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%.
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* Liquid Fertilizer Market

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* Elmhurst - Illinois - US

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ELMHURST, Ill. - Nov. 14, 2019 - PRLog -- 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% from 2019 to 2023".

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-friendly as they help in eliminating toxic residues from the soil and improve cultivation practices. Furthermore, other factors including the favorable government policies and subsidies, growing awareness about organic farming, and the increasing sale of organic food products are fostering the demand for organic fertilizers.

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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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Tags:Liquid Fertilizer Market
Location:Elmhurst - Illinois - United States
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