Water-soluble Fertilizers Market Size, Share, Key Players, Growth Rate, Value, Trends, Demands and Forecasts to 2028

The water-soluble fertilizers market size is estimated to be valued at USD 18.3 billion in 2023 and is projected to reach USD 23.9 billion by 2028, recording a CAGR of 5.5% in terms of value. Various factors, such as the rising demand for high-efficiency fertilizers, the increasing adoption of precision farming, and the growing trend of greenhouse vegetable production drive the market.

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The water-soluble fertilizers market is a growing industry that provides fertilizers that are easily dissolved in water, making them readily available for plant uptake. Water-soluble fertilizers are used in various applications, including agriculture, horticulture, and turf management. They provide plants with essential nutrients, including nitrogen, phosphorus, and potassium, which promote growth and increase yield.

The water-soluble fertilizers market includes various players such as manufacturers, distributors, and retailers. The market offers a range of products, including nitrogenous, phosphatic, potassic, and micronutrient fertilizers, which are used for different crops and applications.

Key-players operating in this market are Nutrien (Canada), Israel Chemical Company (Israel), Sociedad Quimicay Minera De Chile (SQM) (Chile), K+S aktiengesellschaft (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), and Compo GmbH (Germany).

The water-soluble fertilizers market is expected to continue growing in the coming years, driven by the increasing demand for food due to population growth, the need for higher crop yield and quality, and the increasing adoption of modern farming practices such as precision agriculture. The market is also likely to see increased investment in research and development, which could lead to more advanced water-soluble fertilizer technology and more use cases for businesses. However, there are challenges to overcome, such as the need for improved nutrient use efficiency, the potential for fertilizer leaching and environmental pollution, and the need for balanced and sustainable fertilization practices for long-term soil health and productivity.

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This release was published on openPR.