Liquid Fertilizer Market size is set to grow by USD 2.35 billion from 2024-2028, Increasing demand for nitrogen-based fertilizers boost the market, Technavio

NEW YORK, June 24, 2024 /PRNewswire/ -- The global liquid fertilizer market size is estimated to grow by USD 2.35 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.57%  during the forecast period. Increasing demand for nitrogen-based fertilizers is driving market growth, with a trend towards increasing demand for high-efficiency fertilizers. However, stringent regulations on handling, storage, and transportation of liquid fertilizers  poses a challenge. Key market players include AgroLiquid, Agrotiger Philippines Corp., EuroChem Group AG, Grupa Azoty SA, Haifa Negev technologies Ltd., Indian Farmers Fertiliser Cooperative Ltd., Israel Chemicals Ltd., KS Aktiengesellschaft, Kugler Co., Nutri Tech Solutions Pty Ltd., Nutrien Ltd., OCP Group, Plant Food Co. Inc., Plant Fuel Nutrients LLC, Polski Koncern Naftowy ORLEN SA, RLF AgTech, SQM S.A., Tessenderlo Group NV, Twin State Inc., and Yara International ASA.

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Market Driver

The global liquid fertilizer market is experiencing significant growth due to increasing agricultural output and the rising demand for food production. Approximately 60% of the world's population relies on agriculture, and vendors like Yara and K+S are focusing on technological advancements to meet this demand. Efficient, eco-friendly, and sustainable production methods are being adopted to maximize yield and address micronutrient needs. The demand for vegetables and fruits, which is expected to grow at a high rate, is driving the need for high-efficiency fertilizers. Government subsidies and research and development activities are also contributing to market growth. 

The Liquid Fertilizer Market is experiencing significant growth due to the increasing demand for efficient and easy-to-apply fertilizers. Fertilizers like Urea, Nitrogen, Micronutrients, and Organic Fertilizers are commonly used in modern agriculture. Trends include the use of Foliar Fertilizers for faster absorption and the application of Controlled-Release Fertilizers for extended nutrient supply. The use of Liquid Fertilizers in Horticulture and Turf Management is also on the rise. The market for Liquid Fertilizers is expected to continue growing due to the need to increase crop yields and improve soil health. The use of Sustainable and Eco-friendly Liquid Fertilizers is also gaining popularity. The market for Liquid Fertilizers is a dynamic one, with new technologies and products constantly being introduced. 

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Market Challenges

•         The liquid fertilizer market faces regulations due to the hazardous nature of handling ammonium nitrate fertilizers. OSHA and EPA have set guidelines for manufacturers, suppliers, and distributors to ensure safe handling, storage, and transportation. Ammonium nitrate, which can decompose and release toxic gases, requires adherence to these regulations to prevent health and environmental issues. Major regulatory bodies such as ATF also have separation distance requirements for storage near explosives. These stringent regulations pose challenges for the consumption of liquid fertilizers in the global market.

•         The Liquid Fertilizer Market faces several challenges in its growth. One major challenge is the increasing cost of raw materials, such as nitrogen, phosphorus, and potassium. Another challenge is the regulation of liquid fertilizer production and distribution, which can vary greatly from country to country. Additionally, the market must address the issue of sustainability and environmental impact. The use of vegetableable oils as raw materials for liquid fertilizer production is a growing trend, but it can be costly and complex. Furthermore, the market must find ways to reduce the carbon footprint of liquid fertilizer production and transportation. Lastly, the market must adapt to changing consumer preferences and demands, such as the increasing popularity of organic farming and the need for more precise and efficient fertilizer application.

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Segment Overview 

This liquid fertilizer market report extensively covers market segmentation by  

1. Application 
• 1.1 Cereals and grains
• 1.2 Oilseeds and pulses
• 1.3 Fruits and vegetables
2. Type 
• 2.1 Nitrogen
• 2.2 Phosphate
• 2.3 Potassium
• 2.4 Micronutrients
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Cereals and grains-  The cereals and grains segment is currently the largest application segment in the global liquid fertilizer market. According to the Organization for Economic Co-operation and Development (OECD), production of cereals is projected to increase by 336 Mt over the next decade, with India, Russia, and Ukraine leading the way in wheat output growth, and the US, China, and Brazil contributing significantly to maize output expansion. Other coarse grains are anticipated to see increased production from Russia, Ukraine, Ethiopia, and India, while rice production is expected to rise in India, China, and Thailand. However, the ongoing Russia-Ukraine conflict may negatively impact this segment.

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Research Analysis

The Turf & Ornamental and Horticultural crops sector relies heavily on Liquid Fertilizers to ensure optimal growth and productivity. These fertilizers play a crucial role in mitigating issues such as micronutrient deficiency and toxicity, which can negatively impact plant foliage and the quality of fruits like tomatoes, potatoes, onions, cabbage, and cauliflower. The consumption of Liquid Fertilizers in metric tons is worth the investment for farmers, particularly those specializing in high-value crops. Irrigation systems, including sprinklers, facilitate the efficient application of these fertilizers, reducing environmental pollution from water pollution caused by runoff. Liquid Fertilizers in an absorbable form ensure the effective uptake of essential nutrients by the crops, contributing to their overall health and yield.

The Liquid Fertilizer Market encompasses a wide range of nutrient solutions essential for crop growth. These solutions are derived from various sources, including natural and synthetic materials. The market's growth is driven by factors such as increasing agricultural productivity, the shift towards sustainable farming practices, and the rising demand for high-yield crops. Liquid fertilizers offer several advantages over traditional solid fertilizers, including easier application, improved nutrient uptake, and reduced environmental impact. The market is segmented based on type, application, and region. Types include nitrogenous, phosphatic, potassic, and complex fertilizers. Applications include arable crops, horticulture, and turf & ornamentals. Regions include North America, Europe, Asia-Pacific, and the rest of the world. The future of the liquid fertilizer market looks promising, with continued innovation and the development of new technologies expected to drive growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Cereals And Grains
• Oilseeds And Pulses
• Fruits And Vegetables
• Type
• Nitrogen
• Phosphate
• Potassium
• Micronutrients
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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