Global Liquid Fertilizers Market Size study by Type, Application and Regional Forecasts 2020-2027
Global Liquid Fertilizers Market is valued approximately at USD 2.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2020-2027. Fertilizers are generally used to cultivate all types of crops, though, the degree of application is entirely reliant on the soil fertility, that is usually measured through a soil test and based on the crop. Fertilizers are utilized among crops both in solid and liquid form. Liquid fertilizers are the new and technologically advanced substances that offer nutrients to crops.
Increasing demand to boost food security has driven the need for high-efficiency fertilizers. Considerable shift in farming practices along with positive outlook on technology & innovations will boost product demand. The key players of global Liquid Fertilizers market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition and others. For instance, in September 2019, Nutrien, Ltd. acquired Ruralco Holdings Limited (Ruralco) in Australia. With this acquisition , Nutrien will offer substantial advantages to its customers.
Similarly, In June 2019, EuroChem Group extended its fertilizer manufacturing facilities by building a third modern fertilizer mixing plant in Brazil. With the aim to enhance its fertilizer distribution business in Brazil. Apart from this, increase in overall crop protection products and the development of chemical free agricultural practices opens opportunities for bio-based liquid fertilizers. However, high handling costs of liquid fertilizers is expected to impede the market growth.
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The regional analysis of global Liquid Fertilizers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to rising demand for food among consumers along with Strong government support for agriculture. Whereas, Europe is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such easy application of liquid fertilizer and increasing demand for food grains would create lucrative growth prospects for the Liquid Fertilizers market across Europe region.
Major market player included in this report are:
Yara International ASA
Israel Chemical Ltd.
Sociedad Química Y Minera De Chile
The Mosaic Company
CF Industries Holdings, Inc.
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Last Update : Sep 23, 2020
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