Market Research Report
Liquid Fertilizers Market by Type (Nitrogen, Phosphorus, Potassium, and Micronutrients), Mode of Application (Soil, Foliar, and Fertigation), Major Compounds (CAN, UAN, MAP, DAP, and Potassium Nitrate), Crop Type, and Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||953754|
|Published||Content info||299 Pages
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|Liquid Fertilizers Market by Type (Nitrogen, Phosphorus, Potassium, and Micronutrients), Mode of Application (Soil, Foliar, and Fertigation), Major Compounds (CAN, UAN, MAP, DAP, and Potassium Nitrate), Crop Type, and Region - Global Forecast to 2025|
|Published: August 3, 2020||Content info: 299 Pages||
"The liquid fertilizers market is projected to grow at a CAGR of4.4% from 2020 to 2025".
The global liquid fertilizers market size is estimated to be valued at USD 2.4 billion in 2020 and is projected to reach USD 3.0 billion by 2025, recording a CAGR of 4.4%. Factors such as the growing demand for high-efficiency fertilizers, the adoption of precision farming and protected agriculture, increasing environmental concerns, and rapid growth in greenhouse vegetable production are projected to drive the growth of this market.
The outbreak of COVID-19 pandemic is expected to impact the global liquid fertilizers industry. The supply chain has been disrupted due to the government imposition of lockdown across many regions. This has reduced many stakeholders involved in supply chain from taking the products to consumers. However, many companies are managing to run the sales despite of imposed restrictions and are focusing to cope up in the coming quarters.
"Nitrogen: The segment is projected to be the largest segment in the liquid fertilizers market during the forecast period".
Nitrogen is one of the most-widely consumed nutrients among all the macro and microelements required for plant growth. It is used to build amino acids, which produce proteins, and take part in almost every biochemical reaction performed in a plant. Inadequate nitrogen (N) availability in the soil is a common problem that farmers often witness. Therefore, additional liquid nitrogen fertilization is required to eradicate this problem. Urea, ammonium nitrate, ammonium sulfate, and calcium nitrate are commonly available nutrient sources of liquid nitrogen. In addition, various combinations of nutrients are manufactured and used to provide nutrition to plants. Urea is one of the most commonly used sources of nitrogen.
"Cereals & grains: The segment projected to witness the largest growth during the forecast period".
By crop type, the liquid fertilizers market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other segments. The dominance of the cereals & grains segment is attributed to the increasing consumption of liquid fertilizers for these crops, particularly in the Asian and North American countries. In addition, due to the increasing demand for crops, such as corn, wheat, rice, and sorghum, across various industries, the consumption of crop protection chemicals is projected to increase for improving the yield of these cereals. Due to these factors, the segment is projected to grow at the highest CAGR during the forecast period. Asia Pacific held the largest share in the liquid fertilizers market for the cereals & grains segment, majorly due to the high production of crops, including corn, wheat, and rice, in countries such as the US, China, India, and Japan.
"Asia Pacific: The market estimated to account for the largest market share due to the rapid adoption of advanced technologies for improving the yield of crops in the region".
According to the FAOSTAT, the Asia Pacific region contributed to more than 60% of the global population in 2017, with China and India being two of the most populous countries in the world. Hence, the increase in food demand from this region has led to a surge in the use of liquid fertilizers. The growth rate of the Japanese market is also projected to be high as compared to that of the other regions, due to the adoption of precise and advanced systems for farming, as well as controlled-environment agriculture. There are more global players in the market that are focusing on entering the Asia Pacific region through the adoption of strategies such as mergers & acquisitions or partnerships. The Asia Pacific market is projected to grow at the highest rate due to the increase in demand from countries such as India and China. The high cost of these fertilizers is a key factor inhibiting the growth of the Asia Pacific market.
Break-up of Primaries
Others include sales managers, marketing managers, and product managers.
*RoW includes South Africa, Turkey, and Others in RoW.
Leading players profiled in this report
This report segments the liquid fertilizers market, on the basis of crop type, mode of application, type, major compounds, and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the liquid fertilizers market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
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