The growing adoption of liquid fertilizers market is expected to bolster the growth of the market, states Fortune Business Insights, in a report, titled “Liquid Fertilizers Market Size, Share & Industry Analysis, By Type (Synthetic, Organic), By Nutrient Type (Nitrogen, Potassium, Phosphate, Micronutrient), By Mode of Application (Fertigation, Foliar, Soil), By Crop Type (Horticulture, Field Crop, Turf & Ornamentals, Others) and Regional Forecast, 2023-2030.” The surging demand for liquid fertilizers is expected to incite the market’s development during the forecast period.
The report on the liquid fertilizers market depicts:
- Essential understandings of the market
- Swot Analysis of the regions
- Recent market trends and developments
- Stellar insights into the competitive landscape
Rising Popularity of Precision Farming to Enhance Growth
The increasing demand for high-value crops coupled with changing consumer diets is expected to boost its growth. The growing knowledge about precision farming among farmers can have an excellent impact on the global market. The adoption of fertilizers to increase crop yields can improve the prospects of the market. Furthermore, the expansion of production facilities by significant companies can enhance the development of the market.
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The Horticulture Sector to Hold the Largest Share
The rapid expansion of the horticulture sector in developed countries is expected to boost the demand for fertilizers. The high profit margin associated with the cultivation of fruits and vegetables is gravitating farmers to utilize liquid fertilizers despite their high price.
Synthetic liquid fertilizers are predicted to hold a considerable share in the global liquid fertilizers market due to the high adoption of synthetic liquid fertilizers. Moreover, the increasing adoption of organic fertilizers is fueling the production of organic liquid fertilizers. Liquid fertilizers are widely utilized in various fertigation techniques. The high adoption of precision farming is expected to aid market growth.
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High Crop Production to Augment Growth in North America
The market in North America is expected to hold the largest share in the global market. The large area of sprinkler irrigation in the region can aid development. According to the United States Geological Survey, in 2015, around 55% (34,700 thousand acres) of irrigated land in the U.S. was armed with sprinkler irrigation systems. Moreover, the efficient agri-inputs for crop production and growing concerns for traditional agri-inputs can spur product demand in North America. Asia Pacific is expected to rise exponentially during the forecast period. The growth is attributed to the increasing cost and adverse effect of traditional fertilizers. The growing advancement in automated irrigation systems is expected to foster growth in the region. The surging awareness regarding nitrogenous liquid fertilizers treatment for restoring the soil nutrients and improving the overall soil fertility can propel the development of the market in the region.
October 2018: SQM announced the launch of Ultrasolution-K, innovative specialty plant nutrition. An all-in-one liquid formulation, Ultrasolution K contains 100 percent macronutrients that are readily available for plant uptake. The product is an ideal source of nitrogen and potassium.
The Report Lists the Key Companies in the Liquid Fertilizers Market
- Yara International ASA
- Nutrien Ltd
- Israel Chemical Ltd.
- Haifa Chemical Ltd
- Grupa Azoty
- The Mosaic Company
- Sociedad Química y Minera de Chile S.A.
- K+S Aktiengesellschaft
- Plant Food Company Inc.
- EuroChem Group
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