region is the most important in the liquid fertilizer industry. The Asia-Pacific region’s demand for liquid fertilizers is being driven primarily by rising food demand, high crop yields, and advancements in automated irrigation systems. China has the largest share in the region, while Australia is expected to grow the fastest in the coming years.
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Liquid Fertilizers Market Players
Some liquid fertilizers companies covered globally include Agro Liquid, Agrium Incorporated, Compo Expert GmbH, Israel Chemical Ltd. (ICL), Haifa Chemicals Ltd., K+S AG, Nutrien, Ltd., Rural Liquid Fertilizers (RLF), Kugler Company, Yara International ASA.
In March 2021 – ICL announced the acquisition of Compass Minerals America do Sul SA, a liquid fertilizer producing company. It also announced the acquisition of Compass Minerals’ South American Plant Nutrition business. Thus, ICL is expanding its business through acquisitions, which is beneficial for the industry growth.
Similarly, in September 2019 – Nutrien, Ltd. expanded internationally with the acquisition of Ruralco Holdings Limited (Ruralco) in Australia. Nutrien’s position will be strengthened as a result of this acquisition, and it will now be able to offer significant benefits to its shareholders while also improving the delivery of its products and services to Australian farmers.
Browse More Research Topic on Fertilizers:
The Global Specialty Fertilizers Market is anticipated to grow at a CAGR of around 7.1% during the forecast period 2020 to 2027 and to reach around USD 41.8 Billion by 2027.
The Global Nitrogenous Fertilizers Market is expected to reach the market value of around USD 128 Billion by 2027 and is anticipated to grow at a CAGR of around 3% in terms of revenue during the forecast period 2020 – 2027.
The Global Sulfuric Acid Market accounted for USD 11,395 Million in 2020 and is expected to reach USD 14,282 Million by 2028 with a considerable CAGR of 2.9% during the forecast period of 2021 to 2028.
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