Press release
Water Soluble Fertilizers Market is expected to grow at a CAGR of 6.7% to surpass US$ 13.59 Bn by 2032
The global water soluble fertilizer market is anticipated to be worth US$ 7,110.1 Mn in 2022 and is expected to grow at a CAGR of 6.7% to surpass US$ 13,599.4 Mn by 2032. With an increased need for food security for the world's rising population, limited agricultural land available, and an increase in crop loss due to nutrient shortage, the demand for water soluble fertilizers is predicted to grow during the forecast period.
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One of the primary drivers of the water-soluble fertilizers market is the increasing demand for high-quality crops. Farmers are looking for ways to improve crop yields and quality, and water-soluble fertilizers offer a precise and efficient way to deliver nutrients to plants. These fertilizers can be customized to meet the specific needs of each crop, ensuring that they receive the right balance of nutrients at each growth stage.
Companies
Yara International ASA
Israel Chemical Ltd (ICL)
Nutrien Ltd
Haifa Group
K+S Aktiengesellschaft
The Mosaic Company
VAKI - CHIM Ltd.
Coromandel International Limited.
EuroChem
Compo GmbH & Co. KG
Potash Corp
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Another driver of the water-soluble fertilizers market is the growing trend towards sustainable farming practices. Water-soluble fertilizers are highly efficient and can reduce the amount of fertilizer runoff that occurs in traditional farming practices. This reduces the environmental impact of farming while also improving crop yields and quality.
Despite the growth in the water-soluble fertilizers market, there are still challenges that need to be addressed. One of the primary challenges is the high cost of these fertilizers compared to traditional fertilizers. Additionally, the use of water-soluble fertilizers requires specialized equipment and knowledge, which can be a barrier to entry for some farmers.
Companies to Concentrate on the Launch of Innovative Products and Mergers & Acquisitions
Strengthening their product portfolios of specialty fertilizers is a priority for dominant market companies in the sector including Nutrien Ltd., Israel Chemicals Ltd., Haifa Chemicals, and others. One of the key players in the sector is developing as Nutrien Ltd. It was created in 2017 as a result of the union of PotashCorp and Agrium, two enormous worldwide fertiliser companies. To enhance its market domination and share, the corporation is concentrating on product launches, acquisitions, and partnership tactics.
In January 2020, Agrosema Comercial Agricola Ltda, a Brazilian agricultural retailer, was to be acquired by Nutrien Ltd. The goal of this acquisition is to increase market penetration in South America's traditional or niche fertiliser sector.
In January 2018, Brazilian company Agrichem, a pioneer in the production of specialized plant nutrition products, was acquired by Nutrien Ltd.
With the help of its subsidiary, Van Iperen International boosted its market share in the United States in December 2019. To provide an extensive selection of specialist fertilizers, the firm solely partners with Milliken.
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Key Segments Covered in the Water Soluble Fertilizers Industry Report
By Form
Dry
Powder
Granules
Liquid
By Product
Nitrogenous
Urea
Ammonium Nitrate
Calcium Nitrate
Others (Ammonium sulfate, Magnesium nitrate, etc.)
Micronutrients
Iron
Manganese
Zinc
Others (Copper, boron, etc.)
Phosphatic
Mono-ammonium phosphate
Phosphoric Acid
Mono Potassium Phosphate
Others (Dipotassium Phosphate, Urea Phosphate, etc.)
Potassium
Potassium chloride
Potassium sulfate
Potassium nitrate
By Mode of Application
Foliar
Fertigation
By Crop
Cereals
Vegetables
Fruits
Plantation
Turf & ornamentals
Greenhouse crops
By Region
North America Market
Europe Market
Asia-Pacific Market
Middle East & Africa Market
South America Market
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