The Europe liquid fertilizer market size is expected to expand a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing focus on the agricultural industry in major countries in the region.
Liquid fertilizers are the chemicals that contain plant nutrients that are used to increase the quality or yield of plant growth. These fertilizers are injected into the ground in concentrated form to make the most of the fertilizer. It permits a long-term uptake of nutrients to the plants.
Liquid fertilizers are available in a variety of forms. Urea, ammonium nitrate, ammonium sulphate, and calcium nitrate are some of the liquid nitrogen nutrients. Additionally, a variety of nutrient combinations are produced and utilized to feed plants.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising use of liquid fertilizers facilitate crops with supply of nutrients at right time with least amount of waste. Thus, growing awareness about the same is expected to drive the market growth.
- Rising demand for liquid fertilizers owing its benefits such as immediate penetration in the soil immediately and improved access to the nutrients derives is anticipated to fuel the growth of the market growth.
- Growing usage of energy-efficient production technology to reduce greenhouse gas emissions are propelling the growth of the market in the projected timeline.
- High storage cost of liquid fertilisers and increased cost of installation can limit the market's growth.
- Expanding demand for food due to growing population has increased the usage of fertilisers.
- Major concerns such as pollution and contamination of soil, as well as their negative consequences on individuals and the ecosystem are creating challenges for the market growth. Thus, government state bodies are emphasising the use of soil-friendly fertilisers to combat these negative consequences. As a result, farmers are becoming more familiar with liquid fertilisers, which is expected to create lucrative opportunities for the growth of the market.
Key Players Covered in the Report
- Haifa Group
- ICL Fertilizers
- Yara International ASA
- Nutrient Ltd
- Tessenderlo Group
Competitive Landscape
Key players competing in the Europe liquid fertilizer market are Haifa Group; ICL Fertilizers; Yara International ASA; Nutrient Ltd; Tessenderlo. Companies are introducing new product offering to increase their foothold and strengthen their position in the market.
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