NEW YORK, According to Technavio, the liquid fertilizer market is estimated to grow by USD 1.92 bn from 2020 to 2025. In addition, the report projects that the market will progress at a CAGR of 3.22%.
Liquid Fertilizer Market: Drivers
The increasing demand for nitrogen-based fertilizer is one of the key factors driving the fertilizer market growth. Moreover, the increasing agricultural activities across the world will drive the use of nitrogen-based fertilizers during the forecast period, which, in turn, will boost the growth of the global fertilizer market during the forecast period.
Liquid Fertilizer Market: Challenges
Stringent regulation on the handling, storage, and transportation of fertilizers is one of the key challenges to the global fertilizer market growth. The contaminated or spilled fertilizer, if not treated properly, can create serious health and environmental issues. Moreover, decomposition during transportation and storage leads to the release of toxic gases and hazardous situations. Thus, major regulatory authorities such as the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA) have set regulations about the handling, storage, and transportation of solid ammonium nitrate, which need to be followed by the manufacturers and suppliers.
Liquid Fertilizer Market: Segmentation Analysis
This market research report segments the fertilizer market by type (nitrogen, phosphate, potassium, and micronutrients) and geography (APAC, North America, Europe, South America, and MEA). APAC led the fertilizer market in 2021, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the significant increase in prevalence for a high protein-based diet in highly-populated countries such as China and India.
Liquid Fertilizer Market: Vendors Analysis
AgroLiquid, Agrotiger Philippines Corp., COMPO EXPERT GmbH, EuroChem Group AG, FoxFarm Soil and Fertilizer Co., Israel Chemicals Ltd., K S AG, OCP SA, Sociedad Quimica y Minera de Chile SA, and Yara International ASA, among others, are some of the key vendors operating in the Fertilizer market.
The key offerings of a few of these vendors are mentioned below:
AgroLiquid – The company offers liquid fertilizer products such as NResponse Urea-Based Liquid Nitrogen Fertilizer and PrimAgro N Biological and Liquid Nitrogen Fertilizer. Agrotiger Philippines Corp. – The company offers liquid fertilizer products such as Hyfer Plus Foliar Fertilizer. COMPO EXPERT GmbH – The company offers liquid fertilizer products such as Hyfer Plus Foliar Fertilizer. EuroChem Group AG – The company offers liquid fertilizer products such as Aqualis UP Solub, Aqualis MAP Solub, and Aqualis SOP Solub. FoxFarm Soil and Fertilizer Co. – The company offers liquid fertilizer products such as Big Bloom Plant Food, Grow Big Plant Food, and Tiger Bloom Plant Food.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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