September 07, 2022 10:54 ET | Source: Facts & Factors Facts & Factors
NEW YORK, USA, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Liquid Fertilizers Market Size, Share, Growth Analysis Report By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others (turf, ornamentals, and nursery plants), By Compound (Calcium Ammonium Nitrate (CAN), Urea-Ammonium Nitrate (UAN), Potassium Nitrate, Phosphorus Pentoxide (P205), Others (boron, chloride, and iron), By Application (Soil, Foliar, Fertigation, Others (starter solutions and aerial applications), By Type (Nitrogen, Phosphorus, Potash, Micronutrients) and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Liquid Fertilizers Market size & share was valued at approximately USD 2,419.40 million in 2021. The market is expected to grow above a CAGR of 4.20% and is anticipated to reach over USD 3096.805 million by 2028.”
The report analyses the Liquid Fertilizers market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Liquid Fertilizers market.
Plants receive the necessary nutrients from liquid fertilizers at specified times and under different environmental circumstances. Plants are anticipated to absorb these nutrients through their leaves and roots' pores. They are frequently used to produce crops like maize because they are rich in micronutrients and growth hormones. They seem to work as a catalyst, boosting the uptake of nutrients by plants. Liquid fertilizers aid in the early development of plants and the quick establishment of seedlings.
Additionally, more food may be needed in the upcoming years to feed the expanding human population; this emphasizes the significance of agriculture since it is the only way of mass-producing human food. Because there is a limited amount of land, it isn't easy to develop additional areas for agriculture. On the other hand, urbanization, soil erosion, and pollution have reduced the amount of land suitable for agriculture. The only way to increase yield per acre of land and provide enough food for everyone is to do so. Only the careful application of fertilizers and other cutting-edge farming methods makes this feasible.
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To improve soil productivity and efficiency, which is a major market driver, farmers can use liquid fertilizers. The only way to produce enough food for everyone is to increase yield per unit of land. This can only happen if fertilizers are utilized wisely in conjunction with other innovative agriculture techniques. Liquid fertilizer sales have been expanding significantly, and long-term projections indicate that this trend will continue. The market for liquid fertilizers is driven by increased demand for high-efficiency fertilizers, ease of use, adoption of sustainable agriculture practices, and rising environmental safety.
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Liquid Fertilizers Market: COVID-19 Impact Analysis
The COVID-19 pandemic's global catastrophe has had a negative impact on the majority of industries across numerous countries. Import-export restrictions that caused delays and cancellations at borders had a negative impact on the global fertilizer market. Due to restrictions on the movement of people and goods, the agri-food supply chain encountered many problems. Furthermore, the difficulties experienced by liquid fertilizer exporters are expected to persist for the foreseeable future given that several countries and governments are attempting to combat COVID-19 with diverse techniques. As a result, during the pandemic, liquid fertilizer's market value drastically decreased.
The report contains qualitative and quantitative research on the global Liquid Fertilizers Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Liquid Fertilizers market include;
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The global liquid fertilizers market is segregated based on crop type, compounds, application, type, and region. Based on crop type, the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others (turf, ornamentals, and nursery plants). The fruits & vegetable segments dominate the market in 2021.
Based on compounds, the market is segmented into Calcium Ammonium Nitrate (CAN), Urea-Ammonium Nitrate (UAN), Potassium Nitrate, and Phosphorus Pentoxide (P205), and Others (boron, chloride, and iron). Calcium Ammonium Nitrate (CAN) dominates the market in 2021.
Based on application, the market is segmented, Soil, Foliar, Fertigation, and Others (starter solutions and aerial applications). The Fertigation segment dominates the market in 2021. The market is segmented based on type: Nitrogen, Phosphorus, Potash, and Micronutrients. The nitrogen segment dominates the market in 2021.
The global liquid fertilizer market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The liquid fertilizer market was especially significant in the Asia-Pacific in 2021. The need for liquid fertilizers in the Asia-Pacific area is largely driven by three factors: an increase in global food demand, high crop yields, and improvements in automated irrigation systems. Australia is predicted to develop at the quickest rate in the next years, while China already holds the greatest share in the area. The use of high-efficiency fertilizers in agriculture, including liquid potassium fertilizers, has skyrocketed due to the rising costs of conventional fertilizers and their negative environmental impacts.
Demand for liquid fertilizers is increasing in the Asia-Pacific region due to rising food consumption, high crop yields, and advancements in automated irrigation systems. Australia is predicted to expand the quickest in the upcoming years, while China currently holds the greatest market share in the area. Due to the region's extraordinary economic and population growth as well as government and international and national association support for increased agricultural production of fruits, oil, grains, and vegetables to meet the region's demand for food products, Asia-Pacific is the largest and fastest-growing market for liquid fertilizers.
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The global Liquid Fertilizers market is segmented as follows:
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