Asia-Pacific to Lead Global Liquid Fertilizer Market till 2024
Growing demand for high-efficiency fertilizers,
adoption of precision farming and protected agriculture, and rising potash
supply and nitrogen demand to drive global liquid fertilizer market through
2024
According to TechSci Research report, “Global Liquid Fertilizer Market
By Type, By Mode of Application, By Ingredient Type, By Crop Type, By Region,
Competition, Forecast & Opportunities, 2024’’, global liquid fertilizer market stood at $ 8,760
million in 2018 and is forecast to register a CAGR of 3.6% during 2019-2024. Ease
of use and application, increasing environmental concerns, rising demand for
high efficiency fertilizers, and adoption of precision farming and protected
agriculture are among the major factors expected to fuel the market during
forecast period.
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Based
on type, global liquid fertilizer market has been segmented into nitrogen,
phosphorus, potash and micronutrients. In coming years, micronutrients segment is anticipated
to register the fastest growth rate. Micronutrients drive many metabolic
reactions in all crops and maintains growth. Moreover, increasing soil
deficiency, growing demand for biofuels and rising demand for high-quality
yield are expected to aid the micronutrients segment in global liquid
fertilizers across the globe. Asia-Pacific holds the largest growth potential
for liquid fertilizers, as the region boasts many emerging economies like India
and China. Additionally, factors such as high demand for nutritive food and
sustainable crop yields, growing investments in the agriculture sector and
management of crop production costs are fueling the region’s liquid fertilizer
market.
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“Fruits &
vegetables segment would grow at the fastest rate in global liquid fertilizer
market in coming years. Production of fruits & vegetables is more intensive
and vertically integrated, owing to continuous advancements in technology. With
growing focus of healthy eating habits and rising disposable income, demand for
fruits & vegetables would grow across the globe, which in turn would offer
lucrative growth opportunities to players operating in liquid fertilizer market”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Liquid Fertilizer Market By Type, By
Mode of Application, By Ingredient Type, By Crop Type, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth
potential of global liquid fertilizer market and provides statistics and
information on market size, structure and future market growth. The report is intended to provide cutting-edge market intelligence and
help decision makers to take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in global liquid fertilizer market.
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