Global Fertigation & Chemigation Market Overview And Statistic For 2024-2033
Fertigation & Chemigation Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 27, 2024 /EINPresswire.com/ — The global fertigation & chemigation market has demonstrated strong growth in recent years, with its size anticipated to increase from $42.64 billion in 2023 to $46.05 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.0%. Despite various challenges, the market is projected to expand further to $60.67 billion by 2028 at a compound annual growth rate (CAGR) of 7.1%, driven by factors such as climate change adaptation, demand for controlled-release fertilizers, and the expanding horticulture sector.
Increasing Pest Infestation Drives Market Expansion
The rise in pest infestations is a key driver of the fertigation and chemigation market. Pest infestation involves unwanted organisms causing harm to crops and property, necessitating effective control measures. Fertigation and chemigation provide precision agriculture solutions that efficiently apply nutrients and pesticides, contributing to water conservation and aligning with sustainability goals. The Food and Agriculture Organization (FAO) reports that pests result in up to 40% annual crop loss globally. Additionally, plant diseases cost the global economy over $220 billion each year, while invasive insects lead to losses of approximately $70 billion annually. This growing threat underscores the importance of advanced fertigation and chemigation methods.
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Key Players and Technological Advancements
Major companies in the fertigation & chemigation market include Jain Irrigation Systems Ltd., Netafim Global, Rain Bird Corporation, and Valmont Industries Inc. These companies are at the forefront of technological advancements. For example, Tel Aviv-based ICL launched eqo.x in September 2022, a rapidly biodegradable release technology for open field agriculture. This innovation helps farmers optimize crop performance while minimizing environmental impact by enhancing nutrient use efficiency and reducing nitrogen waste.
Major Trends Shaping the Market
Key trends influencing the fertigation and chemigation market include the adoption of digital farming platforms, smart agriculture technologies, and tailored nutrient programs. Variable rate technology (VRT), remote monitoring, and automation are becoming increasingly prevalent, reflecting the industry’s move towards more efficient and precise farming practices.
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 Leading the Market
In 2023, Europe was the largest region in the fertigation & chemigation market. However, North America is expected to be the fastest-growing region during the forecast period, driven by technological advancements and increasing adoption of sustainable farming practices.
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Fertigation & Chemigation Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fertigation & Chemigation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fertigation & chemigation market size, fertigation & chemigation market drivers and trends, fertigation & chemigation market major players, competitors’ revenues, market positioning, and market growth across geographies. The fertigation & chemigation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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