NEW YORK, Feb. 12, 2022 /PRNewswire/ — According to Technavio, the liquid fertilizer market is estimated to grow by USD 1.92 bn from 2020 to 2025. In addition, the report projects that the market will progress at a CAGR of 3.22%.
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Liquid Fertilizer Market: Drivers
The increasing demand for nitrogen-based fertilizer is one of the key factors driving the liquid fertilizer market growth. Moreover, the increasing agricultural activities across the world will drive the use of nitrogen-based liquid fertilizers during the forecast period, which, in turn, will boost the growth of the global liquid fertilizer market during the forecast period.
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Liquid Fertilizer Market: Challenges
Stringent regulation on the handling, storage, and transportation of liquid fertilizers is one of the key challenges to the global liquid fertilizer market growth. The contaminated or spilled fertilizer, if not treated properly, can create serious health and environmental issues. Moreover, decomposition during transportation and storage leads to the release of toxic gases and hazardous situations. Thus, major regulatory authorities such as the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA) have set regulations about the handling, storage, and transportation of solid ammonium nitrate, which need to be followed by the manufacturers and suppliers.
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Liquid Fertilizer Market: Segmentation Analysis
This market research report segments the liquid fertilizer market by type (nitrogen, phosphate, potassium, and micronutrients) and geography (APAC, North America, Europe, South America, and MEA). APAC led the liquid fertilizer market in 2021, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the significant increase in prevalence for a high protein-based diet in highly-populated countries such as China and India.
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Liquid Fertilizer Market: Vendors Analysis
AgroLiquid, Agrotiger Philippines Corp., COMPO EXPERT GmbH, EuroChem Group AG, FoxFarm Soil and Fertilizer Co., Israel Chemicals Ltd., K S AG, OCP SA, Sociedad Quimica y Minera de Chile SA, and Yara International ASA, among others, are some of the key vendors operating in the Liquid Fertilizer market. The key offerings of a few of these vendors are mentioned below:
AgroLiquid – The…
Read More: Liquid Fertilizer Market to Grow by USD 1.92 billion | AgroLiquid and