The market, estimated at USD 2.3 million in 2016, is expected to register a CAGR of 2.8% over the forecast period. The market is highly fragmented, with many small and large players present across different geographical regions. Liquid fertilizers account for 10% of the global fertilizers market. The requirement of accurate application of fertilizers is majorly driving the demand for liquid fertilizers. Its ease of application and ease of blending with other nutrients further increases the demand for these products.
Increasing population and decreasing arable land are leading to a growing inclination toward precision agriculture. Liquid fertilizer application forms a major part of precision agriculture, as it makes the application of fertilizers easier and also provides the option of mixing other nutrients beneficial for crops. Recently, Yara International published an article, where it was reflected that farmers chose liquid fertilizers mainly for its accuracy and ease of application.
The market for liquid fertilizers is very competitive in Europe. Various companies, like Haifa, ICL, Yara, and Borealis, are constantly involved in the introduction of new products, as well as production expansion, to consolidate their market position in Europe. Recently, Valagro, a leading biostimulant producing company, signed an agreement with SBM Company, under which SBM will take over the marketing and sales activities of Valagro in the US and European markets.
Major Players: Yara International, Nutrien, Profert, Andersons Inc., ICL, SQM, ILSA, Valagro, and Haifa, among others.
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