Liquid Fertilizers Market by Type (Synthetic and Organic), Nutrient Type (Nitrogen, Potassium, Phosphate, and Micronutrient), Application (Fertigation, Soil and Foliar) Crop (Grains & Cereals, Fruits & Vegetables, Oilseeds & Pulses and Others), and Region - Market Perspective, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast for 2024 – 2031

Market Perspective

The global Liquid Fertilizer Market size was worth around USD 13,843.3 Million in 2023 and is predicted to grow around USD 18,173.2 Million by 2031 with a compound annual growth rate of 3.58% between 2024 and 2031.

Liquid fertilizers play a vital role in providing essential nutrients to various crops, resulting in improved yields. Nitrogen is the primary nutrient used in liquid fertilizers, followed by potassium and phosphate. The increasing demand for food security is a crucial factor propelling the liquid fertilizers industry forward. Additionally, the growing shift towards natural or organic growth promotors is another factor driving the liquid fertilizer market share.

However, the liquid fertilizers market is facing uncertain governmental policies due to changing governments over time. These policies change due to the impact of the use of elements, processing, and disposal of wastes generated during chemical production. Despite this challenge, the market is expected to be driven in the future by increasing merger and acquisition activity and major players' efforts to diversify their liquid fertilizer portfolios.

Prominent players in the liquid fertilizers industry are aggressively investing in research and development operations in conjunction with raw material suppliers to produce cutting-edge and unique liquid fertilizers for a variety of horticulture and field crop applications. The market growth for liquid fertilizers may be constrained by rising environmental awareness among farmers and growing environmental concerns.

Key Insights

• Based on the type, the synthetic segment held the largest market share
• Based on nutrient type, the nitrogen segment generated the highest revenue
• By application, the fertigation segment has dominated the market share
• By crop, grains & cereals segments are expected to dominate over the forecast period
• On the basis of region, North America accounted for the largest market share

Increasing Awareness Towards Land Fertility Will Propel Market Growth

The market growth is primarily propelled by the increasing awareness of land fertility. Depleted soil nutrients have become a major concern, and the use of nitrogenous liquid fertilizers has emerged as a practical solution to enhance overall soil fertility. As a result, the demand for liquid fertilizers is increasing, especially in industrialized nations, as the horticulture industry rapidly expands worldwide.

Farmers are increasingly turning to liquid fertilizers despite their relatively high cost, as they realize the significant profit margins that can be achieved by using these fertilizers in the production of fruits and vegetables. The ease of application and quick nutrient absorption by plants are additional factors that make liquid fertilizers an attractive choice for farmers.

As the world population continues to grow, there is a greater need for increased agricultural productivity. The use of liquid fertilizers has become an essential component in meeting this demand by enhancing crop yields and improving overall soil fertility. Additionally, liquid fertilizers offer the advantage of being highly customizable to suit different types of crops and growing conditions.

The rising Focus on Advanced Techniques to Increase Demand for High-Quality Crops is Propelling Market Growth

The main driver of the expanding demand for liquid fertilizers is the increased use of efficient fertilizers and fertigation techniques. Recent crop nutrients fundamentally give crops the maximum amount of nutrients during the growth cycle in the most effective way while avoiding the degradation of soil and water resources, which is expected to increase demand for liquid soluble fertilizers. Market participants are concentrating on broadening their product offerings in response to the steadily increasing demand for liquid fertilizers.

Recent Development

• In January 2023, K+S announced that it had reached an agreement to purchase a controlling stake in its South African distribution partner, Industrial Commodities Holdings (Pty) Ltd (ICH). This strategic move by K+S is aimed at strengthening its presence in South Africa and expanding its customer base in the region.
• In March 2022, Haifa Group signed a purchase agreement to acquire Horticoop Andina, a specialized wholesaler of agricultural products in Ecuador. This acquisition is in line with Haifa Group's strategic expansion plan to increase its market share in South America. Through this acquisition, Haifa Group aims to tap into the growing agricultural market in Ecuador and increase its regional customer base.

Segmentation Analysis

Based on type, the global liquid fertilizers market is further categorized into synthetic and organic. The synthetic segment dominated the largest market share attributed to the widespread use of synthetic liquid fertilizers and is expected to continue to be a key element in the market's growth. The sale of synthetic liquid fertilizers is anticipated to increase as a result of growers being forced to use the most effective fertilizers to assure optimum yield due to the rapidly growing population and increased need for food. Additionally, the manufacture of organic liquid fertilizers is being boosted by the growing use of organic fertilizers.

On the basis of nutrients, the market is further categorized into nitrogen, potassium, phosphate, and micronutrients. The nitrogen segment held the largest market share owing to the growing demand for nitrogen fertilizers in developing countries. Due to their lower toxicity and lack of environmental damage, nitrous fertilizers like UAN, which are less prone to leaching, are favored by farmers all over the world.

By application, the market is further categorized into fertigation, soil, and foliar. Fertigation dominated the segmental share globally and is estimated to maintain its dominance through the forecast period. Fertigation has been one of the efficient processes as it comprises the addition of fertilizers in the irrigation water. It adds fertilizing nutrients directly into the water which is then supplied to the farmlands. Fertigation obtained importance as it requires comparatively less labor, high efficiency, and reduced time. This application can be implemented for almost all types of crops in the field, which has been one of the most important factors augmenting the growth of the segment. It is more beneficial where the size of the farmlands is vast. U.S., Latin American countries, China, and India are the countries wherein this application is observed on a large scale.

Asia Pacific Held the Largest Market Share Owing to the Rising demand for Diverse Crop Varieties

In 2022, Asia Pacific held the largest market share in the global liquid fertilizers market, accounting for more than 24% of the total market share. The dominance of the region can be attributed to the rising demand for diverse crop varieties, which has led to increased adoption of liquid fertilizers.

The region boasts countries such as China, India, and Australia, which have a significant contribution to the agricultural industry. With low labor costs and functional government policies, the region has become a key player in the global fertilizer market. The establishment of the liquid fertilizers market in the region has been facilitated by expanding the agricultural industry, which has created opportunities for investment and growth.

India, in particular, is a significant contributor to agricultural production and has become a major consumer of liquid fertilizers. China, on the other hand, has the maximum production in the region, further driving the growth of the market.

North America to Observe Significant Growth Due to the Presence of State-Of-Art Equipment

North America accounts for more than 18% of the global market, with Asia Pacific leading at 24%. Among the countries in North America, the United States is the largest contributor to this revenue. The region has witnessed widespread availability and adoption of advanced equipment, making it easier and more efficient for farmers to apply fertilizers to large farmlands. For instance, over 60% of the farmland in the region is equipped with underground sprinkler irrigation systems, which are time-saving and convenient.

The ease of use of these systems, coupled with the nutrients provided by liquid fertilizers, has accelerated the growth of this segment. Additionally, the increasing utilization of automated systems in the region is expected to be a key driver for the market in the forecast period.

Competitive Landscape

• AgroLiquid
• Haifa Negev technologies LTD
• ICL Fertilizers
• K+S Aktiengesellschaft
• Nutrien Ltd.
• Plant Food Company, Inc.
• Yara
• COMPO EXPERT GmbH
• RLF AgTech

The global Liquid Fertilizer Market is segmented as follows:

By Type

• Synthetic
• Organic

By Nutrient Type

• Nitrogen
• Potassium
• Phosphate
• Micronutrient

By Application

• Fertigation
• Soil
• Foliar

By Crop

• Grains & Cereals
• Fruits & Vegetables
• Oilseeds & Pulses
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America