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At What Rate is the Fertigation & Chemigation Market Predicted to Expand Between 2024 and 2033?

In the past few years, there has been a substantial growth in the market size of fertigation & chemigation. The market is predicted to expand from $42.64 billion in 2023 to $46.05 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. The adoption of precision agriculture, worries about water scarcity, increased agricultural productivity requirements, government-backed initiatives and subsidies, and environmental sustainability have all contributed to this rapid growth during the historical period.

In the coming years, the fertigation & chemigation market is projected to experience substantial growth, reaching a value of $60.67 billion by 2028, with a compound annual growth rate (CAGR) of 7.1%. Factors contributing to this growth during the forecast period include adaptations for climate change, an increase in demand for controlled-release fertilizers, expansion in the horticulture sector, a growing global population, and wider acceptance of greenhouse farming. Key trends to watch during this forecast period include developments in digital farming platforms, advancements in smart agriculture technologies, tailored nutrient programs, variable rate technology (vrt), remote monitoring and control, automation, and intelligent farming.

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What Forces Are Boosting the fertigation & chemigation Market’s Growth?

The expansion in vegetable cultivation is anticipated to spur the growth of the fertigation and chemigation market in the future. Vegetables are defined as edible parts of a plant including leaves, roots, stems, and blooms. Drip irrigation, which minimises the water contact with above-ground crop parts (leaves, stems, and fruit), thereby reducing the risk of crop diseases, is the most used method of fertigation in vegetable farming. For example, Statistics Canada, a Canadian government agency, reported in 2023 that total vegetable production in the country grew by 3.7% in 2022, resulting in farm-gate sales of $1.6 billion. Moreover, data from Knoema, a US enterprise offering an integrated data management platform and AI toolkit, showed that worldwide vegetable production rose from 1,138 million tons in 2020 to 1154 million tons in 2021. Therefore, the escalating need for vegetable production is fueling the growth of the fertigation and chemigation market.

What Key Segments Make Up the Fertigation & Chemigation Market?

1) By Technique: Drip, Other Techniques

2) By Input Type: Fertilizers, Insecticides, Fungicides, Herbicides, Other Input Types

3) By Crop Type: Food Crops, Cash Crops, Horticulture Crops, Plantation Crops, Turf and Ornamental, Other Crop Types

4) By End Use: Agriculture, Horticulture, Greenhouse, Other End Users

What Are the Latest Trends Impacting the Fertigation & Chemigation Market?

Technological innovations have become a prominent trend in the fertigation and chemigation market. Dominant firms in this sector are introducing enhanced disc designs to maintain their market standing. For example, in September 2022, a specialty minerals company based in Tel Aviv, Israel released eqo.x, an innovative swiftly biodegradable release technology tailored for open-field agriculture. This new release will help farmers to elevate their agricultural crop yield whilst reducing the environmental impact by decreasing nitrogen waste and boosting nutrient use efficiency, or NUE, by up to 80%. It is the only product in the market that provides a controlled release fertilizer (CRF) coating for urea that biodegrades faster. This new method will be employed to minimize nitrogen losses in ICL’s CRF offerings for agricultural crops, such as those marketed under the Agromaster and Agrocote brands.

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What Regions Are Dominating the Fertigation & Chemigation Market Growth?

Europe was the largest region in the fertigation and chemigation market in 2023. North America is expected to be the fastest-growing region in the global fertigation and chemigation market during the forecast period. The regions covered in the fertigation & chemigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Fertigation & Chemigation Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the fertigation & chemigation market, its market share, and analyzes key competitors along with their market positions.

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 Template 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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