The liquid fertilizers market is set to showcase exponential growth by 2027 on account of extensive adoption of organic liquid fertilizers across key regions.
Liquid fertilizers supply nutrients that plants lack in an easy-to-apply form. Increased nitrogen, phosphate, potassium, and other nutrients help plants and turf grow strong enough to withstand pest infestation and diseases. Rising preferences for high-efficient liquid fertilizers worldwide has bolstered business growth in recent years.
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Notably, to cater to the escalating demand for organic food, industry players have been implementing strategic initiatives, which have positively impacted the global business outlook. For instance, in March 2021, Israel Chemical Ltd., a specialty chemicals and specialty minerals company, announced the acquisition of Compass Minerals America do Sul S.A., including its South American plant nutrition business.
The deal enabled ICL to strengthen its business in South America by leveraging Compass Mineral's robust presence in Brazil and its wide range of product offerings. Compass Mineral's product portfolio includes soil and foliar micronutrients, enhanced efficiency fertilizers, biostimulants, secondary nutrients, and adjuvants.
The liquid fertilizers market has been bifurcated based on production process, type, mode of application, and region. With respect to type, the market has further been categorized into phosphate, nitrogen, potassium, and micronutrients.
The potassium sub-segment is slated to generate a revenue of over USD 4 billion by the end of 2027, growing at a robust CAGR through the study timeframe. Surging demand for liquid potassium in foliar applications, along with frequent launches of new potassium fertilizer technologies, is likely to support market growth over the review period.
On the basis of mode of application, the liquid fertilizers market has been divided into foliar, soil, fertigation, and others. The foliar sub-segment is expected to progress at a CAGR of above 4% over the assessment period owing to its high efficacy in boosting plant growth at pivotal times. The foliar application is mostly used for providing liquid micronutrients fertilizers.
In terms of production process, the liquid fertilizers market has been bifurcated into inorganic and organic. The organic sub-segment is anticipated to be valued at more than USD 640 million by the end of 2027. Growing awareness about organic foods, coupled with mounting emphasis on the development of new inorganic products, is set to drive segmental expansion over the following years.
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From the regional point of view, the Europe liquid fertilizers market is speculated to gain a sizable valuation by 2027, expanding at a CAGR of approximately 2.6% through the analysis timeline. Mounting demand for organic fertilizers and prevalent need for high-value products, including nuts, vegetables, and fresh fruits, among others, are estimated to drive regional market growth.