Liquid Fertilizers Global Market Report 2023
Major players in the liquid fertilizers market are Nutrien Ltd., Yara International, ICL Group Ltd., The Mosaic Company, EuroChem Group AG, AgroLiquid, Kugler Company, Compo Expert GmBH, FoxFarm Soil & Fertilizer Company, Plant Fuel Nutrients LLC, Agro Bio Chemicals, CF Industries Holdings Inc.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Liquid Fertilizers Global Market Report 2023" - https://www.reportlinker.com/p06285811/?utm_source=GNW
, OCP Group, and Nutri Tech Solutions.
The global liquid fertilizers market grew from $7.4 billion in 2022 to $8.08 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The liquid fertilizers market is expected to grow to $10.64 billion in 2027 at a CAGR of 7.1%.
The liquid fertilizers market consists of sales of liquid fertilizer products such as calcium nitrate and potassium hydroxide.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The liquid fertilizers are used to improve the quality or quantity of plant growth.Liquid fertilizers are extracts of soluble chemicals that are directly sprayed on crops or plants or can be injected into the soil by pressure.
These are used in crop nutrition activities in a wide variety of crops.
Asia-Pacific was the largest region in the liquid fertilizers market in 2022.Asia-Pacific is expected to be the fastest-growing region in the market.
The regions covered in the liquid fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of liquid fertilizers are nitrogen, micronutrients, potassium, and phosphate.Liquid nitrogen fertilizers are less expensive than granulated and are used by farmers.
Liquid fertilizers are easy to handle and can be distributed uniformly over the field.The various production process of liquid fertilizers is organic and inorganic.
The various crop types include cereals and grains, oilseeds, fruits, and pulses which are used in several applications such as soil, fertigation, and foliar.
The rise in the agricultural sector is expected to propel the growth of the liquid fertilizers market going forward.The agriculture sectors comprise establishments that are primarily engaged in growing crops, raising animals, and harvesting fish and other animals from a farm, ranch, or their natural habitats.
Liquid fertilizers are applied within a few days of planting a crop as plants quickly absorb the nutrients provided by these fertilizers.The additional nutrients ensure the plants grow quickly and are in good health thus increasing the overall yield.
For instance, according to the Economic Survey of India, the agriculture sector registered a growth of 3.6 % in 2020-21 and is expected to reach 3.9% in 2021-22. Therefore, the rise in the agricultural sector is driving the growth of the liquid fertilizers market.
Product innovations have emerged as the key trend gaining popularity in the liquid fertilizers market.Major players in the market are focusing on developing innovative products for market growth and a strong product portfolio.
For instance, in May 2020, Wilbur-Ellis, a US-based agriculture technology, and products company launched two new potassium fertilizer technologies, TILL-IT KOMPOUND and FOLI-GRO KILO.These are highly soluble, carbon-based potassium fertilizers that drive bio-activation in soil or as a foliar-applied product.
FOLI-GRO KILO is a carbon-based potassium source that is with high solubility and accessibility for any foliar, in-furrow, or soil-applied liquid fertilizer application. TILL-IT KOMPOUND has combined the KILO technology with sulfur, creating a solution for straight applications or combinations with urea ammonium nitrate or ammonium polyphosphate (APP).
In July 2021, ICL Group Ltd., an Israel-based specialty chemicals and specialty minerals company acquired Compass Minerals America do Sul SA for an undisclosed amount. The acquisition is expected to position ICL as the top specialty plant nutrition company in Brazil, advance its long-term goal of achieving global leadership for its Innovative Ag Solutions division, and accelerate its strategy of achieving leadership positions in high-growth specialty plant nutrition markets. Compass Minerals America do Sul SA is a Brazil-based specialty plant nutrition company.
The countries covered in the liquid fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The liquid fertilizers market research report is one of a series of new reports that provides liquid fertilizers market statistics, including liquid fertilizers industry global market size, regional shares, competitors with a liquid fertilizers market share, detailed liquid fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the liquid fertilizers industry. This liquid fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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