Liquid Fertilizers Global Market Report 2024

Liquid fertilizers play a crucial role in enhancing both the quality and quantity of plant growth. These fertilizers consist of soluble chemicals that can be directly sprayed on crops or plants, or injected into the soil under pressure. They find extensive use in crop nutrition activities across a diverse range of crops.

The primary categories of liquid fertilizers include nitrogen, micronutrients, potassium, and phosphate. Liquid nitrogen fertilizers, favored by farmers for their cost-effectiveness compared to granulated alternatives, are easily handled and can be evenly distributed across fields. The production processes for liquid fertilizers encompass both organic and inorganic methods. Various crop types, including cereals and grains, oilseeds, fruits, and pulses, benefit from liquid fertilizers applied through soil, fertigation, or foliar methods.

The liquid fertilizers market research report is one of a series of new reports that provides liquid fertilizers market statistics, including liquid fertilizers industry global market size, regional shares, competitors with a liquid fertilizers market share, detailed liquid fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the liquid fertilizers industry. This liquid fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The liquid fertilizers market size has grown strongly in recent years. It will grow from $8.23 billion in 2023 to $9.04 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%.
The surge in the historical period can be attributed to factors such as agricultural intensification, the implementation of precision agriculture, global population growth, the diversification of crops, and an increased awareness of environmental concerns.

The liquid fertilizers market size is expected to see rapid growth in the next few years. It will grow to $13.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated growth in the forecast period can be linked to government subsidies, efforts in climate change adaptation, the integration of biostimulants, reduction of greenhouse gas emissions, and the activation of biological nutrients. Noteworthy trends in the forecast period encompass a rising demand for organic liquid fertilizers, microbial inoculants, tailor-made nutrient solutions, bio-based fertilizers, and the adoption of smart farming technologies.

The liquid fertilizers market is poised for growth, propelled by the upward trajectory in the agricultural sector. This sector encompasses activities such as crop cultivation, animal husbandry, and fish harvesting. Liquid fertilizers play a pivotal role in providing essential nutrients to crops shortly after planting, ensuring rapid absorption and robust plant health. The surge in the agricultural sector is evident, with the Economic Survey of India reporting a 3.6% growth in 2020-21, projected to reach 3.9% in 2021-22. Consequently, the flourishing agricultural sector is a key driver fueling the expansion of the liquid fertilizers market.

The escalating global population is expected to drive the demand for liquid fertilizers. The term 'increasing population' denotes a rise in the overall number of individuals residing in a specific area or region. Liquid fertilizers play a crucial role in supporting heightened productivity, improving crop quality, and mitigating the environmental impact of farming. These advantages contribute to food security and cater to the nutritional requirements of a growing global population. According to the United Nations, the world's population is anticipated to surge by nearly 2 billion individuals in the next 30 years, reaching 9.7 billion by 2050. Thus, the rising global population is poised to be a significant factor propelling the growth of the liquid fertilizers market.

A noteworthy trend in the liquid fertilizers market is the emergence of product innovations. Major industry players are channeling their efforts into developing innovative products to fortify market growth and bolster their product portfolios. For example, Indian Farmers Fertilizer Cooperative Ltd. introduced the world's first liquid nano-DAP (di-ammonia phosphate) fertilizer in April 2023. This innovative product serves as a high-quality nitrogen and phosphorus source, addressing deficiencies in plants.

Major companies in the liquid fertilizers market focus on product innovation, particularly in the realm of water-soluble micronutrients and N-P-K fertilizers. These innovations aim to enhance crop nutrient availability and application efficiency. ICL Group Ltd., an Israel-based company, launched a sophisticated line of foliar and fertigation solutions under their Nova brand of water-soluble fertilizers in North America. These products, such as Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, are engineered to maximize solubility, ensuring compatibility with herbicides and crop protectants while delivering high-purity, water-soluble N-P-Ks and micronutrients tailored to crop nutrient demands.

In July 2021, ICL Group Ltd. acquired Compass Minerals America do Sul SA, a Brazil-based specialty plant nutrition company. This acquisition positions ICL as a leading specialty plant nutrition company in Brazil, aligning with its long-term goal of global leadership in the Innovative Ag Solutions division and advancing its strategy of achieving leadership positions in high-growth specialty plant nutrition markets.

Major companies operating in the liquid fertilizers market include Nutrien Ltd., Dolls Exports Private Limited, AgroLiquid, CF Industries Holdings Inc., Compo Expert GmBH, EuroChem Group AG, FoxFarm Soil & Fertilizer Company, ICL Group Ltd., Kugler Company, Nutri Tech Solutions, OCP Group, Plant Fuel Nutrients LLC, The Mosaic Company, Yara International ASA, Agrium Inc., Brandt Group of Companies, Compass Minerals International Inc., Coromandel International Ltd., Deepak Fertilisers and Petrochemicals Corporation Ltd., Grasshopper Lawns Inc., Gujarat State Fertilizers & Chemicals Ltd., Haifa Group, Indian Farmers Fertiliser Cooperative Ltd., Israel Chemicals Ltd., JCAM Agri Co. Ltd., Koch Industries Inc., LiquidPower Specialty Products Inc., Miller Chemical & Fertilizer LLC, Alpine Plant Foods Corporation, Nutra-Flo Company, Plant Food Company Inc., RLF Ltd., Sociedad Química y Minera de Chile, Tessenderlo Kerley Inc.

Asia-Pacific was the largest region in the liquid fertilizers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the liquid fertilizers market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the liquid fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The liquid fertilizers market consists of sales of liquid fertilizer products such as calcium nitrate and potassium hydroxide. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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