Fertigation & Chemigation Global Market Report 2023
Jun 16, 2023
Major players in the fertigation and chemigation market are Jain Irrigation Systems Ltd., Lindsay Corporation, Netafim, Rain Bird Corporation, Rivulis, T-L Irrigation Company, Epc Industries, Finolex Plasson, Galcon Ltd.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fertigation & Chemigation Global Market Report 2023" - https://www.reportlinker.com/p06479705/?utm_source=GNW , Greentech India, Samriddhi by Mahindra, Sentinel Fertigation, FlyBird Farm Innovations, Feeco International, and EZ-FLO Injection Systems.The global fertigation and chemigation market is expected to grow from $39.33 billion in 2022 to $42.64 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fertigation and chemigation market is expected to reach $56.32 billion in 2027 at a CAGR of 7.2%.The fertigation and chemigation market includes revenues earned by entities by providing irrigation systems for the application of acaricides, nematicides, and micronutrients in soilless culture.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.Fertigation and chemigation refer to the injection of chemicals into the irrigation system.Fertigation is specifically used for the application of fertilizer (plant nutrients) through an irrigation system whereas chemigation is the application of pesticides using an irrigation system.These systems are used in soil or water testing, nutrient deficiencies in plants, and weed or pest control.Europe was the largest region in the fertigation and chemigation market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in fertigation and chemigation report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main techniques of fertigation and chemigation are drip and others.Drip refers to a crop irrigation system controlled by pipes, valves, tubing, and emitters that deliver water to plants at a controlled rate.The types of inputs include fertilizers, insecticides, fungicides, herbicides, and others used for food crops, cash crops, horticulture crops, plantation crops, turf and ornamental, and others. It is used by agriculture, horticulture, greenhouse, and others.Growing vegetable production is expected to propel the growth of the fertigation and chemigation market going forward.Vegetable refers to specific plant parts that are edible, such as leaves, roots, stems, and flowers.In vegetable production, drip irrigation is the most popular method of fertigation as it lessens water contact with crop development above the ground (leaves, stems, and fruit), which minimizes the likelihood of developing many crop diseases. For instance, in 2023, according to Statistics Canada, a Canada-based government agency, the total vegetable production in Canada increased by 3.7% in 2022 with farm-gate sales reaching $1.6 billion. Furthermore, in 2021, according to Knoema, a US-based provider of integrated data management platform and AI toolkit for enterprises, globally vegetable production increased from 1,138 million tons in 2020 to 1154 million tons in 2021. Therefore, the growing demand for vegetable production is driving the growth of the fertigation and chemigation market.Technical advancements are a key trend gaining popularity in the fertigation and chemigation market.Major companies operating in the fertigation and chemigation market are launching improved disc designs to sustain their position in the market.For instance, September 2022, Tel Aviv, an Israel-based specialty minerals company launched eqo.x, a ground-breaking rapidly biodegradable release technology designed for open field agriculture. This will assist farmers in maximizing agricultural crop performance while minimizing environmental effect by lowering nitrogen waste and increasing nutrient use efficiency (NUE) up to 80% . It is the only product on the market to offer a controlled release fertilizer (CRF) coating for urea, which biodegrades more quickly. The new technique will be used to reduce nitrogen losses in ICL’s CRF products for agricultural crops, including those under the Agromaster and Agrocote brands.In May 2021, Valmont Industries Inc., a US-based company providing infrastructure and irrigation equipment and services for agriculture acquired Prospera Technologies Inc. for $300 million. Through this acquisition, Valmont will create the first commercially available subscription model of its kind, providing solutions to help growers lower costs, increase yields, use less land and save time. Prospera Technologies Inc. is an Israel-based autonomous irrigation management solution provider.The countries covered in the fertigation and chemigation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The fertigation and chemigation market research report is one of a series of new reports that provides fertigation and chemigation market statistics, including the fertigation and chemigation industry’s global market size, regional shares, competitors with a fertigation and chemigation market share, detailed fertigation and chemigation market segments, market trends, and opportunities, and any further data you may need to thrive in the fertigation and chemigation industry. This fertigation and chemigation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479705/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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