In 2021, the size of the fertigation and chemigation market was $12,005 million, and will reach about $21,435 million by the year 2030, advancing with a growth rate of about 7% in the coming years. This can be credited to the cumulative use of fertilizers for additional crop production and increasing consciousness concerning water use and scarcity. Furthermore, the increasing popularity of drip irrigation and promising initiatives by the government propel the growth of the industry.
Drip irrigation systems had the largest demand in 2021 with a revenue share of over 70%, and they will be this way in the years to come as well. This is the most-effectual technique of fertigation since it necessitates less manpower than sprayers and other conformist methods of irrigation, which decreases the total cost of crop production. These are also generally used in agriculture since they make it simple to distribute fertilizers alike drips, near the roots, which results in a surge in root nutrient uptake.
Fertilizers were the most demanded in the year 2021, and they will continue in the near future, advancing with a growth rate of approximately 7%. This has a lot to do with the increased use of fertilizers to surge the crop yield, the existence of limited arable land, along with the snowballing demand for food because of the growing population, particularly in the Asian region.
Horticulture had the largest share of revenue in fertigation and chemigation market, and it is will maintain its position in the years to come. Owing to the lesser costs of labor and fertilizer, this technique is used widely for producing fruits and vegetables. Moreover, horticulturists can deploy these kinds of systems as the return on investment in horticulture is higher than the other food grains.
These contemporary fertilization and nutrient supply methods need less labor and water than conformist methods. Therefore, these methods provide a wonderful potential to make the most of the crop harvest and lessen ecological pollution, by rising fertilizer use efficiency, plummeting fertilizer application, and enhancing the ROI.
Also, the earth is at a potential risk of facing water scarcity, as numerous countries are at this time facing the depletion of groundwater. Consequently, water obtainability for agriculture will decrease in the coming years, therefore it is important to use it competently, because of which the industry will flourish in the coming years.
The increasing population and scarcity of water has much to do with the increasing demand for fertigation and chemigation systems.
