Market Overview:
The global liquid fertilizers market size was valued at USD 2,771.86 million in 2023 and is expected to be worth USD 2,885.23 million in 2024. The market is projected to reach USD 4,123.96 million by 2032, recording a CAGR of 4.57% during the forecast period.
Liquid fertilizers are water-soluble fertilizer solutions containing key nutrients that plants need to grow, such as nitrogen (N), phosphorus (P), and potassium (K), as well as micronutrients, such as iron (Fe), zinc (Zn), and manganese (Mn). They are designed to be diluted with water and applied straight to the soil or leaves of plants. Emerging markets are increasingly embracing modern farming technologies and techniques, such as precision agriculture and protected cultivation.
LIST OF KEY COMPANIES PROFILED IN THE REPORT:
Segmentation:
Nitrogen Segment to Account for Major Market Share Due to Its Need for Quantity and Quality of Crop Yields
Based on nutrient type, the market is segmented into nitrogen, potassium, phosphate, and micronutrients. The nitrogen segment is projected to account for a major share of the global market. Nitrogen is crucial for healthy plant growth, and a lack of it in the soil can reduce the quantity and quality of crop yields.
Fertigation to Capture Major Share Due to Its Ability to Enhance Nutrient Uptake and Promote Balanced Growth
Based on mode of application, the market is segmented into foliar, soil, fertigation, and others. The fertigation segment is projected to capture a major share of the global market. Fertigation provides even nutrient distribution, enhancing nutrient uptake and promoting balanced growth. It enables precise control over application rates and timing to cater to the specific needs of crops at various growth stages.
Urea Ammonium Nitrate Segment to Capture Major Share with its Increased Adoption for Fertigation