The global liquid fertilizer market is segmented into ingredient type such as organic, and synthetic. Among these segments, synthetic segment dominated the global market in previous years. The synthetic fertilizer’s revenue is multiplying at a significant rate on the back of growing demand for high yield crop. Additionally, synthetic fertilizers are inexpensive as compared to organic fertilizers and this factor is increasing the demand for synthetic fertilizers across all regions. However, organic liquid fertilizers segment is also envisioned to witness satisfactory growth over the forecast period owing to government support and environmental benefits of using organic fertilizers.
Global liquid fertilizer market is expected to register a 2.9% CAGR over the forecast period. Moreover, rising population and growing food demand across the globe is a major factor which is predicted to intensify the consumption of liquid fertilizers over during estimated period. Additionally, liquid fertilizer proposes a number of benefits such as easy application and rich nutrients for plant health are anticipated to drive the growth of Liquid Fertilizers Market in upcoming years.
The potassium segment by micronutrients type is likely to grow at remarkable pace during the forecast period. Further, potassium is a very essential nutrient for plants to grow quickly and improve the overall quality of a plant. In addition to this, potassium also helps the plants to fight various diseases. This factor is projected to enhance the growth of potassium liquid fertilizer market over the forecast period.
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Benefits of Liquid Fertilizer
Liquid fertilizers offer various advantages over dry fertilizers including easy application and immediate effects. Liquid fertilizers contain nutrients such as nitrogen, phosphate, potassium and other micronutrients and make these nutrients available to the plants in very short time. Further, enhanced control over nutrients dosages in case of liquid fertilizer is a major factor which is augmenting the growth of liquid fertilizer market in upcoming years.
Government Initiatives and Support
Governments of developing countries such as India are encouraging the farmers to adopt liquid fertilizers. For instance, India government is promoting liquid fertilizers and has recently announced the initialization of liquid fertilizer plant in Chhattisgarh.
However, high cost of packaged organic liquid fertilizer, lack of awareness in various undeveloped countries across the globe and harmful effect of synthetic liquid fertilizers on soil are some of the factors that are likely to restrain the growth of the liquid fertilizer market in the near future.
The report titled “Global Liquid fertilizer Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global liquid fertilizer market in terms of market segmentation by ingredient type, by micronutrients type, by crop type, by mode of application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global liquid fertilizer market which includes company profiling of Agrium Inc., Kugler Company, Haifa Chemicals ltd. , Agroliquid, Plant Food Company, Inc., Compo Expert GmbH, Rural Liquid Fertilizers, Pattison Liquid Systems Inc., Nutra Flo Company, InstaGro Manufacturing Inc. , Van Iperen International, AgroThrive, Inc., and Eco-green Liquid Fertilizer. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global liquid fertilizer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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