Market Size of Europe Liquid Fertilizers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Liquid Fertilizer Market Analysis
The European liquid fertilizer market is currently valued at USD 5190 million and is projected to register a CAGR of 4.5% over the next five years.
- In recent years, there has been a rapid rise in the demand for high-efficiency fertilizers due to declining arable land and increasing food security concerns. According to a survey published by UNICEF in 2022, the percentage of the population who experienced severe food insecurity increased from 0.9% in 2019 to 1.5% in 2021 in Northern America and Europe. Moreover, arable land in Europe is steadily declining.
- According to a report published by the European Commission in November 2018, agricultural land is estimated to cover 42% of all European Union (EU) land area in 2015. Within 2015-2030, the EU agricultural land is projected to shrink by 1.1%, chiefly driven by the decline in arable land and livestock grazing by 4.0% and 2.6%, respectively. Therefore, the demand for liquid fertilizers in Europe is increasing as they help efficiently use plant nutrients while minimizing environmental issues.
- The growing adoption of precision farming and sustainable agricultural practices in European countries is another considerable factor driving the use of liquid fertilizers to improve crop response from accuracy and availability of nutrients to the crop. Besides this, the labor shortage is a major problem faced by the European agriculture industry, escalating the need for precision farming and, consequently, liquid fertilizers as one of the most appropriate chemical inputs for labor-sensitive agriculture practices.
- Moreover, companies adopt unique strategies to expand their regional consumer base and market share. For instance, in 2021, the NordFert company opened its new factory in Estonia, intending to increase its production and supply of products and market share in the Northern European Region.
- Therefore, the abovementioned factors will provide immense growth opportunities to market players and impact the market positively in the coming years.
