Liquid Fertilizers Market Trends 2024: Eminent Players are Agrium, Triangle Chemical Company, Agrotiger, Tessenderlo Group, Yara International, Nutri-Tech Solutions, Kugler Company, Foxfarm, COMPO EXPERT
Continuous legislative amendments regarding sustainable farming by numerous international bodies will improve liquid fertilizers market development. For instance, the Association of American Plant Food Control Officials (AAPFCO) has introduced advanced models for crop growth enhancers in North America. It has successfully developed standards of inspection techniques and encourages adoption of effective and adequate approaches towards farming. Its several cooperative members are working towards the safe usage of these enhancers to protect soil health and water resources.
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Farmers in several agriculture-based countries, including India and China are increasingly developing soil protection products that possess suitable application in any climatic conditions. Implementation of advance technologies, providing an evenly nutrient supply of nitrogen, phosphate and potassium contents will propel liquid fertilizer market growth. In addition, prevention from harmful parasites and pathogen causing crop degradation is a key factor of the product demand.
Favorable government support in emerging economies, including India, Brazil, Thailand and China by providing subsidies to farmers for organic stimulants will stimulate liquid fertilizers market size. In addition, increasing promotion of nitrogen, potassium and micronutrients usage will further boost industry growth.
On the basis of nutrient, nitrogen will hold a major market share among other segments, including potassium, phosphate and micronutrients. Improved application balanced amount of nitrogen growth stimulants recommended on packaging labels to protect crop sensitivity will foster product demand.
Potassium will also significantly contribute in overall liquid fertilizers market expansion due to its high demand as an essential ingredient crop growth enhancer. Superior property, including easy absorption in crops and rapid dissolvable in water are key factors boosting segment demand.
Based on ingredients, the industry is categorized into synthetic and organic. Among these, synthetic growth enhancers are projected to generate high demand due to its low pricings and large availability in the agricultural industry. Furthermore, increasing awareness regarding excess product usage leading to soil spoilage and fertility loss will offer lucrative opportunities for organic products.
On the basis of application, fruits & vegetable segment is expected to hold the largest liquid fertilizers market share during the forecast time period. The surge in adoption of better productivity comprising the retaining nutritional value of soil to produce healthy and germfree fruits & vegetables will fuel liquid fertilizers market size. Cereals & grains will generate high sales due to increasing demand for maize production in countries including China, Brazil and the U.S along with the EU.
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North America will observe significant growth over the forecast time span due to better availability of technologically advanced agricultural machineries for cultivation of its vast arable lands. Expansion of several agriculture-based product manufacturing companies to benefits in farming practice enhancement by improved R&D mechanisms will further fuel liquid fertilizers market size. For instance, in 2016 Tessenderlo Group is expanding its liquid sulfur-based fertilizer manufacturing facility in the U.S. to cater rising liquid fertilizer demand.
Asia Pacific is anticipated to be the fastest-growing market owing to expansion of regional farming activities. Concerns over seasonal farming in several countries including Thailand, Malaysia and Indonesia will raise the need for better crop fertility. Additionally, rising regional population along with increasing food consumption demand will substantially propel liquid fertilizer market penetration.
The global industry share is fragmented due to the large presence of global and local manufacturers. Key industry players include Agrium, Triangle Chemical Company, Agrotiger, Tessenderlo Group, Nutri-Tech Solutions, Kugler Company and Haifa Chemicals Ltd. Other prominent participants are K+S Aktiengesellschaft, Israel Chemical, Foxfarm, Kay-Flo, Planet Natural, Yara International, Plant Food Company and Compo Expert. Continuous focus on strategic collaborations and long-term contracts with suppliers are major strategies chaired out by these companies.
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