The global liquid fertilizers market size is expected to reach USD 3.42 Billion by 2028 at a CAGR of 4.5%, according to a new report by Reports and Data. Liquid fertilizers are innovative and technically advanced products aid in supplying nutrients to crops. The global demand for improving food security has influenced the need for efficient fertilizers in the field of farming or agriculture.
With the increasing population globally, there is an enormous need for food, which is further augmenting the demand for more production of fruits & vegetables, cereals & grains, and oilseeds & pulses. To increase the crops yield, liquid fertilizers have become a preferred product among farmers, which is contributing to the growth of the sector. Various government schemes to promote different agricultural activities is further encouraging the market’s expansion.
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Further key findings in the report
- Nitrogen is predicted to hold a sizeable market share among other sub-segments, such as potassium, phosphate, and other micronutrients. Balanced amount of nitrogen growth stimulants is recommended on packaging labels for protecting crop sensitivity, fostering demand for product in the market.
- Based on application, fruits & vegetable sub-segment is predicted to occupy the largest industry share during the estimated time frame. Surging adoption of enhanced productivity comprising the nutritional value of soil to yield germfree and healthy fruits & vegetables is fueling the industry size.
- Asia Pacific is foreseen to be the fastest-growing sector because of the rapid expansion of regional agricultural activities. Growing concerns over seasonal farming in different countries are likely to raise the demand for enhanced crop fertility. Moreover, increasing regional population, along with rising demand for food consumption is substantially propelling the market penetration for liquid fertilizer.
- Leading vendors operating in the industry are Yara International ASA (Norway), Nutrien, Ltd. (Canada), The Mosaic Company (US), Israel Chemical Ltd. (Israel), K+S Aktiengesellschaft (Germany), EuroChem Group (Switzerland), and Sociedad Química y Minera de Chile (SQM) (Chile).
The COVID-19 impact Analysis: The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for Liquid Fertilizers Market is expected to rise in the coming years.
Application Outlook (Revenue, USD Billion, 2018 – 2028)
- Agricultural fields
- Others (starter solutions and aerial applications)
Type Outlook (Revenue, USD Billion, 2018 – 2028)
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Liquid Fertilizers Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Liquid Fertilizers Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Liquid Fertilizers Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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