Liquid Fertilizers Market Trends, Competitive Landscape, Future Outlook, 2032
Market Overview:
The global liquid fertilizers market
size was valued at USD 2,771.86 million in 2023 and is expected to be
worth USD 2,885.23 million in 2024. The market is projected to reach USD
4,123.96 million by 2032, recording a CAGR of 4.57% during the
forecast period.
Liquid fertilizers are water-soluble fertilizer solutions
containing key nutrients that plants need to grow, such as nitrogen (N),
phosphorus (P), and potassium (K), as well as micronutrients, such as iron
(Fe), zinc (Zn), and manganese (Mn). They are designed to be diluted with water
and applied straight to the soil or leaves of plants. Emerging markets are
increasingly embracing modern farming technologies and techniques, such as
precision agriculture and protected cultivation.
LIST OF KEY COMPANIES PROFILED IN THE REPORT:
- Nutrien
Ltd. (Canada)
- Yara
International ASA (Norway)
- Peptech
Biosciences Ltd. (India)
- Foxfarm
Soil & Fertilizer Co. (U.S.)
- Benefert
B.V. (Netherlands)
- ICL
Group (Israel)
- Mahafeed
Speciality Fertilizers (India) Pvt. Ltd. (India)
- CF
Industries Holdings, Inc. (U.S.)
- The Mosaic
Company (U.S.)
- Kugler
Company (U.S.)
Segmentation:
Nitrogen Segment to Account for Major Market Share Due to
Its Need for Quantity and Quality of Crop Yields
Based on nutrient type, the market is segmented into
nitrogen, potassium, phosphate, and micronutrients. The nitrogen segment is
projected to account for a major share of the global market. Nitrogen is
crucial for healthy plant growth, and a lack of it in the soil can reduce the
quantity and quality of crop yields.
Fertigation to Capture Major Share Due to Its Ability to
Enhance Nutrient Uptake and Promote Balanced Growth
Based on mode of application, the market is segmented into
foliar, soil, fertigation, and others. The fertigation segment is projected to
capture a major share of the global market. Fertigation provides even nutrient
distribution, enhancing nutrient uptake and promoting balanced growth. It
enables precise control over application rates and timing to cater to the
specific needs of crops at various growth stages.
Urea Ammonium Nitrate Segment to Capture Major Share with
its Increased Adoption for Fertigation
Based on major component, the market is segmented into
calcium ammonium nitrate, urea ammonium nitrate, potassium nitrate, phosphorus
pentoxide, and others. The urea ammonium nitrate is anticipated to capture a
major share of the global market. UAN is increasingly being adopted for
fertigation, which combines fertilizer and water application through irrigation
systems.
Grains & Cereal Crops Segment to Capture Major Share
Due to Its Increased Demand
Based on crop type, the market is segmented into grains
& cereal crops, oilseeds & pulses, fruits & vegetables, and others.
The grains & cereals segment is expected to capture a major share of the
global market. Grains & cereals are vital for the global food supply,
feeding billions. With the growing population, the demand for food grains
remains high, making efficient nutrient management essential for optimal
yields.
Concerning region, the market covers North America, Europe,
Asia Pacific, South America, the Middle East, and Africa.
Source: https://www.fortunebusinessinsights.com/liquid-fertilizers-market-103314
Report Coverage:
The report has conducted a detailed study of the market and
highlighted several critical areas, such as leading applications, major
components, nutrient types, mode of applications, crop types, and key market
players. It has also focused on the latest market trends and key industry
developments. Apart from the aforementioned factors, the report has given
information on many other factors that have helped the market grow.
Drivers and Restraints:
Rapid Expansion of Greenhouse Vegetable Production to
Fuel Market Growth
The swift expansion of greenhouse vegetable production
significantly influences the market. Greenhouse farming provides a regulated
environment, allowing plants to grow more efficiently and achieve greater
yields per area compared to traditional open-field farming. This method
enhances the efficiency of resource use, including water, nutrients, and land.
In greenhouses, the liquid fertilizers can be accurately delivered through
irrigation systems, which minimizes wastage and optimizes nutrient absorption by
plants.
However, farmers, particularly in the Middle East &
Africa, often lack knowledge about the correct application of liquid
fertilizers in precise amounts, which hinders the liquid fertilizers market
growth.
Regional Insights:
Asia Pacific Dominated Market Due to the Region’s
Significant Agricultural Activity
Asia Pacific was valued at USD 1,358.69 million in 2023,
holding the largest liquid fertilizers market share. This region, home to
populous nations such as China and India, drives significant agricultural
activity, resulting in high demand for boosting crop yields.
In North America, the market is projected to experience
substantial growth due to rising demand for efficient fertilizers. The adoption
of protected agriculture methods, including greenhouses and hydroponics, is
further fueling the market’s expansion.
Competitive Landscape:
Key Players to Focus on Expanding Production Capabilities
to Address Projected Demand for Liquid Fertilizers
Notable key players operating in this market are Nutrien
Ltd., Yara International, ICL Group, CF Industries Holdings, Inc., and others.
The manufacturers are expanding production capabilities by constructing new
facilities or enhancing existing ones to address the projected demand for
liquid fertilizers.
Notable Industry Development:
July 2024: Mivena B.V., a producer of
high-quality fertilizers for professional users, introduced a new line of vegan
liquid fertilizers and organic granulated fertilizers at the International Turf
tradeshow BTME Harrogate, U.K., as well as the International Horticulture
tradeshow IPM Essen, Germany.
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