The business of liquid fertilizers will observe a significant boom, with regards to revenue and sales, in the near future, on account of their soaring popularity among farmers for ensuring larger and healthier yields. The rising concerns over the limitations of granular fertilizers as they offer non-uniformity when dropped in patterns throughout fields have instigated a higher preference for their liquid counterparts. In fact, in order to ensure the quick growth of the root, farmers prefer liquidized solutions early in the season.
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Alongside offering advantages, like easy handling, application and blending, liquid fertilizers are known to seep into the soil as well as spread more uniformly. They hence give the fields an even consistency in terms of coating to make sure that the plants receive the same amount of nutrients irrespective of the location. These fertilizers can be broadcasted and incorporated as a mid-season side dress and in-band applications at planting. As they are injected into the soil, these products prevent the loss of plant nutrients.
Moreover, liquid fertilizers are ideal for balancing the pH of the soil on the basis of the chemicals they deliver. Taking cue of their increasing prominence, key product manufacturers are placing targeted efforts on innovations and several other collaborative measures to amplify their global presence. For instance, in February 2020, EuroChem made a binding offer to purchase the nitrogen fertilizer and melamine business from Borealis for $520 million.
On this note, it has been reported by recent estimates that the global liquid fertilizers market size will record an annual value of USD 27 billion by 2027.
Foliar application to record higher footprint
The demand for foliar applied liquid fertilizers is set to grow with time as it allows the farmer to make mid-season corrections for adding vital nutrients to plants in instances of incorrect mixtures during the beginning of the seasons. This technique can be applied to plants as it makes sure that the plant nutrients are absorbed through leaves and are readily available. It can also be applied through the ground to ensure that the roots absorb the nutrients.
The availability of foliar-applied nutrients is believed to not be continuous and short-lived for the rest of the growing season. However, the rising consumption of nitrogen fertilizers will contribute to various foliar applications of nitrogen, like sprays to offer more precise and immediate approaches for fruit set and early growth. According to estimates, farmers across the globe apply nearly 115 million tons of nitrogen to their crops every year.
Mounting demand for organic solutions
The significant advancements in the organic agriculture sector will commendably influence the demand for organic liquid fertilizers in the long run. It has been estimated that organic agriculture is practiced across 187 countries, and over 72.3 million hectares of agricultural land is organically managed by at least 3.1 million farmers. The growing regulatory support will favor the demand for organic fertilizers.
Liquid organic fertilizers are produced from agricultural residues as well as industrial wastes and have become increasingly popular. Their swelling demand for growing vegetables in hydroponic conditions is another impact rendering factor for the market growth.
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Lately, farmers are largely employing liquid fertilizers early in the season to ensure improved crop response from the accuracy and availability of nutrients. When blended with crop protection products, these fertilizers work within a single pass for a season. They are highly preferred over granular fertilizers for application as they are simple and less time-consuming.
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