May 22, 2024
Liquid Fertilizer Market

The Global Liquid Fertilizer Market to Witness Strong Growth owing to High Crop Demand

The liquid fertilizer market comprises liquid fertilizers which can be quickly and easily absorbed by the plants. Liquid fertilizers contain water-soluble nutrients that dissolve easily and are readily available for plant uptake. They release nutrients steadily throughout the growing season to support healthy plant growth. Liquid fertilizers help in saving labor and time required for fertilizer application.

The Global liquid fertilizer market is estimated to be valued at US$ 33.16 Bn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Liquid Fertilizer Market Growth are Yara International ASA, Nutrien Ltd, Israel Chemical Ltd., Haifa Chemical Ltd, GrupaAzoty, The Mosaic Company, SociedadQuĆ­mica y Minera de Chile S.A., K+S Aktiengesellschaft, Plant Food Company Inc., EuroChem Group, Annadata Organic, AgroLiquid, Agrobio Chemicals, Van Iperen International, BMS Micro-Nutrients NV, ICL Fertilizers, IFFCO, Nortox, Safsulfur, and SQM.

The key opportunities in the market include the growing organic farming practices and demand for eco-friendly fertilizers. Liquid fertilizers release nutrients slowly and help minimize the pollution caused by run-offs. Moreover, the market is also driven by growing trade of fertilizers globally. Major players are expanding their production facilities and distribution network across key markets to leverage growth opportunities.

The market is witnessing strong growth in Asia Pacific and South America driven by huge agricultural output and increasing demand for food. Government support and initiatives toward improving farm productivity are further aiding market growth. Major companies are focusing on these high growth regions by setting up manufacturing plants and distribution channels.

Market Drivers

The main driver for the growth of the liquid fertilizer market is the growing global population and rising food demand which is increasing the usage of fertilizers for higher agricultural yield. Furthermore, liquid fertilizers are easy to apply and require lesser labor. They provide quick greening and help improve the overall quality of soil. The rising concerns about reducing pollution from fertilizer run-offs are further driving the adoption of liquid fertilizers globally.

PEST Analysis

Political: The regulations regarding the usage and production of liquid fertilizers vary across different regions and nations. Changes in any regulations will impact the demand for liquid fertilizers.

Economic: Factors such as fluctuation in the prices of raw materials required for production of liquid fertilizers influence the overall costs incurred by manufacturers. The expenditures ability of farmers also determines the demand for liquid fertilizers.

Social: Increased awareness about the benefits of liquid fertilizers among farmers is positively impacting their adoption. Preference for user-friendly farming techniques and convenience in application are major social drivers.

Technological: Advancements in formulation technologies aid in developing customized liquid fertilizers as per the diverse requirements of different crops. Precision farming techniques enable efficient application of optimal doses of fertilizers.

In terms of value, Asia Pacific region contributed the highest share to the global liquid fertilizer market in 2024. Availability of large cultivable land and growing population in countries such as India and China have been the key growth influencers.

Middle East and Africa is anticipated to witness the fastest growth during the forecast period from 2024 to 2031. Factors such as rapid expansion in agricultural sector, various government initiatives to enhance farm output and rising demand for food drives the demand for liquid fertilizers across this region

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it