Liquid fertilizers are the latest and most technically advanced products that supply nutrients to crops. The need to improve food security has strongly influenced the demand for high-efficiency fertilizers in the world over the years. Along with market expansion, companies in the global liquid fertilizers market are not only competing based on product quality and promotion but are also focused on expanding their reach to new regions.
Some of the major players of the market are:
Yara International ASA, Nutrien Ltd., ICL Fertilizers, Haifa Chemicals Ltd, Plant Food Company Inc., K+S Aktiengesellschaft, Compo Expert GmbH, Kugler Company, AgroLiquid AD, Nutri-Tech Solutions, Tessenderlo Group, Nutra Flow, Agrotiger, FoxFar Soil & Fertilizer Company, amongst others.
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The global liquid fertilizers market was valued at USD 8,759.9 million in 2018, and is expected to register a CAGR of 3.4% during the forecast period (2019-2024). In 2018, Asia-Pacific was the largest geographical segment of the market studied and accounted for a share of around 38.4% of the overall market.
The rise in demand for high-efficiency fertilizers, ease in application, adoption of sustainable farming practices, and higher environmental safety are driving the global liquid fertilizers market. However, limited supplies, issues in logistics, high handling costs, and strict government regulations are limiting the potential growth of the market.
Key Market Trends
Easy Usage and Application Procedures
Despite the global shrinkage of arable land, there is an increasing demand for food around the world, which has led to an enormous increase in the application of high-efficiency fertilizers, including liquid fertilizers, in cultivation. The contribution of liquid fertilizers to the overall yield and food security is significant. So far, the highest adoption rate of liquid fertilizers is observed in the North American region. As per the International Fertilizer Industry Association (IFA), anhydrous ammonia garnered a larger share of 77% in liquid fertilizer application, followed by urea ammonium nitrate (UAN) solutions (18%). Liquid fertilizers, when compared with granular fertilizers, offer higher uniformity, in turn, providing the crops with an even consistent coating so that all plants receive the same nutrients regardless of location. Consequently, liquid fertilizers are projected to witness growth as one of the highly efficient fertilizers that can give cost-effective yields under varied agro-climatic conditions, unlike other types of fertilizers.
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Asia-Pacific dominates the Global Market
Asia-Pacific is traditionally the largest market, representing a 38.4% share in the global market. Owing to factors, such as the rising concern over the current pattern of liquid fertilizer use, heavy reliance on nitrogenous liquid fertilizer, poor nutrition management, lack of complementary inputs, declining soil fertility, and weak marketing and distribution systems, there is a heightened need to improve liquid fertilizer’s effectiveness in the region. Furthermore, these concerns have given way to liquid bio-fertilizer and liquid micronutrient fertilizer being developed in the region. In the Asia-Pacific region, China holds the largest share of 46.5%, while Australia is expected to witness the fastest growth.
The global liquid fertilizers market is slightly fragmented, with various small and medium-sized companies coining smaller shares. Global market players, such as Yara International, Nutrien Ltd, and Haifa Chemicals are the leading market players in the segment, while smaller companies, such as Rural Liquid Fertilizers and Nutri-Tech Solutions also account for a formidable share in the market.
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Table of Contents:
2 Liquid Fertilizers Market Research Methodology
3 Executive Summary
4 Liquid Fertilizers Market Dynamics
5 Liquid Fertilizers Market Segmentation
6 Competitive Landscape
7 Liquid Fertilizers Market Opportunities And Future Trends
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