Liquid Fertilizers Market Size, Share & Industry Analysis, By Nutrient Type (Nitrogen, Potassium, Phosphate, and Micronutrients), By Mode of Application (Foliar, Soil, Fertigation, and Others), By Major Component (Calcium Ammonium Nitrate, Urea Ammonium Nitrate, Potassium Nitrate, Phosphorous Pentoxide, and Others), By Crop Type (Grains & Cereal Crops [Wheat, Corn, and Others], Oilseeds & Pulses [Soybean, Cotton, and Others], Fruits & Vegetables and Others), and Regional Forecast, 2024-2032

The global liquid fertilizers market size was valued at USD 2,771.86 million in 2023. The market is projected to grow from USD 2,885.23 million in 2024 to USD 4,123.96 million by 2032, exhibiting a CAGR of 4.57% during the forecast period. Asia Pacific dominated the liquid fertilizers market with a market share of 49.02% in 2023.

Liquid fertilizers are water-soluble fertilizer solutions that contain essential nutrients for plant growth, such as nitrogen (N), phosphorus (P), and potassium (K), as well as micronutrients, such as iron (Fe), zinc (Zn), and manganese (Mn). They are specially designed to be diluted with water and applied directly to the soil or foliage of plants. Emerging markets are increasingly adopting modern farming technologies and techniques, including precision agriculture and protected cultivation. They are well-suited for these advanced farming practices, as they enable precise nutrient application and can be easily integrated into irrigation systems.

The usage of liquid fertilizers during the COVID-19 pandemic declined compared to the pre pandemic period. Limited production and supply chain disruptions are the major factor which impacted the sales and availability of the products in the market. Moreover, retail sales channels were unable to operate smoothly during the pandemic due to lockdown restriction imposed by governments in respective countries limiting farmer’s ability to access such product which negatively impacted the overall sales.   

Liquid Fertilizers Market Trends

Increasing Focus on Sustainable and Eco-Friendly Solutions to Influence Market Growth

The trend toward sustainable and eco-friendly solutions in agriculture is driving the growing demand for these products. Recently, there has been increasing adoption of organic-based products made from natural sources such as plant extracts, animal manure, compost, and bio-based additives. These sustainable formulations provide essential nutrients while also contributing to soil health and microbial activity, promoting long-term agricultural sustainability. They are derived from organic waste streams, such as municipal solid waste, agricultural residues, and industrial by-products, are being developed to promote circular economy principles. These waste-derived fertilizers provide nutrients and also contribute to waste management and resource recovery.

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Liquid Fertilizers Market Growth Factors

Rapid Growth in Greenhouse Vegetable Production to Support Market Growth

The rapid growth in greenhouse vegetable production is a key driver for the market. Greenhouse farming offers a controlled environment that enables plants to grow more efficiently and produce higher yields per unit area than traditional open-field cultivation. Greenhouse farming optimizes the use of resources such as water, nutrients, and land. Liquid fertilizers can be precisely applied through irrigation systems (fertigation) in greenhouses, minimizing wastage and maximizing nutrient uptake by plants. The combination of higher yields, year-round production, and efficient resource utilization makes greenhouse farming a profitable venture, encouraging growers to invest in this technology.

Growing Adoption of Precision Farming and Protected Agriculture to Fuel Liquid Fertilizer Market Growth

The rising trend toward precision farming and the increase in greenhouse vegetable production is driving the adoption of such products, which can be applied more precisely and efficiently. Precision farming techniques, which utilize advanced technologies, such as GPS, sensors, and drones, allow for more targeted and efficient application of inputs, such as fertilizers, based on specific soil conditions and crop needs. With precision farming, they can be applied with pinpoint accuracy, minimizing wastage and maximizing nutrient uptake by plants. This tailored approach enables farmers to optimize nutrient delivery and address localized challenges, ultimately boosting agricultural productivity and yields.

RESTRAINING FACTORS

High Handling and Storage Costs as well as Lack of Awareness among Farmers to Hamper Market Growth

They require special handling and storage facilities, which increases the cost of mixing nutrients in water and transporting them. The high cost of installation and problems in storing such fertilizers are major factors restraining market revenue growth. Moreover, there is a lack of knowledge regarding the proper use of these products in accurate proportions among farmers, especially in regions such as the Middle East & Africa, which is restricting market growth.

Liquid Fertilizers Market Segmentation Analysis

By Nutrient Type Analysis

Nitrogen is the Leading Nutrient Due to its High Consumption

By nutrient type, the market has been segmented into nitrogen, potassium, phosphate, and micronutrients. The nitrogen segment is expected to hold the major share of the global market. Nitrogen is one of the essential nutrients for optimal plant growth.  According to the International Fertilization Association, in 2022, global nitrogen consumption reached 109,292 thousand tons. Insufficient nitrogen in the soil can decrease both the quantity and quality of crop yields, driving demand for liquid nitrogen fertilizers. Compared to solid fertilizers, liquid nitrogen fertilizers are substantially cheaper and easier to apply. Fruits and vegetables are nitrogen-intensive crops that require significant amounts of nitrogen fertilization. Nitrogen is essential for plant growth, as it is used to build amino acids and proteins.

The potassium segment is expected to be the fastest-growing segment in the global market. Liquid potassium fertilizers are designed to provide plants with the nutrients they need during early growth stages. They are frequently used when seeding or transplanting new plants to promote growth and overall plant health.

The phosphorous segment is expected to grow moderately during the forecast period. The rapid expansion of the horticulture sector, especially in developed countries such as the U.S. and Canada, is leading to increased use of liquid phosphorus fertilizers due to the high profit margins associated with fruit and vegetable cultivation.

By Mode of Application Analysis

Fertigation Leads Due to its Uniform Distribution and Optimized Nutrient Uptake

Based on mode of application, the market is segmented into foliar, soil, fertigation, and others.

The fertigation segment is expected to hold a major share of the global market. Fertigation involves injecting liquid fertilizer solutions directly into the irrigation water, which is then distributed to plants through the irrigation system. Fertigation ensures uniform distribution of nutrients throughout the plants, resulting in optimized nutrient uptake and balanced growth. It allows for precise control over nutrient application rates and timing to meet the specific requirements of crops at different growth stages. The growing awareness regarding the benefits of fertigation in restoring soil nutrients and improving overall soil fertility is driving the sales momentum of these products.

The foliar segment is expected to grow significantly in the forecast period. Farmers increasingly prefer foliar fertilizers due to their ability to enhance plant health and vitality by bypassing soil deficiencies. The targeted nutrient delivery and quick absorption provided by foliar application make it an attractive option. The foliar application segment is anticipated to continue its strong growth trajectory, supported by the increasing demand for high-quality crops, the rising popularity of eco-friendly agricultural practices, and the overall liquid fertilizers market growth.

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By Major Component Analysis

Urea Ammonium Nitrate Dominates Due to Ease of Application and Balanced Nutritional Profile

By major component, the market is segmented into calcium ammonium nitrate, urea ammonium nitrate, potassium nitrate, phosphorous pentoxide, and others.

The urea ammonium nitrate is expected to hold a major liquid fertilizers market share globally. UAN has been gaining growth for its application in fertigation methods, which involves applying fertilizer and water through irrigation systems. Fertigation is a profitable agriculture technique that offers numerous benefits, such as increasing yield capacity and minimizing environmental pollution. UAN is easy to apply through irrigation systems, making it a popular choice among farmers and further fueling its demand in the market.

The calcium ammonium nitrate segment is expected to grow significantly in the forecast period. CAN provides a balanced supply of fast-acting nitrate nitrogen and slower-release ammonium nitrogen. This ensures plants have a steady supply of nitrogen throughout their growth cycle, minimizing nitrogen losses and reducing the need for excessive fertilizer applications. CAN to be used as a base fertilizer before or during sowing, as a seed fertilizer mixed with seeds, as a top-dressing fertilizer during plant growth, or as a foliar fertilizer sprayed on leaves. It is suitable for all types of crops and soils.

The potassium nitrate segment is expected to grow moderately in the forecast period. Potassium nitrate can be applied as a liquid through drip irrigation, foliar sprays, fertigation, and top-dressed or side-dressed. Its high solubility allows for concentrated solutions, making it suitable for various application methods and timing.

By Crop Type Analysis

Grains & Cereal Crops Segment to Hold Significant Share Owing to Their High Global Demand and Large-Scale Cultivation

By crop type, the market is segmented into grains & cereal crops, oilseeds & pulses, fruits & vegetables, and others.

The grains & cereals segment, which is further segmented into wheat, corn, and others, is expected to hold a major share of the global market. Grains & cereals are essential components of the global food supply, consumed by billions of people worldwide. Due to the increasing population, the demand for food grains remains consistently high, making nutrient management critical to achieving optimal yields. According to the World Bank Group, the global cereal production recorded 3.06 billion tons in 2022. They are versatile and can be applied through traditional methods or modern precision agriculture techniques, catering to the specific needs of different grain and cereal varieties. This flexibility in nutrient delivery offers a wide range of benefits to farmers.

The fruits & vegetables segment is expected to grow significantly in the forecast period. The trend of consuming fruits has witnessed significant growth in the past two decades, and is projected to continue in the coming years. According to the Food and Agriculture Organization (FAO), global fruit production accounted for 933.04 million tons compared to 922.66 in 2021. The increasing exports of fruits & vegetables have led to an increase in the crop plantation area, resulting in a rise in their production levels. This, in turn, is projected to drive the crop protection chemicals market for fruits & vegetables, which is expected to witness significant growth.

REGIONAL INSIGHTS

The market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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Asia Pacific’s market size was valued at USD 1,358.69 million in 2023 and accounted for the highest market share in 2023 globally. Asia Pacific is home to some of the world's most populous countries, such as China and India, driving substantial agricultural activity and creating massive demand for fertilizers to enhance crop yields. The region has a wide range of crops and farming practices, leading to demand for various fertilizers tailored to specific soil and crop requirements. Major crops include rice, sugar beet, fruits & vegetables, cereals, and grains. There is a growing advancement of automated irrigation systems in the region, which is increasing the demand for these products.

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North America is expected to grow significantly in the coming years. The increasing demand for highly efficient fertilizers across North America is a major driver for the fertilizer market. The implementation of protected agriculture, such as greenhouses and hydroponics, is also contributing to the growth of the market in the region. While synthetic products still dominate the market, the organic segment is projected to grow at a faster pace due to increasing consumer awareness and government support for sustainable agriculture. Manufacturers are launching innovative products in order to meet the rising demand. For instance, in October 2021, The Andersons, Inc., an American agri-business, launched its first OMRI Listed liquid fertilizer. The new product is specifically designed to be used as a high phosphorus row starter.

Europe’s market is expected to grow moderately in the forecast period. The adoption of precision farming and sustainable agricultural practices in Europe is increasing the use of such products. They help in the efficient use of plant nutrients while minimizing environmental issues. Labor shortages in the European agriculture industry are also escalating the need for precision farming and support increased use of such fertilizers. In summary, these fertilizers support sustainable agriculture in Europe by enabling precision application, targeted nutrient delivery, and reduced environmental impact, compatibility with protected agriculture, organic options, and alignment with precision farming practices.

South America’s liquid fertilizer market is expected to witness steady growth in the coming years. The region's extensive cultivation of sugarcane, soybean, and corn is a major driver, as these crops deplete soil nutrients and require efficient fertilizers to maintain yields. According to the United States Department of Agriculture (USDA), Brazil produced 153,000 (000 tons) of soybeans for the year 2023/24. There is a growing need for products that can provide a quick and efficient nutrient supply to plants, especially in response to soil nutrient depletion and micronutrient deficiencies. In summary, the combination of agronomic factors, such as soil nutrient depletion, the rise of high-value crops, and the adoption of precision farming, along with economic and demographic drivers like government support and population growth, are the key forces propelling the market forward in South America.

The demand for liquid fertilizers in the Middle East & African countries is expected to grow substantially in the coming years. Governments in the region are investing in initiatives to improve agricultural productivity in order to reduce reliance on food imports. Liquid fertilizers can play a role in these initiatives by helping to increase crop yields. However, poor transportation infrastructure and limited access to markets make it difficult for smallholder farmers to obtain and apply liquid fertilizers in many parts of Africa.

KEY INDUSTRY PLAYERS

Key Industry Players Investing in New Facilities to Increase Output and Gain Higher Market Share

The liquid fertilizer market has a fragmented structure, with several key players operating at the global and regional levels. While there are a few large multinational companies, the market also includes many smaller regional and local players.  Some of the major players include Nutrien Ltd., Yara International, ICL Group, CF Industries Holdings, Inc., and others. Manufacturers are building new facilities or increasing the output of existing ones to meet the anticipated demand for liquid fertilizers. Therefore, by constructing new facilities or expanding existing ones, manufacturers can significantly boost their production capacity to meet the growing demand for liquid fertilizers. For instance, in May 2024, BP Bunge Bioenergia S.A., specializing in bioenergy and sugar business production, invested USD 4.30 million for the construction of its first liquid fertilizer plant in order to meet the company’s demand for inputs.

List of Top Liquid Fertilizers Companies:

• Nutrien Ltd. (Canada)


• Yara International ASA (Norway)


• Peptech Biosciences Ltd. (India)


• Foxfarm Soil & Fertilizer Co. (U.S.)


• Benefert B.V. (Netherlands)


• ICL Group (Israel)


• Mahafeed Speciality Fertilizers (India) Pvt. Ltd. (India)


• CF Industries Holdings, Inc. (U.S.)


• The Mosaic Company (U.S.)


• Kugler Company (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023: Al-Aflaj International Co., a private sector firm based in Oman, signed a Memorandum of Understanding with Saudi Arabia’s Investment to establish a fertilizer plant in the Kingdom to boost its agriculture production. The new plant would produce liquid fertilizers that provide soluble crop nutrients, helping the Kingdom reach its Vision 2030 goals and targets for the agriculture sector.


• March 2023: Agro-100 Limited., a researcher, manufacturer, and marker of high-tech agricultural inputs, completed investment in a new liquid production plant. This new production plant offered a strategic and competitive advantage to the company.


• February 2023: Vantage AG, a manufacturer and distributor of new liquid fertilizer technology, launched its first product from its proprietary nanotechnology platform. The new product is made from liquid sulfur and contains sulfur particles that are less than a nanometer in size, which offers quick nutrient absorption and metabolization by plants.


• December 2022: Meghmani Organics, one of the leading agrochemical manufacturing companies, announced that their wholly owned subsidiary, MCNL, entered into a licensing agreement with one of the leading domestic fertilizer manufacturers for the production of nano urea fertilizers by using their domestically developed patented technology. The new product is a liquid fertilizer that is effective in enhancing crop productivity and nutritional quality and is also environmentally safe.


• March 2021: Compass Minerals, one of the leading global providers of essential minerals, launched Hydro Bullet, a new liquid foliar fertilizer product line. The latest product helps plants to discover their full agronomic potential.

REPORT COVERAGE

The market research report includes quantitative and qualitative insights into the market. This report covers a detailed regional analysis of the market sizes, statistics, global trends, regional forecast, global share, and rate for all possible market segments. It also provides various key insights on the market, an overview of related markets, the competitive landscape, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key industry trends.

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Report Scope & Segmentation