The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Fertigation & Chemigation Global Market Report 2024 offers crucial insights into the fertigation & chemigation market help businesses analyse and build stronger strategies.

The fertigation and chemigation market has been experiencing significant growth, driven by technological advancements and the need for efficient agricultural practices. This blog delves into the current state of the market, future projections, and key trends shaping the industry.

Current Market Growth

• Market Size Increase: The fertigation and chemigation market grew from $42.64 billion in 2023 to $46.05 billion in 2024, reflecting a robust CAGR of 8.0%.
• Key Growth Drivers:
  • Precision Agriculture: Adoption of precision agriculture techniques.
  • Water Scarcity Concerns: Efficient water management practices.
  • Agricultural Productivity: Increasing demands for higher productivity.
  • Government Initiatives: Support through subsidies and policies.
  • Environmental Sustainability: Focus on sustainable agricultural practices.

Future Market Projections

• Continued Expansion: The market is projected to reach $60.67 billion by 2028, growing at a CAGR of 7.1%.
• Growth Factors:
  • Climate Change Adaptation: Need for resilient agricultural practices.
  • Controlled-Release Fertilizers: Rising demand for fertilizers that release nutrients gradually.
  • Expanding Horticulture Sector: Growth in horticulture activities.
  • Global Population Growth: Increasing food demand.
  • Greenhouse Farming: Rising adoption of greenhouse farming techniques.

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Major Trends in the Forecast Period

• Digital Farming Platforms: Integration of digital tools in farming practices.
• Smart Agriculture Technologies: Use of advanced technologies for efficient farming.
• Tailored Nutrient Programs: Customizable nutrient solutions for crops.
• Variable Rate Technology (VRT): Precision application of inputs.
• Remote Monitoring and Control: Real-time monitoring and management.
• Automation and Smart Farming: Automated systems for improved efficiency.

Surge in Vegetable Production to Drive Market Growth

• Impact of Vegetable Production: Growing vegetable production is a key driver.
  • Statistics:
    • In Canada, vegetable production increased by 3.7% in 2022, with farm-gate sales reaching $1.6 billion.
    • Globally, vegetable production rose from 1,138 million tons in 2020 to 1,154 million tons in 2021.
• Market Response: Increased demand for drip irrigation systems in vegetable farming to enhance water efficiency and reduce disease risks.

Technological Advancements Driving Innovation

• Innovation in Fertigation and Chemigation: Companies are developing advanced solutions.
  • Example: In September 2022, ICL Group launched eqo.x, a biodegradable release technology for open field agriculture.
    • Benefits:
      • Reduces nitrogen waste.
      • Increases nutrient use efficiency (NUE) up to 80%.
      • Controlled release fertilizer (CRF) coating for urea that biodegrades quickly.

Strategic Acquisitions Strengthen Market Presence

• Valmont Industries’ Acquisition: In May 2021, Valmont Industries acquired Prospera Technologies for $300 million.
  • Benefits:
    • Creation of a subscription model for autonomous irrigation management.
    • Solutions to lower costs, increase yields, and save time for growers.

Market Segmentation

• By Technique:
  • Drip
  • Other Techniques
• By Input Type:
  • Fertilizers
  • Insecticides
  • Fungicides
  • Herbicides
  • Other Input Types
• By Crop Type:
  • Food Crops
  • Cash Crops
  • Horticulture Crops
  • Plantation Crops
  • Turf and Ornamental
  • Other Crop Types
• By End Use:
  • Agriculture
  • Horticulture
  • Greenhouse
  • Other End Users

Regional Insights

• Europe: Largest market in 2023.
• North America: Expected to be the fastest-growing region during the forecast period.

Key Market Players

• Leading Companies: Jain Irrigation Systems Ltd., Lindsay Corporation, Netafim Global, Rain Bird Corporation, Rivulis Irrigation Ltd., T-L Irrigation Company, EPC Industries, and others.
• Strategic Focus: Emphasis on technological innovation, sustainability, and strategic acquisitions to enhance market position.

Conclusion
The fertigation and chemigation market is poised for continued growth, driven by technological advancements, increasing vegetable production, and the need for efficient water and nutrient management practices. As the industry evolves, companies are focusing on innovation and strategic acquisitions to meet the growing demands and sustainability goals of modern agriculture. The future of this market looks promising with significant opportunities for growth and development.

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The Fertigation & Chemigation Global Market Report 2024  provides a comprehensive outlook of the fertigation & chemigation market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fertigation & chemigation market forecast offers a thorough analysis on fertigation & chemigation market size, fertigation & chemigation market share, prominent players and their strategies.

The Table Of Content For The Fertigation & Chemigation Market Include:
1. Fertigation & Chemigation Market Executive Summary
2. Fertigation & Chemigation Market Segments
3. Fertigation & Chemigation Market Size And Fertigation & Chemigation Market Growth Rate
4. Key Fertigation & Chemigation Market Trends
5. Major Fertigation & Chemigation Market Drivers
……
25. Key Mergers And Acquisitions In The Fertigation & Chemigation Market
26. Top Fertigation & Chemigation Companies
27. Fertigation & Chemigation Market Opportunities And Strategies
28. Fertigation & Chemigation Market, Conclusions And Recommendations
29. Appendix

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