Selbyville, Delaware, Dec. 06, 2021 (GLOBE NEWSWIRE) -- According to the latest report by Global Market Insights Inc., the Liquid Fertilizers Market was estimated at USD 16 billion in 2020 and is expected to reach a valuation of around USD 27 billion by 2027, registering with a CAGR of 3.9% from 2021 to 2027. The research report gives a detailed analysis of market size & estimations, top winning strategies, drivers & opportunities, wavering market trends, competitive scenario, and major investment pockets.
Liquid fertilizers offer numerous benefits viz., easy & equal distribution of nutrients and easy handling, among others, over the granular form, which is set to drive market growth in the coming years. Additionally, decrease in the availability of arable land and skyrocketing demand for food globally has enhanced the adoption of liquid fertilizers. Increasing demand for food and fast-paced growth of emerging nations have prompted farmers to use high-efficient fertilizers to improve agricultural yields, which is speculated to boost market growth over the forecast timeframe.
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Phosphate fertilizers aid the growth of healthy roots as well as proper development of flowers and plants. The development of novel products, along with mounting demand for quick release, high-efficient fertilizers, is foreseen to bolster the demand for these fertilizers. Supported by prominent product uptake, the phosphate type segment held around 19% share in terms of volume in the liquid fertilizers market in 2020 and is estimated to grow at a robust pace over 2021-2027.
By mode of application, the soil segment is anticipated to be valued at about USD 3 billion by 2027. Application of fluid fertilizers directly into the soil requires special equipment. Anhydrous ammonia, nitrogen solution, and other fertilizers can be injected into the soil through either non-pressure or pressure process. Several advantages offered by these applications, such as the promotion of efficient use of fertilizers, the facilitation of precision farming, and so forth, are likely to support segmental development over the review period.
Key reasons for liquid fertilizers market growth:
- Surging prominence in food production.
- Rising prevalence of liquid organic fertilizers.
- Growing product adoption in precision farming.
- Mounting usage for growing high-quality crops.
2027 forecasts show ‘organic’ segment retaining its dominance:
In terms of production process, the organic segment is projected to exceed a valuation of USD 600 million by 2027. Soaring awareness pertaining to organic fertilizers, along with soaring need for organic food, is slated to propel segmental growth through the analysis timeline.
Middle East & Africa to maintain top status in terms of revenue:
The Middle East and Africa liquid fertilizers market is estimated to be valued at more than USD 1.6 billion by 2027. The expanding population, coupled with surging demand for high-value food products, is set to fuel product uptake in the forthcoming years. Moreover, increasing presence of international manufacturers in MEA and a wide distribution network of domestic and international fertilizer distributors are expected to further foster regional market outlook in the future.
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Impact of COVID-19 pandemic on liquid fertilizers market:
The COVID-19 outbreak disrupted the food supply chain, adversely affecting the global food and nutritional security. Moreover, government-imposed lockdown restrictions to curb the transmission of the novel coronavirus led to shortages and boosted prices of various crops. Thus, restricted supply of fertilizers hampered the growth of the market during the pandemic. Meanwhile, there was also a consumer shift towards increased consumption of heavily processed food due to decreasing availability of fresh fruits and vegetables. However, rising health consciousness among consumers for organic food products as well as soaring research emphasis on soil health to enhance crop quality have stimulated industry expansion in recent years.
Leading market players:
Some prominent companies operating in the global liquid fertilizers industry are EuroChem Group, Yara International ASA, Nutrien, Ltd., and K+S Aktiengesellschaft, among others.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
