COVID-19 Impact on Liquid Fertilizers Market Size, Share, Recent Growth and Forecast

Global Liquid Fertilizer Market was valued at $11,108 million in 2016, and is expected to reach $13,530 million by 2023, registering a CAGR of 2.8% from 2017 to 2023.

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Fertilizers are commonly used to grow all types of crops; however, the rate of application is totally dependent on the soil fertility, which is usually measured by a soil test and based on the particular crop. Fertilizers are utilized among crops both in solid and liquid form. Moreover, solid fertilizer is typically in granulated or powdered form while liquid fertilizers comprise anhydrous ammonia, aqueous solutions of ammonia, aqueous solutions of ammonium nitrate, or urea. These concentrated products are mixed with water to form a concentrated liquid fertilizer (e.g., UAN). Liquid fertilizer proves to be beneficial as it exhibits quicker and broad range of effects on crops and acts as catalyst, thereby increasing the plant nutrient intake.

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.

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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The major companies profiled in the report include Agrium Inc., Yara International ASA, Israel Chemical Ltd. (ICL), K+S Aktiengesellschaft, Kugler Company, Haifa Chemicals Ltd., Agroliquid, Plant Food Company, Inc., Compo Expert GmbH, and Rural Liquid Fertilizers.

Key Findings of the Liquid Fertilizers Market:
In terms of value, the fertigation mode of application is anticipated to exhibit the highest growth rate of 2.9% during the analysis period.
Asia-Pacific is anticipated to maintain its lead throughout 2023, and is projected to grow at a CAGR of 2.8%, in terms of value.
The potash type segment occupied nearly one-sixth of the total market in 2016.
France occupied nearly one-fifth of the total Europe liquid fertilizers market in 2016.
In terms of value, Japan is expected to grow at a CAGR of 3.2% from 2017 to 2023.

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