Water Soluble NPK Fertilizers Market Size, Competition Analysis, Growth Trends, Forecasts And Share 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Water Soluble NPK Fertilizers Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The water soluble npk fertilizers market size has grown strongly in recent years. It will grow from $12.81 billion in 2023 to $13.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to agricultural intensification, global population growth, shift towards commercial farming, demand for high-value crops, environmental regulations, increase in horticulture and floriculture, government subsidies and incentives, growing awareness of crop nutrition, climate variability and crop resilience..

The water soluble npk fertilizers market size is expected to see strong growth in the next few years. It will grow to $17.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising global food demand, climate-smart agriculture practices, increasing trend of soilless cultivation, biostimulants and micronutrient incorporation, economic growth and farming practices, focus on crop-specific nutrient management.. Major trends in the forecast period include hydroponic and soilless farming, customized nutrient formulations, digital agriculture and farm management, integration of micronutrients, technological advancements in fertilizer manufacturing, precision agriculture technologies, specialty crop cultivation..

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Key Market Players:

Major companies operating in the water soluble npk fertilizers market report are Haifa Chemicals Ltd., Yara International ASA, Arab Potash Company, OMEX Agricultural Holdings Limited, Acron Group, Coromandel International Limited, EuroChem Group AG, Hebei Monband Water Soluble Fertilizer Co. Ltd., Indian Farmers Fertiliser Cooperative Limited, ICL Group Ltd., K+S Aktiengesellschaft AG, PhosAgro PJSC, Uralchem Integrated Chemicals Company, Grupa Azoty S.A., Chambal Fertilisers and Chemicals Ltd., Deepak Fertilisers and Petrochemicals Corporation Limited, Nutrien Ltd., Iowa Fertilizer Company, Qatar Fertiliser Company, Israel Chemical Limited, Sociedad Quimica Y Minera SA, BMS Micro-Nutrients NV, Compo Expert, Nutrien Limited, The Mosaic Company, Gujarat Aksha Fertilizer Company, Tanvi Bio Chemical Pvt Ltd., Volkschem Crop Science Pvt Ltd., Antares Chem Private Limited, Ram Shree Chemicals

Market Drivers:

Rising demand for horticulture crops is expected to propel the growth of the water-soluble NPK fertilizer market going forward. Horticulture crops refer to plant crops that typically include fruits, vegetables, and ornamental plants. Rising cultivation of horticulture crops will result in increased use of water-soluble NPK fertilizers due to their water solubility and nutritional benefits enabling better plant growth and productivity. For instance, according to the estimates published in July 2022 by the Indian Department of Agriculture and Farmers Welfare, an agency responsible for agriculture and farmers' welfare in the country, in India, the total horticulture output was anticipated to reach 341.63 million tons in 2021-22, up roughly 7.03 million tons (or 2.1% increase) from 2020-21. Therefore, the rising demand for horticulture crops is expected to drive the growth of the water-soluble NPK fertilizers market.

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The water soluble npk fertilizers market covered in this report is segmented -

1) By Crop Type: Field Crops, Horticultural Crops, Ornamentals, Other Crop Types
2) By Application: Foliar, Fertigation

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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