Liquid Fertilizers Market size was valued at USD 8.49 Billion in 2023 and is expected to reach USD 18.33 Billion by the end of 2036, registering around 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of liquid fertilizers is evaluated at USD 8.96 Billion. The growth of the market can primarily be attributed to the rising demand for food consumption, growing exports and imports of vegetables and fruits, and the increasing number of plant diseases affecting crops across the globe. As per a report published by the Food and Agricultural Organization of the United Nations, the amount of cereal produced worldwide has increased by 7 million tonnes in 2022. Additionally, the prediction for the global consumption of cereal in the years 2022–2023 has also increased, going from 9.2 million tonnes to 2 797 million tonnes.
Fertilizers that include sodium, potassium, and phosphorous dissolve quickly in water, gradually reducing application costs and allowing for their use. Nitrogen. For instance, according to the Food and Agriculture Organizations of the United Nations, it was noticed that, from 2021 to 2022, worldwide demand for nitrogen fertilizers had increased from 110193 thousand tonnes to 111591 thousand tonnes. Increasing the application of liquid fertilizers in home irrigation and growing interest of people for green houses and gardens is expected to propel the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.1% |
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Base Year Market Size (2023) |
USD 8.49 Billion |
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Forecast Year Market Size (2036) |
USD 18.33 Billion |
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Regional Scope |
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Type (Fruits & Vegetables, Grains & Cereals, Oilseeds & Pulses)
The global liquid fertilizers market is segmented and analyzed for demand and supply by type into potassium, nitrogen, phosphorus, and micronutrients. Out of these, the nitrogen segment is expected to hold the highest growth over the forecast period owing to its lower cost as compared to granulated ones, and ease of storage. For instance, the demand for nitrogen is anticipated to rise globally in 2022 despite much higher prices as demand for nitrogen increased by 4.1 percent to 110 MMT in 2020–21. Nitrogen is used to build ammonia reserves in plants that cannot absorb nitrogen from the soil and is most widely manufactured in various combinations to meet the demand driving the growth of the market.
Our in-depth analysis of the global market includes the following segments:
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By Crop Type |
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By Type |
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By Production Process |
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By Application |
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The Asia Pacific liquid fertilizers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. the increasing food demand, a growing population across the world increasing the need for agricultural crops, increased agricultural yields, and improvements in automated irrigation systems. For instance, this region contains 62% of the world's population and is home to the world's two most populous countries, China and India. Additionally, according to a report released by the Asian Development Bank, some of Asia's 350 million smallholder farmers are now able to hire machine services to work on consolidated fields of farmer groups through innovative arrangements.
Kugler Company announced the introduction of Green Reaper that delivers herbicides directly onto the leaf surface and into the bloodstream of targeted weeds. This product has a non-ionic adjuvant that prolongs its ability to remain on leaf surfaces for longer periods of time.
The Nutrien Ltd., has announced its intention to build the largest clean ammonia production facility in the world at Geismar, LA. With a new clean ammonia plant, the company is anticipated to leverage its existing Geismar, LA facility's carbon capture and sequestration infrastructure and low-cost natural gas to serve agricultural, industrial and emerging energy markets.
Author Credits: Rajrani Baghel
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