(I-BusinessNews.Com, October 11, 2019 ) Market Overview:
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 a wide variety of crops including cereals and grains, fruits, vegetables, and flowering plantations.
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.
Lack of awareness among farmers towards the application of fertilizers in the right proportions is the key restraint for the growth of liquid fertilizers market.
The Liquid Fertilizers Market has been segmented by nutrient type into nitrogenous, phosphate, potassic, and micronutrient fertilizers based on 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.
By type, organic liquid fertilizers are 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 do not contain any traces of chemicals.
By geography, Liquid Fertilizers Market is segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. The large scale use of fertilizers particularly in China made the Asia Pacific as the largest market for liquid fertilizers market. According to the International Fertilizer Association (IFA), Asia accounted for a share of 60% in global nitrogen consumption in 2016.
The Liquid Fertilizers Market is fragmented with a large number of companies involved in the production of liquid fertilizers. Along with global agrochemical companies such as FMC Corporation and Yara International ASA, the market is integrated with the footholds of many Chinese and Indian players.
Other key players in the market are Kugler Company, Haifa Chemicals Ltd., Israel Chemicals Ltd., Zuari Agro Chemicals Limited, and Plant Fuel Nutrients LLC.
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