Global Liquid Fertilizers Market was worth USD 13.03 billion in 2016 and estimated to be growing at a CAGR of 3.62%, to reach USD 15.56 billion by 2021.
According to the report Global Liquid Fertilizers Market, published by Market Data Forecast. The Global market has been estimated at USD13.03 billion in 2016 and is projected to reach USD 15.56 billion by 2021, at a CAGR of 3.62% during the forecast period from 2016 to 2021.
The reduction in soil quality has thrusted the use of liquid fertilizers that assists farmers to boost their crop return by three to four times. Moreover, there is also an increase in the demand for the proper utilization of fertilizers since the depletion of soil quality leads to micronutrient deficit in crops.
This deficiency of micronutrients in the soil has driven the practice of employing liquid fertilizers.
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The growth of the Global Liquid Fertilizers market is majorly driven by factors such as rising demand for high efficiency fertilizers, easy accessibility, and implementation of precision farming. However, factors such as limitations in the supply chain, growing apprehensions over health and environmental degradation, and the high costs involved in handling and storage are restraining the growth of the market.
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Liquid Fertilizers Market: Segmentation
- By Nutrient Type
- By Form
- By Mode of Application
- By Crop Type
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. Asia Pacific has been leading the global Liquid Fertilizers market and is also the fastest growing market due to its growing population, rising economy and widespread support from the government and other organizations to maximize agricultural production to meet food requirements.
North America is the second major consumer of Liquid Fertilizers, followed by Europe and Latin America.
The market is categorized by the existence of diversified international and national companies, where the global retailers lead the market and are predicted to grow exponentially by securing regional or local players. These retailers pose a tough test for the small vendors in terms of price, accessibility, and variability.
The major companies dominating the global Liquid Fertilizers market are:
- Haifa Chemicals Ltd.
- Kugler Company
- Yara International ASA
- Israel Chemicals Ltd
- Agrium Inc.
- and Sociedad Quimica Y Minera SA (SQM)
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