Liquid Fertilizer Market Size Will Be Worth About US$21.4 Billion

Tokyo, June 09, 2022 (GLOBE NEWSWIRE) — The world liquid fertilizer market The size was valued at USD 15.08 billion in 2021. The demand for liquid fertilizers is expected to increase due to the increase in food demand and the development of highly efficient liquid fertilizers due to the rapid expansion of the population and growing global concerns about food security. Crop nutrition is becoming increasingly important in food and cash crops due to various economic and environmental considerations. The demand for food has increased globally. As a result, high-efficiency fertilizers such as liquid fertilizers are becoming more popular, and it is a main driver for the liquid fertilizer industry. Many farmers, in general, want better soil quality and better nutrition in their fields.

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Liquid fertilizers help farmers increase soil efficiency and improve the overall production produced by the soil, which is a key market driver. Increasing the yield per land area is the only way to provide enough food for everyone. This is only possible if fertilizers are used wisely with respect to other new agricultural approaches. The liquid fertilizer market has grown rapidly and is expected to continue growing in the long term. High demand for high yield fertilizers, ease of use, adoption of sustainable farming techniques and improved environmental safety are some of the reasons driving the liquid fertilizer market.

Report scope

Report attributes Details
Market size in 2021 $15.08 billion
Revenue forecasts by 2030 $21.4 billion
CAGR 3.97% from 2022 to 2030
The biggest market North America
Fastest growing region Asia Pacific
Year of reference 2021
forecast year 2022 to 2030
Key players Yara International ASA, Nutrien Ltd, Israel Chemical Ltd., Haifa Chemical Ltd, GrupaAzoty, The Mosaic Company, SociedadQuímica y Minera de Chile SA, K+S Aktiengesellschaft, Plant Food Company Inc., EuroChem Group

Report Highlights

  • According to the type of cropthe fruit and vegetable segment accounted for 67% of the market share in 2021. Fruit consumption has increased significantly over the past two decades, and this trend is expected to continue in the coming years.
  • gender basedthe nitrogen segment captured a market share of 39.5% in 2021. Among all the macro and microelements essential for plant growth, nitrogen is one of the most ingested nutrients.
  • Asia Pacific has traditionally been the big market, accounting for 38.4% of the global market. The rising cost of traditional fertilizers, along with their negative environmental implications, has led to a massive growth in the use of high yield fertilizers, such as liquid potash fertilizers, in agriculture.

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Regional overview

North America led the global market with 42% market share in 2021. The North American liquid fertilizer market is expected to approach USD 8 billion in sales by 2030, with a CAGR of around 2. 4% from 2022 to 2030. The existence of a wide variety of fertilizer producers in the region, along with the establishment of new manufacturing facilities and new distribution channels, will drive the market expansion throughout of the projection period. Also, increased knowledge of the use of organic liquid fertilizers, along with growing demand for high-value goods, would support the expansion of the market.

Historically, Asia-Pacific has been the largest market, accounting for 38.4% of the global market. The rising cost of preservative fertilizers, along with their harmful effects on the environment, has led to an incredible increase in the use of high yield fertilizers in agriculture, such as liquid potassium fertilizers. Rising food consumption, high crop yields and the development of automated irrigation systems are driving the demand for liquid fertilizers in the Asia-Pacific region. China holds the largest market share in the region (46.5%), while Australia is expected to experience the fastest growth in the coming years. Asia-Pacific is the largest and fastest growing market for liquid fertilizers, due to extraordinary economic growth, population growth and support from governments and international and national associations to stimulate the agricultural production of fruits, oil, cereals and vegetables in order to meet the needs. regional demand for food products.

Market dynamics

Driver

Growth in Demand for Improved High Yield Fertilizers

Due to the development of new urease inhibitors and low cost polymer coating technologies, higher efficiency fertilizers (EEF) are becoming increasingly popular in agriculture, especially in cereals and industrial crops. Improved and efficient liquid fertilizer delivery ensures that crops and plants receive the right amount of nutrients, at the right time and in the right place, with the least amount of waste. Using high-efficiency fertilizers also helps reduce the negative impact of nutrients leaching into water reservoirs.

Detention

High handling costs

The high cost of liquid fertilizer storage, along with the high cost of installation, are significant impediments to the expansion of the liquid fertilizer industry. In liquid fertilizers, water is soluble. Since liquid fertilizers require special handling and storage facilities, the cost of combining nutrients in water is high, as are delivery charges. The growth of the global market is hampered by a lack of understanding of the application of liquid fertilizers, especially in Africa and the Middle East.

Opportunity

New emerging economies

Global population growth has led to an increase in food consumption due to the increase in population and the increase in demand for the use of high-yield fertilizers. The main concerns, however, are soil degradation and contamination, as well as adverse effects on people and the environment. Governments use soil-friendly fertilizers to counter these adverse effects. As a result, farmers’ knowledge of liquid fertilizers is increasing, especially in China and India. Farmers are made aware of possible short and long-term benefits by manufacturers in partnership with non-governmental organizations.

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Challenge

Unfavorable regulatory standards

The fertilizer market, like other industries, is subject to regulatory and other interventions at the state level that both drive and hinder its growth. Adverse industry policies, such as limits on sourcing, production and distribution standards; loss of grants; the maximum retail price requirement; and laws governing the amount and direction of end use, have a significant impact on the entire industry.

Recent development

  • In September 2019, Nutrien Ltd. completed the acquisition of Ruralco Holdings to improve Nutrien Ltd’s product delivery and services. in Australia.

Market segmentation

By crop type

  • Cereals & Grains
    • Corn
    • Wheat
    • Rice
    • Others (sorghum, barley and oats)
  • Oil seeds and pulses
    • Soy
    • Others (canola, cotton and sunflower)
  • Fruits and vegetables
  • Other (turf, ornamentals and nursery plants)

By type

  • Nitrogen
  • Phosphorous
  • Potash
  • Micronutrients

By compounds

  • Calcium ammonium nitrate (CAN)
  • Urea-ammonium nitrate (UAN)
  • potassium nitrate
  • Phosphorus pentoxide (P205)
  • Others (boron, chloride and iron)

By type of ingredient

By request

  • Floor
  • Foliar
  • Air
  • Fertigation
    • agricultural fields
    • hydroponics
  • Others

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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