Water Soluble NPK Fertilizers Market Size, Growth, Demand, Opportunities & Forecast To 2027

The rising global population and growing industrialization have led to limited availability of arable land. Moreover, increasing population is driving demand for food. In order to meet the rising demand from the population, the amount of crop produced should be adequate. The positive outlook of farmers towards the use of technology and new products to maximize the yield is also an important factor responsible for increasing demand for water soluble NPK fertilizers.

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The global water soluble NPK fertilizers market is expected to exhibit a CAGR of 6.2% during the forecast period, owing to limited availability of arable lands. The forest areas have been turned into arable croplands to satisfy the demand of increasing population, which is directly associated to rapid urbanization of developing cities, large scale industrialization, and high energy demand. Furthermore, the previously arable lands have lost their fertility due to global climatic changes and exploitive farming methods. Moreover, the UN’s Food and Agriculture Organization (FAO) has estimated that emerging economies including China and India will require an excess of 120 million hectares of farmlands by 2030 to cater to food needs of their increasing population. Furthermore, in order to solve the demand for food, water-soluble NPK fertilizers would act as a key solution in helping farmers for maximizing their yield sustainably, accelerating the maturity of crops, and also maintaining the overall health of the plants, in spite of desertification of farmlands and degradation of soil quality.

Detailed Segmentation:

Global Water Soluble NPK Fertilizers Market, By Application:
Foliar
Fertigation

Global Water Soluble NPK Fertilizers Market, By Crop Type:
Field Crops
Horticultural Crops
Ornamentals
Others

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Key companies covered as a part of this study include Acron Group, Arab Potash Company, Compo Expert GmbH, Coromandel International Limited, Eurochem Group, Haifa Chemicals Ltd., Hebei Monband Water Soluble Fertilizer Co. Ltd., Indian Farmers Fertiliser Cooperative Limited, Israel Chemicals Limited, K+S Aktiegesellschaft, OMEX, PhosAgro Group, PT Petrokimia Gresik, Sichuan Guoguang Agrochemical, SQM S.A., The Mosaic Company, Uralchem Group, and Yara International ASA

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