The Global Fertigation & Chemigation Market is projected to grow at a CAGR of 6.2% in the forecast period 2020-2025.The market across the globe is gaining momentum due to the rising popularity of fertigation and chemigation products due to the ever-rising global population and the constant quest for high crop productivity accompanied by water scarcity spread across continents. The technique is less labor-intensive and utilizes drip and sprinkler irrigation for improvement of crop quality. The market is driven by the benefits offered by the adoption of fertigation and chemigation techniques like high efficiency of nutrient utilization, minimal nutrient leaching losses, better growth, yield, and quality of crops.
Key Market Trends
Increase in Awareness of Drip Irrigation System is Driving the Market
The drip irrigation segment is projected to witness the highest CAGR during the forecast period. Mostly, subsurface drip irrigation systems are used in the countries to augment fodder maize production. This allows the farmers to focus on the cattle, while still ensuring that there is sufficient food for the animals with the right nutritional quality. This results in enormous financial savings and has lead to higher revenues, globally, in the micro-irrigation systems market. These factors are driving the global market for irrigation machinery. Some of the factor which may restrict the drip irrigation systems market is its high cost, which farmers have to incur, especially when they are far from the water source.
Europe Dominates the Global Fertigation & Chemigation Market
Europe leads the fertigation and chemigation market in terms of revenue as of 2019. The increasing population and their demand for a better quality of crops across the region are driving the market. Fertigation and chemigation facilitate minimal nutrient losses in terms of leaching, high efficiency of nutrient utilization, along with better growth, quality, and yield of crops. Awareness about the benefits of using these techniques is widespread in the European countries including the UK, France, Spain, and Germany as a lot of research work is actively conducted in these countries. The Toro Company, Rivulis Irrigation, Valmont Industries Inc., and Lindsay Corporation are active companies in the region aa they are expanding and launching products to enhance their market share in the region.
The global fertigation and chemigation market is consolidated with a few companies occupying a major chunk of the market share as of 2019. The market is characterized by mergers and acquisitions, partnerships, product launches, and research & developments, among other activities. For instance, In 2017, Toro announced a partnership with Virginia Polytechnic Institute and State University (Virginia Tech) to support research efforts in GPS sprayer technology to benefit turf maintenance practices. Additionally, Toro’s award-winning drip irrigation recycling service is a result of an ongoing commitment to helping farmers maximize crop production with efficient and sustainable irrigation practices, including the recycling of spent drip irrigation tapes and driplines. The service, in partnership with Revolution Plastics, uses the recycled materials to make plastic can liners, and other agriculture and construction sheeting, rather than sending the used materials to a land fill.
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