Liquid Fertilizers Market Trends

Growth Drivers

• Rising Prevalence of Food Starvation with Increasing Poverty – There is a need for more food in order to feed a growing population by increasing the output per acre of land. Hence, it is anticipated to increase the growth of the global liquid fertilizers market. As per a report released by the Food and Agriculture Organization of the United Nations, approximately 702 million to 828 million people worldwide were estimated to have suffered from starvation in 2021.
• Worldwide Initiative to Grant Funding for Food Security Programs - Ensuring access to safe and nutritious food, as well as sustaining food security in moments of crisis, is crucial to ensuring future generations’ prospects. Hence, it is projected to drive the growth of the global market. According to the data provided by the World Bank, the Global Agriculture and Food Security Program (GAFSP) has provided nearly USD 1.3 billion in grants to over 66 agribusiness projects in 27 countries, as well as USD 13.2 million to producer organizations, reaching more than 13 million smallholder farmers and their families.
• Growth of the Fertilizers Industry Owing to Increasing Agricultural Land - For instance, more than 42 million metric tonnes of fertilizers re estimated to be produced in India in the year 2022.
• Increasing World Population Rising the Demand for Food Crops – The world’s growing population is propelling the demand for food grains. Therefore, it is expected to boost the growth of the global liquid fertilizers market. According to the data provided by the United Nations, the worldwide population is estimated to reach 8.5 billion in 2030 and 9.7 billion in 2050.
• Increasing Demand for Domestic Cattle Owing to Rising Production of Animal Products – Meat production across the world every year meets more than 300 million tonnes as per the estimations.

Challenges

• More Expensive than Granular Fertilizers
• High possibility to Evaporate into the Atmosphere
• Liquid fertilizers evaporate into the atmosphere or turned into a gas and will last for one to two weeks in the soil. It is estimated that over 35% of urea is evaporated into the atmosphere as ammonia gas which is referred to as volatilization. The fast volatilization of liquid fertilizers hinders the demand for market growth.
• Shorter Shelf-Life