Liquid Fertilizer Market to Grow by USD 1.66 Billion during 2019-2023 | Technavio
According to Technavio Research Report "Liquid Fertilizer Market by type and geography is witnessed to grow USD 1.66 billion, at a CAGR of 3%.
Liquid nitrogen fertilizers to garner the highest share
Nitrogen liquid fertilizer is anticipated to contribute the highest share in the market during the forecast period as it plays a crucial role in providing nutrients to improve the overall plant health. Nitrogen fertilizers including ammonium nitrate (UAN) and calcium ammonium nitrate (CAN) support plant and leaf growth leading to improved vegetable and fruit production. In addition, the rising need for high crop yields will positively impact the demand for liquid nitrogen demand in the forthcoming years. Furthermore, the rising need to increase the productivity of arable lands is encouraging vendors to offer high-quality grades of liquid nitrogen fertilizers, which will boost market growth during the forecast period.
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Growing awareness of organic fertilizers to boost growth
Organic fertilizers decompose easily in the soil and help enrich the nutrient quality of the soil. In addition, they prevent environmental hazards including agricultural runoff and hypertrophication to a large extent. Thus, the use of organic fertilizers is cost-effective and environment-
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Liquid fertilizer market to witness fastest adoption in the APAC region.
With the rapid growth in population in the emerging economies, there has been an increase in agricultural activities to cater to the growing need for wheat, corn, vegetables, and fruits. In addition, the rising shift in preference from grain-based diet to high protein-based diet in emerging economies including India and China is further expected to drive the demand for nitrogen-based liquid fertilizers to facilitate production of high-yielding crops that are rich in protein.
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