Fertilizer Injector Market Size and Growth - Asia
While there were no precompiled reports available in the public domain pertaining to the market size of fertilizer injectors in Asia, we were able to come up with an estimated market size using available statistics and data from various industry reports.
The estimated market size of fertilizer injectors in Asia was $510 million in 2017 and is expected to reach $623.37 million in 2020 at a CAGR of 6.92%. Below you will find detailed calculations, estimations, assumptions, and methodology of how these figures were derived.
METHODOLOGY AND DEFINITION
In order to determine the market size of fertilizer injectors, I directed my search towards the parent segment of fertilizer injectors which is fertigation and chemigation.
According to Mississipi State University's definition, "Fertigation refers to injecting fertilizer into an irrigation system. This is accomplished in drip (trickle) by using some type of injector to meter the concentrated fertilizer solution into the irrigation water."
Fertigation is a process wherein soluble fertilizers are injected into an irrigation system known as drip irrigation. The injectors used here are called fertilizer injectors. Chemigation used the same equipment except that the solution used is chemical such as insecticides, fungicides, and herbicides.
Generally, there are two components in fertigation — injectors or fertilizer injectors and mixers, and the fertilizer itself mixed with water or also called soluble fertilizers.
FERTIGATION AND CHEMIGATION MARKET SIZE IN ASIA PACIFIC
Asia-Pacific's fertigation and chemigation market was worth $6.61 billion in 2016 and is forecast to hit $9.23 billion by 2021, at a CAGR of 6.92%. Using this CAGR to calculate for 2017;
2016 = $6.61 Billion
2017 = $6.61 Billion * 1.0692 = $7.07 billion
Globally, based on agriculture inputs segment, fertilizer accounts for 64% of the total market size, as compared to other chemical inputs such as herbicides, insecticides, & fungicides. If we use this percentage share to specifically determine fertigation market, as compared to chemigation, and assume that this carries similar trend with the Asia Pacific region, then fertigation market size would be;
Asia's Fertigation market size
= $7.07 billion * 64%
= $4.52 billion
FERTIGATION DRIP IRRIGATION SYSTEM
Since fertilizer injectors are primarily used for drip irrigation systems, we need to identify its share from total market size. Globally, drip irrigation system was estimated to account for 75% market share, as compared to sprinkler irrigation system. This share was from the major players' revenue in this industry. Using this percentage share to further narrow down the fertigation market size;
Fertigation for drip irrigation system market size
= Asia's Fertigation market size * 75%
= $4.52 billion * 75%
= $3.39 billion
FERTIGATION SOLUBLE LIQUID FERTILIZER
From MarketsandMarkets report, the global market size for water-soluble fertilizers in 2016 was $12.24 billion at 5.69% CAGR. This would translate to $12.94 billion value for 2017.
2017 = $12.24 billion * 1.0569 = $12.94 billion
According to a separate report by Grandview Research, fertigation market share for water-soluble fertilizer is 69.6%, as compared to 30.4% market share for foliar.
Global fertigation water-soluble fertilizer
= $12.94 billion * 69.6%
= $9.00 billion
Asia-Pacific region accounts for 32% of the total water-soluble fertilizer market.
Asia-Pacific fertigation water-soluble fertilizer value
= $9.00 billion * 32%
= $2.88 billion
ESTIMATED FERTILIZER INJECTORS MARKET SIZE IN ASIA
Using the calculated and estimated figures above, the market size for fertilizer injectors can be calculated by deducting the value of the total fertigation water-soluble fertilizer from the total fertigation market size for drip irrigation system. The difference would account for fertilizer injectors.
Estimated market size for fertilizer injectors
= Fertigation for drip irrigation system market size minus fertigation water-soluble fertilizer value
= $3.39 billion - $2.88 billion
= $0.51 billion or $510 million
Using the Asia-Pacific fertigation market CAGR of 6.92% to calculate until 2020;
2017 = $510 million (from our calculation above)
2018 = $510 million * 1.0692 = $545.29 million
2019 = $545.29 million * 1.0692 = $583.03 million
2020 = $583.03 million * 1.0692 = $623.37 million
In summary, Asia's fertigation and chemigation market size in 2017 was $7.07 billion and is expected to grow at 6.92% annually. Fertigation was estimated to have about 64% market share, and drip system to account for 75% of the market size. Of the $7.07 billion APAC revenue for fertigation and chemigation, about $510 million (7.2% equivalent percent share) was estimated for fertilizer injectors market size. The major players in the fertilizer injector market include Agri-Inject, Innovative Growers Equipment Inc, HORTIMAX, Idroterm Serre, Irritec, Drip Depot, Irriline Technologies Corp., Senmatic A/S, Turf Feeding Systems Inc., and Agricontrol.