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Water-Soluble Fertilizers Market Size, Trends, Growth And Global Industry Report 2033
Water-Soluble Fertilizers Market Size
As per the report, the water-soluble fertilizers market size has grown strongly in recent years. It will grow from $14.48 billion in 2023 to $15.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The water-soluble fertilizers market size is expected to see strong growth in the next few years. It will grow to $19.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
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Increasing Need For Water Soluble Fertilizers Propels Market Growth
The increasing need for fertilizers that are water soluble is expected to propel the growth of the water-soluble fertilizers market in the coming future. Water-soluble fertilizers are fertilizers that are soluble readily in water and are applied directly to the crop. The increasing need for water-soluble fertilizers is expanding the water-soluble fertilizers market since nutrients can be easily managed by the use of water-soluble fertilizers, and leaching and erosion have little impact on them. For instance, in June 2022, according to the House of Lords Library, a UK-based Chamber of Lords' library and information resource, which is the upper chamber of the United Kingdom's Parliament, Potash fertilizer prices had climbed by 165%, while phosphate fertilizer prices had increased by 120% to 128%, depending on the diversity. Therefore, the increasing need for fertilizers that are water soluble is driving the market.
Product Innovation Drives Water-Soluble Fertilizers Market
Product innovation is the key trend gaining popularity in the water-soluble fertilizers market. Major companies operating in the water-soluble fertilizers market are focused on developing innovative products to strengthen their position in the market. For instance, in July 2022, SQM, a Chile-based chemical firm that provides iodine, lithium, and industrial chemicals as well as plant nutrition, launched Ultrasoline K Plus a water-soluble fertilizer. Ultrasoline K Plus is composed of iodine, 13.7% nitrogen, and 46.3% potassium, and it has been supported by over 100 field tests with growers. By using Ultrasoline K Plus, crops may avoid iodine shortages without running the danger of applying too much iodine. Ultrasoline K Plus is created using an ecologically friendly technique that produces up to 40% fewer greenhouse emissions in addition to satisfying the demands of international markets.
The water-soluble fertilizers market covered in this report is segmented -
1) By Type: Nitrogenous, Phosphatic, Potassic, Other Types
2) By Form: Dry, Liquid
3) By Crop Type: Field Crops, Horticultural Crops, Plantation, Turf And Ornamentals, Other Crop Types
4) By Application: Foliar, Fertigation
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Major companies operating in the water-soluble fertilizers market report are Nutrien Ltd., Israel Chemicals Ltd, Coromandel International Limited., The Mosaic Company, K+S AKTiengesellschaft, Agrium Inc., Iowa Fertilizer Company, Qatar Fertiliser Company, Israel Chemical Limited, Sociedad Quimica YMinera SA (SQM), Yara International ASA, BMS Micro-Nutrients NV, COMPO EXPERT INDIA PRIVATE LIMITED, Haifa Group, Indian Farmers Fertiliser Cooperative Limited, EuroChem Group AG, UralChem Holding PLC, Sinochem Fertilizer Co. Ltd., Hebei Monband Water Soluble Fertilizer Co. Ltd., Potash Corporation of Saskatchewan Inc, Shandong Kingenta Ecological Engineering Co. Ltd., National Liquid Fertilizer, Arab Potash Company, Omex Agriculture Inc., Everris International B.V., Agafert Srl, Nagarjuna Fertilizers & Chemicals Ltd., Grupa Azoty S.A., Gujarat Agro Industries Corporation Ltd., Zuari Agro Chemicals Limited
Contents of the report:
1. Executive Summary
2. Water-Soluble Fertilizers Market Report Structure
3. Water-Soluble Fertilizers Market Trends And Strategies
4. Water-Soluble Fertilizers Market - Macro Economic Scenario
5. Water-Soluble Fertilizers Market Size And Growth
…..
27. Water-Soluble Fertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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