Fertigation and Chemigation Market to Surpass $21,434.8 Million Value by 2030, Says P&S Intelligence

NEW YORK, Sept. 12, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, in 2021, the fertigation and chemigation market accounted for a $12,005.0 million value, which is predicted to hit $21,434.8 million by 2030, witnessing a compound annual growth rate of 6.7%. This is owing to the surging awareness regarding water scarcity and usage and the growing application of fertilizers for crop production.

These advanced methods of fertilization use less water and labor than older ones. Thus, by improving fertilizer usage efficiency, while lowering fertilizer application, these strategies provide a significant potential to decrease environmental pollution. This is in addition to the increasing returns on fertilizer investment, which is another boon for the agrarian community.

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As a result of the groundwater depletion in many countries, the world faces a severe risk of future water scarcity. Since there will be less water available for agriculture, it is crucial to use it judiciously.

Essential Points of Interest in Fertigation and Chemigation Market

• Fertilizers hold the largest share in the market, and they are predicted to maintain the trend till 2030. This can be attributed to the extensive use of fertilizers to increase crop yield, scarcity of arable land, and surging food demand brought on by the population growth, especially in the Asian region.
• Drip irrigation systems hold an around 70% share in the market, and this category is expected to continue the trend in the future. This is the most-efficient type of fertigation since it decreases the overall price of crop production and involves less labor than sprinklers and other traditional irrigation techniques.
• The recent trend in the fertigation and chemigation market is the use of wireless technology in irrigation systems. These devices benefit farmers who cannot afford to install the pricy traditional commercial irrigation system sensors.
• In 2021, horticulture held a significant share, a trend that will remain unchanged during the forecast period. This technique is heavily utilized for the cultivation of fruits and vegetables because it decreases labor and fertilizer expenses.
• The European region holds a 40% share in the global fertigation and chemigation market. This is because of the rising adoption of these irrigation techniques, snowballing population, and the requirement for higher-quality crops. Moreover, the awareness of the ways in which these techniques reduce the overall farming expenditure continues to increase in the continent.
• APAC is expected to advance at a 7% CAGR in the future. This is because of the growing need for food due to the population boom, rising need to use less fertilizers more efficiently, and the introduction of several cutting-edge farming products.

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Competitive Analysis

Fertigation and chemigation market players are focused on investments and acquisitions to provide customers with more-efficient and affordable products. These key players are Mahindra EPC Irrigation Limited, T-L Irrigation Co., Nelson Irrigation Corporation, Rain Bird Corporation, Lindsay Corporation, The Toro Company, and Valmont Industries Inc.

Fertigation and Chemigation Market Report Coverage

By Technique

• Drip
• Others

By Input

• Fertilizers
• Insecticides
• Fungicides

By Crop

• Vegetables
• Fruits

By End Use

• Agriculture
• Horticulture
• Greenhouse

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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About P&S Intelligence

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SOURCE P&S Intelligence