The Fertigation & Chemigation market is showing huge potential in the mentioned forecast period.
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The Global Fertigation and Chemigation Market was worth USD 33.04 billion in 2016 and estimated to be growing at a CAGR of 6.35%, to reach USD 44.95 billion by 2021.
The market has continued to gain momentum with the high demand in most of the regions over the globe and also due to the intensive market opportunities. Many companies in the agricultural industry have started taking interest in the fertigation and chemigation market lately and the trend is expected to follow.
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Fertigation and Chemigation market has gained popularity due to the rising water scarcity, high crop productivity and less labour intensive. It actually involves various kinds of irrigation techniques like drip irrigation and sprinkler irrigation.
Fertigation and Chemigation techniques are generally used to improve crop yield and have better quality of crop.
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The ever rising population and their demand for better quantity and quality of crops has led to the market to show significant growth recently. Other key factors responsible in driving the market include high efficiency of nutrient utilization, minimal nutrient leaching losses, better growth, yield & quality of crops.
Apart from these the market also faces some restraints as well. Some of the major ones include critical nutrient application doses and high initial investments.
The market also faces a challenge of improving its efficiency. These few factors have hindered the growth of the market over the years.
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The Global market for Fertigation & Chemigation is segmented on the basis of agri input, crop type, and application and irrigation systems. Based on Agri input the segmentation is done into Fertilizers, Insecticides, Fungicides, Herbicides and Others.
Under segmentation by crop type the segments are Field Crops, Plantation Crop, Orchard Crops and Forage & Turf Grasses. By application the market is segmented into Agricultural Irrigation, Landscape Irrigation, and Greenhouse Irrigation and by irrigation systems the segmentation is done under sprinkler and drip irrigation.
In the respective segmentation, the segments dominating the market are fertilizers, field crops, greenhouse irrigation and drip irrigation. On the basis of geographical analysis, the global market is segmented under various regions namely North America, Europe, Asia-Pacific and Rest of the World.
The Fertigation & Chemigation market was dominated by Europe, with the overall market share of over 36% globally. Europe was followed by North America and Asia-Pacific.
Asia Pacific is predicted to grow at a rapid pace in the coming few years.
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Some of the major companies dominating the market, by their products and services include The Toro Company, Jain Irrigation Systems Ltd., Lindsay Corporation, Valmont Industries Inc., Rain Bird Corporation, EPC Industrie Limited, Netafim, Nelson Irrigation Corporation, Rivulis Irrigation, T-L Irrigation Co.
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