The Australia Liquid Fertilizers Market Volume is predicted to reach 431.0 thousand tonnes by 2024 as compared to 351.5 thousand tonnes in 2016 ~ Research Nester
“Australia Liquid Fertilizers Market: Potential Demand Analysis & Opportunity Assessment 2024”
The demand for fertilizers owing to rising population with increased food consumption, there is a shift in fertilizer preferences from solid/ granular to liquid fertilizers due to high availability of nutrient pool for root interception, higher lateral infusion rate in soil, low wastage and run off combined with low requirement for soil moisture. In addition to that, the liquid fertilizers allow superior nutrient recovery by the plants and less leaching compared to solid/granular fertilizers.
Australia liquid fertilizers market is expected to reach USD 645.8 Million by the end of 2024 as compared to USD 488.7 Million in terms of value in 2016, expanding at a CAGR of 3.7% over the period 2017-2024. Further, pumps and tankers used in application of liquid fertilizers are easier to handle than bins and augers used for solid/granular fertilizers.
The Australia liquid fertilizers market is divided by crop type into grain, horticulture, irrigated crops and others, out of which, grain segment is anticipated to have the dominant share of share in overall fertilizers market in Australia by 2024. In the terms of volume, the grain liquid fertilizers segment is predicted to reach 194.8 thousand tonnes by the end of 2024. Further, horticulture segment is projected to observe a growth rate of 1.2x in the terms of volume over the forecast period.
Growing Population & Mixed Seasonal Conditions to Enhance Enormous Demand for Liquid Fertilizers
According to a recent study by Research Nester, the rapid advancement in liquid fertilizer technology combined with growing demand for essential food products such as fruits and vegetables are intensifying the demand for liquid fertilizers in agriculture segment. Along with that, liquid fertilizer manufacturers are heavily investing in research and development activities to expand their business in liquid fertilizers while fortifying their economic prospects, which are expected to enhance the growth of market over the forecast period.
Additionally, the rising population and increasing food consumption is driving many market players to come up with advanced solutions combined with innovative technologies regarding liquid fertilizers. For instance, ‘Nutrian’ launched EZYFLOW Lupinbud to ensure essential crop nutrition & cater to soil moisture stress caused during rainfall period.
Further, the technological advantages of liquid fertilizers such as uniformity of application such as accuracy by flow rate controllers to prevent overuse along with easy handling pumps and tankers are projected to boost the market growth by the end of forecast period.
Giant Players’ Expertise to Minimize the Barriers faced by Australia Liquid Fertilizers Market
According to Research Nester, despite the preference for liquid fertilizers among other solid forms of fertilizers, the adoption of alternative agricultural practices, the initial investment and rising cost of raw materials might hinder the growth of the Australia liquid fertilizers market in upcoming years.
The report titled “Australia Liquid Fertilizers Market: Potential Demand Analysis & Opportunity Assessment 2024” delivers detailed overview of the Australia liquid fertilizers market in terms of market segmentation by ingredient type, micronutrients, by crop type, by mode of application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Australia liquid fertilizers market which includes company profiling of Incitec Pivot Fertilisers, Yara International ASA, FertPro Manufacturing Pty. Ltd., Rural Liquid Fertilisers (RLF), Sustainable Liquid Technology Pty Ltd., CSBP Limited, Nutrian Liquid Fertiliser, Western fertilizer Technology Pty Ltd., Kemgro Crop solutions, Stoller Australia Pty Ltd., Greenline Industries, Omnia Specialities Australia, SprayGro Liquid Fertilizers and Cropping Solutions (Aust) Pty Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Australia liquid fertilizers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.