Liquid Fertilizer Market Opportunities in Key Application Sectors by 2023 - Dominating Industry Players Profiled Agrium Inc., Yara International ASA, Israel Chemical Ltd., K+S Aktiengesellschaft, Kugler Company

The liquid fertilizers market is projected to reach $13,530 million by 2023 from $11,108 million in 2016, growing at a CAGR of 2.8% from 2017 to 2023. The nitrogen type segment accounted for more than half of the total market share in 2016.

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Demand for liquid fertilizers is increasing as the development of precision farming methods, the need for high-efficiency organic fertilizers, and rise in the adoption of sustainable practices for the key players in the global liquid fertilizers market.

At present, the global liquid fertilizers market is witnessing numerous opportunities, owing to the rapid increase in development of the agriculture industry in Asia-Pacific and LAMEA. In addition, population and income determine food consumption, while changes in income lead to a shift in diets pattern. Moreover, with the rise in incomes, consumption patterns change from staple foods, such as cereals, to a higher-value product, such as meat, vegetables, and dairy. Furthermore, with the surge in food consumption, the need for crop yield increases, effectively leading to market growth.

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In addition, on-farm liquid fertilizer storage is expected to be a key trend for market growth. Increase in the use of liquid fertilizers products, such as UAN, has encouraged farmers to store liquid fertilizers in the farm itself as the volatilizing transportation costs leave farmers with lesser profits. The increase in farm operations further augments the need for liquid fertilizers and motivates farmers to reduce their dependence on the delivery of fertilizers and increase storage capacity.

In 2016, Asia-Pacific accounted for more than half of the total liquid fertilizers market, and is expected to continue this trend, owing to surge in crop cultivation land and the growth in need to boost crop production, which rapidly motivates farmers to use liquid fertilizers, specifically in U.S., China, India, Brazil, and the other developing countries.

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