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(IndustryNews247.Com, September 03, 2019 ) Market - Overview:
A fertilizer is any natural or synthetically derived material that is used for supplying essential nutrients to plants to promote its growth. Fertilizers can be applied either to the plant tissue or can be incorporated in the soil and are commercially available in dry/granular form and liquid form. Liquid fertilizers evolved as the high growth category of fertilizers owing their ease of use and even concentration characteristics. Liquid fertilizers are extensively in use in crop nutrition activities for wide variety of crops including cereals and grains, fruits, vegetables, and flowering plantations.
The global liquid fertilizers market valued USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period.
Market - Dynamics:
The need for crop nutrition has been rising in both food and commercial crops owing to various economic and environmental factors. Several factors including soil erosion, over cropping, and lack of water is resulting in loss of inherent fertility in agricultural land. Liquid fertilizers grown as the effective solution to offset this loss in soil fertility owing to their rich blend of nutrients, thereby resulting in increased yield and quality of produce.
According to the statistics of The Food and Agriculture Organization (FAO), the global population is likely to reach 10 billion by 2050 and would result in a growth of over 50% in agricultural demand as compared with 2018. The development of organic liquid fertilizers is likely to provide significant growth potential to the market over the forecast period. Organic liquid fertilizers are an essential tool in the armory of farmers and crop growers in meeting growing demand in a sustainable way.
Market Segmentation:
The global liquid fertilizers market has been segmented by nutrient type into nitrogenous, phosphate, potassic, and micronutrient fertilizers on the basis of their formulation and nutrient content. Nitrogen rich liquid fertilizers evolved as the largest segment of the market owing to the role of nitrogen in plant growth. Nitrogen is the main constituent of protein in plants and availability of nitrogen determines the yield, vigour, and colour of the plant.
With a share of over 80%, liquid fertilizers rich in primary nutrients N, P, and K. Micronutrient bends intended for providing secondary nutrients like calcium, magnesium, and sulphur is witnessing significant growth owing to rising need for high shelf-life produce and calcium rich foods. By type, organic liquid fertilizers is growing at a lucrative growth rate owing to rising organic agriculture practices across the globe.
Organic liquid fertilizers are derived from crop residues and animal manures and does not contain any traces of chemicals. According to the Research Institute of Organic Agriculture, the area of cropland managed organically reached 70 million hectares by the end of 2017 which is 20% higher than that of 2016.
Geographical Analysis
Global liquid fertilizers market is segmented into
North America,
South America,
Europe,
Asia Pacific,
Middle East
Africa.
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com
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