Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- The growing adoption of efficient fertilizers and fertilization techniques is expected to bolster the growth of the market, states Fortune Business Insights, in a report, titled “Liquid Fertilizers Market Size, Share & Industry Analysis, and Regional Forecast, 2023-2030.” The surging demand for liquid fertilizers is expected to incite the market's development during the forecast period.
Liquid fertilizers are concentrated nutrient solutions that are applied to plants to provide essential elements for growth and development. They are commonly used in agriculture, horticulture, and gardening to supplement soil nutrient levels and enhance plant health. Liquid fertilizers typically contain a mix of macro and micronutrients that are essential for plant growth. The most common macronutrients found in liquid fertilizers are nitrogen (N), phosphorus (P), and potassium (K), often represented by the NPK ratio on the product label. These micronutrients are required in relatively large quantities and play crucial roles in various plant functions.
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The Report Lists the Key Companies in the Liquid Fertilizers Market:
- Yara International ASA
- Nutrien Ltd
- Israel Chemical Ltd.
- Haifa Chemical Ltd
- Grupa Azoty
- The Mosaic Company
- Sociedad Química y Minera de Chile S.A.
- K+S Aktiengesellschaft
- Plant Food Company Inc.
- EuroChem Group
Report Scope and Segmentation-
| ATTRIBUTES | DETAILS |
| Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Liquid Fertilizers Market Growth Drivers | Increasing Adoption of Efficient Fertilizers and Fertigation Techniques |
| High Price of the Product |
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The report on the liquid fertilizers market depicts:
- Essential understanding of the market
- Swot Analysis of the regions
- Recent market trends and developments
- Stellar insights into the competitive landscape
Driving Factor:
Rising Popularity of Precision Farming to Enhance Growth
The increasing demand for high-value crops coupled with changing consumer diets is expected to boost its growth. The growing knowledge about precision farming among farmers can have an excellent impact on the global market. The adoption of fertilizers to increase crop yields can improve the prospects of the market. Furthermore, the expansion of production facilities by significant companies can enhance the development of the market. For instance, in December 2018, Mosaic China opened a new facility in Yantai port. The new facility has several exciting features and capabilities, including an advanced Soil Lab. The 25,000-sq. ft. plant is also equipped with a modernized logistics tracking system to cultivate safer and more efficient operations. Besides, major companies are focused on R&D activities to develop innovative and novel liquid fertilizers for diversified applications across horticultural and field crop commodities, which can propel the market growth. Also, the growing demand for liquid fertilizers due to heavy food demand can subsequently enable the market's speedy expansion. However, the high production cost of fertilizers can dampen the growth of the market in the forthcoming years.
Market Segments:
The Horticulture Sector to Hold the Largest Share
The rapid expansion of the horticulture sector in developed countries is expected to boost the demand for fertilizers. The high profit margin associated with the cultivation of fruits and vegetables is gravitating farmers to utilize liquid fertilizers despite their high price.
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Liquid fertilizers offer several advantages over traditional solid fertilizers. They are easy to apply and can be quickly absorbed by plants, allowing for rapid nutrient uptake. They can be applied directly to plant leaves as foliar sprays or added to the soil for root absorption. Liquid fertilizers also allow for more precise nutrient control, as they can be mixed to specific concentrations based on the plant's needs.
There are different types of liquid fertilizers available, including organic and synthetic options. Organic liquid fertilizers are derived from natural sources such as compost, animal manure, fish emulsion, or seaweed extracts. They provide nutrients in a more slow-release manner and can improve soil structure and microbial activity.
On the other hand, synthetic liquid fertilizers are manufactured using chemical processes. They are often more concentrated and provide nutrients in readily available forms for rapid plant absorption. Synthetic fertilizers can be custom-formulated to meet specific nutrient requirements, making them popular in commercial agriculture.
When using liquid fertilizers, it's important to follow the manufacturer's instructions regarding application rates and frequency. Overuse of liquid fertilizers can lead to nutrient imbalances, leaching, or damage to plants. It's advisable to perform soil tests to determine the nutrient levels and adjust the fertilizer application accordingly.
Overall, liquid fertilizers are a convenient and effective way to supply plants with essential nutrients, promoting healthy growth and higher yields. However, it's essential to choose the right fertilizer formulation for specific plants and follow proper application practices to maximize their benefits.
Synthetic liquid fertilizers are predicted to hold a considerable share in the global liquid fertilizers market due to the high adoption of synthetic liquid fertilizers. Moreover, the increasing adoption of organic fertilizers is fueling the production of organic liquid fertilizers. Liquid fertilizers are widely utilized in various fertigation techniques. The high adoption of precision farming is expected to aid market growth.
Regional Insights:
High Crop Production to Augment Growth in North America
The market in North America is expected to hold the largest share in the global market. The large area of sprinkler irrigation in the region can aid development. According to the United States Geological Survey, in 2015, around 55% (34,700 thousand acres) of irrigated land in the U.S. was armed with sprinkler irrigation systems. Moreover, the efficient agri-inputs for crop production and growing concerns for traditional agri-inputs can spur product demand in North America. Asia Pacific is expected to rise exponentially during the forecast period. The growth is attributed to the increasing cost and adverse effect of traditional fertilizers. The growing advancement in automated irrigation systems is expected to foster growth in the region. The surging awareness regarding nitrogenous liquid fertilizers treatment for restoring the soil nutrients and improving the overall soil fertility can propel the development of the market in the region.
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