Market Trends of Europe Liquid Fertilizers Industry
Rising Importance of Precision Farming Drives the Market
- Precision farming is an approach where inputs are utilized in precise amounts to get increased average yields, compared to traditional cultivation techniques. Rising food security concerns due to changing climatic conditions, increasing population, and decreasing arable land availability is the primary factor bolstering the adoption of precision farming practices in the region. This, in turn, drives the market for liquid fertilizers as they provide an array of benefits to modern farmers that lead to improved crop response to the availability of nutrients and better productivity.
- Liquid fertilizers distribute nutrients to crops in equal proportions and seep quickly through the soil profile, resulting in deeper penetration of essential nutrients. They also help farmers save workforce costs and other handling expenses, as liquid fertilizers can be applied using the irrigation system without requiring heavy equipment. Due to the formulation of liquid fertilizers, their application is less affected by weather conditions, resulting in more working days available and greater flexibility during busy periods.
- Besides this, governments of various countries in the region support precision farming through multiple interventions like rural development investments, farm advisory services and training, and eco-scheme payments. Such initiatives will likely provide a thrust to the growth of the market in the coming years.
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France Dominates the European Liquid Fertilizers Market
- France is one of the countries in the European Union (EU) with deficient potassium salt levels in its soil. These soils require applications of significantly more potassium than that removed in the harvested crop to increase soil reserves and soil fertility. Therefore, the increased consumption of potassium fertilizers has escalated the demand for liquid potassium fertilizers in the country.
- Furthermore, due to rising environmental consciousness, there is a significant rise in the need for organic liquid fertilizers with high yields to protect soil and ecological health. Moreover, modern farmers focus on the foliar application of liquid fertilizers as an effective mode of application in horticulture, viticulture, and various field crops.
- Besides this, due to an ongoing Nitrate Action Program in France aimed at protecting the water resources from the pollution caused by nitrates from agricultural sources, farmers are encouraged to use liquid fertilizers instead of solid ones. Liquid fertilizers allow better control of nutrient application rates, minimizing the risk of nitrate leaching and runoff into water bodies. Therefore, the country's liquid fertilizers market will likely witness healthy growth during the forecast period due to the abovementioned factors.
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