Global Liquid Potassium Fertilizers Market Size 2024, Forecast To 2033
6 Mar, 2024
The liquid potassium fertilizers market size has seen robust growth in recent years, increasing from $1.81 billion in 2023 to $1.91 billion in 2024, with a compound annual growth rate (CAGR) of 5.4%. This growth is attributed to increased global population, intensive farming practices, shift in dietary patterns, water-soluble fertilizers adoption, and focus on crop yield and quality. Looking ahead, the market is expected to see strong growth, reaching $2.33 billion by 2028, with a CAGR of 5.0%. Growth in the forecast period can be attributed to global expansion of agriculture, demand for high-value crops, environmental sustainability concerns, precision agriculture adoption, and government initiatives in agriculture. Major trends in the forecast period include market expansion in developing agricultural regions, adoption of drip irrigation systems, government initiatives supporting sustainable agriculture, investments in research and development, and enhanced nutrient uptake efficiency.
Global Liquid Potassium Fertilizers Market Key Driver
Rising demand for agrochemicals is expected to propel the growth of the liquid potassium fertilizers market going forward. Agrochemicals refer to chemical substances used in agricultural practices to improve crop production, protect crops from pests, diseases, and weeds, and preserve harvested crops. It includes fertilizers, pesticides, herbicides, insecticides, fungicides, and other chemicals used in agriculture. Liquid potassium fertilizers are commonly used agrochemicals to provide crops with potassium, which is an essential nutrient for plant growth and development. Potassium is required for many plant processes, including photosynthesis, the regulation of water balance, and the activation of enzymes. Deficiencies in potassium can lead to stunted growth, reduced yields, and lower-quality crops. So, these factors boost the liquid potassium fertilizers market. For instance, in October 2023, according to Agronews, a China-based agrochemical news provider, the aggregate sales of pesticides among the major 20 reached US$85.762 billion in the fiscal year 2022, up 18.18% from US$72.569 billion in the previous year. Therefore, the rising demand for agrochemicals is driving the liquid potassium fertilizers market.
Get A Free Sample Of The Global Liquid Potassium Fertilizers Market ReportGlobal Liquid Potassium Fertilizers Market Segments
The liquid potassium fertilizers market covered in this report is segmented –
1) By Nutrient Type: Sulfate Of Potash, Potassium Acetate, Potassium Chloride, Potassium Nitrate, Potassium Carbonate, Potassium Citrate, Potassium Format
2) By Type: Organic, Synthetic
3) By Crop Type: Cereals And Grains, Fruits And Vegetables, Oilseeds And Pulses, Other Crop Types
4) By Mode Of Application: Soil, Foliar, Fertigation, Other Mode Of Applications
By Geography:The regions covered in the liquid potassium fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the liquid potassium fertilizers market in 2023. The regions covered in the liquid potassium fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Liquid Potassium Fertilizers Industry Players
Yara International Asa, Agro Liquid, Nufarm Ltd., Nutrien Ltd., EuroChem Group AG, Sociedad Química y Minera de Chile, The Mosaic Company, Israel Chemical Ltd., Foxfarm Soil And Fertilizer Co., Kugler Company, K+S Aktiengesellschaft, Valagro S.p.A, Compo Expert GmbH, Adama Agricultural Solutions, BASF SE, CF Industries Holdings Inc., Agrium Inc., Haifa Group, Helm AG, Sinofert Holdings Limited, Van Iperen International, Plant Food Company Inc., Miller Chemical & Fertilizer LLC, Nachurs Alpine Solutions, Agro Bio Chemicals, Agzon Agro, Plant Fuel Nutrients LLC, Nutri-Tech Solutions, Valagro SPA, Uralchem Holding PLC
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Liquid Potassium Fertilizers Market Overview
Liquid potassium fertilizers refer to water-soluble solutions that contain a high concentration of potassium in a liquid form that is easily absorbed by plants. They are used to provide potassium to plants to support their growth, flowering, and fruiting processes.
Liquid Potassium Fertilizers Global Market Report 2023 provides data on the global liquid potassium fertilizers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The liquid potassium fertilizers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.