Liquid fertilizers are an effective way of providing the essential nutrients to plants at the right time and in ideal concentration. They can be absorbed by plants through their leaf pores and roots. Liquid fertilizers are rich in growth hormones and micro nutrients and are widely used for row crops such as maize. They appear to act in the form of a catalyst, increasing a plant’s nutrient uptake. Liquid fertilizers help in the rapid establishment of seedlings and quick early growth. Fertilizers containing sodium, potassium and phosphorous are able to dissolve quickly in water and can be applied which eventually saves the application cost and allows the utilization of fertilizers. When roots are stressed or nutrients are unavailable or lacking in the soil, they can be supplied by foliar feeding. Nitrogen based liquid fertilizers account for over two third share of the liquid fertilizer market and is likely to develop further in coming years.
Globally, demand for liquid fertilizers is surging due to rising need for increasing agricultural output in order to address growing global food requirements. The major driver of liquid fertilizers market is the need for micro nutrients. Furthermore, increasing soil efficiency and escalating demand for bio fuels and high quality yield are factors propelling the market. Fruits and vegetables exhibit high potential and their production is becoming intensive and vertically integrated due to continuous technological advancements and mounting demands for them. Additionally, investments by the government and private players, increasing research and development activities and new product developments are projected to steer growth in global liquid fertilizers market. Increasing demand for biofuels is associated with the growth of liquid fertilizers market because of liquid fertilizers’ use in the production of crops such as wheat, soybean, and sugarcane. However, limited awareness among farmers and huge handling costs are a few deterrents.
Based on the source, global liquid fertilizer market is segmented as organic and synthetic. Different types of liquid fertilizers include nitrogen, phosphorous, potash, and micro nutrients. On the basis of crop type, the liquid fertilizer market is segmented as cereals and grains, fruits and vegetables and oil seeds and pulses. In terms of mode of application, liquid fertilizers market is segmented as soil, foliar and others.
Global liquid fertilizers market exhibited a modest growth in 2015 and this expected to continue the same trend in the forecast period (2016-2024). Also, during the forecast period, the demand for nitrogen, phosphorous and potassium is expected to increase on account of rising population, growing demand for food grains and rising concerns related to depleting ground water resources. Asia-Pacific region is projected to have a speedy growth in coming years owing to economic growth and developmental activities in the region. With robust population base, the need for food is growing unprecedentedly in this region and the farmers are compelled to enhance their agricultural output from the limited available land. Liquid fertilizers market finds a promising future in Europe because of the growing demand for renewable energy in the region and steps taken by EFMA (European Fertiliser Manufacturers’ Association) for the implementation of product stewardship program for enhancing agricultural productivity. North America has a significant share of liquid fertilizers globally and the huge demand in this region has led to increased competition and companies are investing in R&D for innovative liquid fertilizer products. Market of liquid fertilisers in Latin America is also expected to have a decent growth where the cropped area is increasing steadily. African region has strong resources and tries to expand its production capacity. Africa is a liquid fertilizer consuming region and market of liquid fertilizer can be improved by having extra-regional partnerships.
Major liquid fertilizers market players include Agrium Inc., Haifa Group, K+S AKTIENGESELLSCHAFT, Yara International ASA, Israel Chemicals Ltd and Sociedad Quimica Y Minera SA .
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.