Water Soluble Fertilizers Market Size Analysis, Business Growth, Trends Forecast To 2027
Compound specialized fertilizers that can be totally dissolved in water and readily applied to or seeped out of the soil are known as water soluble fertilizers. Because the integration of water and fertilizer saves water, fertilizer, and labor, these fertilizers boost the usage rate. They can provide number of advantages over conventional fertilizers, including increased crop output and soil availability of nutrients. Farmers will be able to use fertilizers more efficiently as a result of technological developments in the mode of administration with respect to foliar & fertigation techniques, as these approaches maintain proper fertilizer flow and reduce the risk of overuse in specific areas.
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The market for water soluble fertilizers will grow as people become more aware of the importance of soil fertility control. The market is also predicted to develop due to the high effectiveness of water-soluble fertilizers, their simplicity of application, and the scarcity of arable land. In addition to this, Potassium consumption is on the rise as it promotes growth, improves insect and disease resistance, enhances water productivity, and boosts protein output, all of which will fuel industry expansion in the future years. In the forecast timeframe of 2020-2027, however, increased demand for water-soluble nutrients and expanding recognition in current and innovative countries will generate new possibilities for the water soluble fertilizers market. During the projection period, the rapid development of the organic fertilizers sector and a lack of awareness would limit the growth of the water soluble fertilizers market.
In terms of type, the water soluble fertilizers market is fragmented into phosphatic, nitrogenous, potassic, bio fertilizers, micronutrients, and bio stimulants. On the basis of crop type, the water soluble fertilizers market is categorized into horticultural crops, field crops, turf & ornamentals and others. The water soluble fertilizers market is also segregated in terms of application. The application segment is divided into fertigation and foliar.
With more than a third of global water soluble fertilizer usage, Europe is anticipated to be the largest market. Asia Pacific is the fastest expanding market for worldwide water soluble fertilizer in terms of growth rate. During the forecast period, economic advancements in African countries are expected to benefit the water soluble fertilizer market. India's market growth can be linked to expanding urbanization, which is resulting in increased construction activity, which is reducing arable land for cultivation. Furthermore, soil scarcity of important micronutrients, combined with an increase in demand for micronutrients including such Zn, Fe, and other micronutrients to support plant growth, is positively impacting the country's need for bio - fertilizers.
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Some of the major players working in water soluble fertilizer market, which include Agrium Inc. (Canada), Yara International ASA (Norway), COMPO GmbH & Co. KG (Germany), K+S Aktiengesellschaft (Germany), Israel Chemical Limited (Israel), Sociedad Quimica YMinera SA (SQM) (Chile), Coromandel International Limited (India), Haifa Chemicals Limited. (Israel)
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