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Liquid Fertilizers Market Expected to Reach $13,530 Million: Industry Dynamics and Future Estimations

02-08-2019 04:33 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Liquid Fertilizers Market Expected to Reach $13,530 Million:

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

Liquid fertilizers exhibit an effective way of delivering the essential nutrients to plants at the specific time and in appropriate concentration. These fertilizers are absorbed by plants through their leaf pores and roots. Moreover, liquid fertilizers are rich in growth hormones and micronutrients, and are widely used for crops, such as maize.

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Micronutrients are sprayed by foliar methods, especially iron and manganese, for many crops. Liquid fertilizers also help in the rapid and early growth of seedlings. Fertilizers containing sodium, potassium, and phosphorous can dissolve quickly in water and applied, which eventually saves the application cost and allows the utilization of fertilizers. Moreover, the foliar method of application is employed when roots and soil are deficient in micronutrients. Furthermore, nitrogen-based liquid fertilizers are expected to account for major share in the liquid fertilizer market.

At present, the global liquid fertilizers market is witnessing numerous opportunities, owing to rapid increase in development of 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 leaves farmers with lesser profits. The increase in farm operations further augments the need for liquid fertilizers and motivates farmers to reduce their dependence on delivery of fertilizers and increase storage capacity.

Liquid Fertilizers Market: https://www.alliedmarketresearch.com/press-release/liquid-fertilizers-market.html

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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