Global food scarcity has resulted in various governments prioritizing the agriculture sector and launched various schemes aimed towards the improvement of crop quality. Moreover, growing pressure on farmers to reduce input costs and generate higher yield and adopt efficient fertilizer practices have boosted the demand for liquid fertilizers. Liquid fertilizers are comparatively cheaper than solid fertilizers and require less labor to apply them. Additionally, liquid fertilizers are non-toxic and do not pose any threat to the environment. Organic liquid fertilizers have gained widespread adoption across the globe.
Liquid fertilizers ensure immediate action on crops for encouraging continued, superlative growth due to their soluble nature. They are generally rich in nitrogen and provide a host of advantages as compared to solid fertilizers. They are easy to handle, easy to blend, and can be ideally used for starter or in-season applications. Market Research Future (MRFR) has thoroughly studied the trends and patterns in The Global Liquid Fertilizers Market over the forecast period of 2017-2023 in an extensive study. As per the analysis of MRFR, the market is likely to showcase substantial growth and reach a significant valuation by 2023.
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Deteriorating soil quality and pressing need to increase agricultural yields have compelled farmers to use plant growth enhancers. Liquid fertilizers are highly efficient in improving crop quality and have gained massive momentum in recent years. They can be absorbed through roots as well as leaf pores which acts as an added advantage. Moreover, they provide a bevy of advantages over solid fertilizers. They are long-lasting, do not leach out, and are safer for plants as they are associated with the danger of burning.
Other factors which contribute to the growth of the market include increased awareness regarding liquid fertilizers among farmers, product development, and technological advancement. However, the lack of knowledge among farmers is a key challenge to the growth of the market.
Competitive Landscape
- Yara International ASA (Norway)
- Haifa Chemicals Ltd. (Israel)
- Agroliquid (U.S.)
- Israel Chemical Ltd. (ICL) (Israel)
- Kugler Company (U.S.)
- Agrium Inc. (Canada)
- Compo Expert GmbH (Germany)
Regional Analysis
By Region, the Liquid Fertilizers Market has been segmented into North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The APAC market accounts for the maximum share of the market. Burgeoning population, improving economic conditions, and initiatives to maximize agricultural yields to cater to the increasing food demands, especially in the developing economies has been instrumental in driving the growth of the market. APAC market is estimated to exhibit the highest CAGR over the forecast period which will be driven by increasing demand from China and India.
The North America liquid fertilizers market is driven by growing demand for liquid fertilizers due to the adoption of sustainable agricultural practices. The high growth is indicated by the increasing demand for pathogen-free formulations.
Segmentation
The Liquid Fertilizers Market has been segmented based on Type, Crop, Application, and Form.
By Type
- Nitrogen
- Phosphorus
- Potash
- Micronutrients
By Form
- Organic
- Synthetic
By Crops
- Oilseeds & pulses
- Cereals & grains
- Fruits & vegetables
By Application
- Foliar
- Fertigation
- Soil
Table of Contents:-
1. Executive Summary
2. Market Introduction
3. Research Methodology
4. Market Dynamics
5. Market Trends
6. Market Factor Analysis
To Be Continue…………….,
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