According to the global liquid fertilizers market report by IMARC Group, the market reached a value of US$ 13.87 Billion in 2021, and it is projected to reach a value of US$ 17.06 Billion by 2027, exhibiting a CAGR of 3.40% during 2022-2027.
Liquid fertilizers are advanced chemical solutions that offer crops the required amount of nutrients within a specific time under different environmental conditions. They are generated by combining aqueous ammonia, potassium salts, anhydrous ammonia, aqueous ammonium nitrate, or urea with water and other soluble phosphates. They are absorbed by plants through their roots, leaf, and pores, ensuring optimal nutrient uptake and providing a uniform application. In addition, they are easier to store and handle, are convenient, save time, and improve crop production. Owing to these properties, liquid fertilizers are gaining immense traction among farmers as they can be sprayed through pumps on multiple crops.
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The market is primarily driven by the rising food demand, the growing population, and expanding agricultural sector. In addition, the increasing need for liquid-based enhanced efficiency fertilizers (EEF) to ensure optimum plant and crop growth is contributing to market growth.
Moreover, the sudden outbreak of the coronavirus (COVID-19) disease pandemic and the consequent increasing consciousness among individuals regarding high-value crops rich in nutrition, such as fruits and vegetables, represents another major growth-inducing factor. Besides this, governments of various countries are taking initiatives and providing subsidies to promote the adoption of advanced micro-irrigation systems, which is providing a positive thrust to market growth. Along with this, the growing popularity of organic liquid fertilizers among farmers to avoid plant damage and enhance soil structure and the integration of inexpensive polymer-coated urea (PCU) and urease inhibitors fertilizers are propelling the market growth. Furthermore, extensive research and development (R&D) activities and strategic collaborations among key players to develop innovative and novel fertilizers are also creating a favorable market outlook.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AgroLiquid, COMPO Expert GmbH (Grupa Azoty S.A.), Haifa Group, ICL Group Ltd., K+S Aktiengesellschaft, Kugler Company, Nutrien Ltd., Nutri-Tech Solutions Pty Ltd., Plant Food Company Inc., Tessenderlo Group and Yara International ASA.
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Production Process:
Breakup by Crop:
- Grains and Cereals
- Fruits and Vegetables
- Oilseeds and Pulses
Breakup by Mode of Application:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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