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Nitrogenous Water Soluble Fertilizer Market Growth to be Driven by Emerging Trends | $89.9 Billion by 2029
Nitrogenous Water Soluble Fertilizer
What is the Projected Market Size of the Nitrogenous Water Soluble Fertilizer Industry?
The market for nitrogenous water soluble fertilizers has seen substantial growth lately. Its size is projected to increase from $65.1 billion in 2024 to $68.69 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.5%. Factors such as farmers' choices and knowledge, nutritional needs of crops, research and development initiatives, market rivalry, and crop yield and quality have contributed to this historic growth period.
What Will Be the Size of the Nitrogenous Water Soluble Fertilizer Market by 2029?
Over the coming years, the market for nitrogenous water soluble fertilizer is projected to experience substantial growth, predicted to reach a value of $89.9 billion in 2029, with a compound annual growth rate (CAGR) of 7.0%. This projected growth during the forecast period is primarily due to factors such as rising population and increased food demand, environmental sustainability considerations, the implementation of precision agriculture, the effects of climate change, and heightened awareness and education. Notable market trends forecasted for this period include enhanced market accessibility, personalized fertilization plans, a surge in urban agriculture and greenhouses, the expansion of hydroponics and soilless farming methods, and an emphasized focus on crop nutrition.
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What Are the Key Drivers Accelerating Growth in the Nitrogenous Water Soluble Fertilizer Market?
The expanding prevalence of large-scale farming is anticipated to spur the expansion of the nitrogenous water-soluble fertilizer market. Large-scale farming involves mass production of crops and livestock for sale and profit generation, with the use of nitrogenous water-soluble fertilizers as a part of their nutrient management practices, ultimately contributing to the market growth. For instance, May 2022 report by the official UK government statistical website, GOV.UK, highlighted that in 2021, there was an increase in total crop output income by $11,782 million, and total livestock output income soared by $17,626 million. As such, the continuing trend towards commercial agriculture is fueling the surge of the nitrogenous water-soluble fertilizer market.
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How Is the Nitrogenous Water Soluble Fertilizer Market Segmented by Type, Application, and Region?
The nitrogenous water soluble fertilizer market covered in this report is segmented -
1) By Type: Macroelement WSF, Microelement WSF, Other Types
2) By Crop Type: Field Crops, Horticultural Crops, Turf And Ornamentals, Other Crop Types
3) By Form: Dry, Liquid
4) By Application: Foliar, Fertigation
Subsegments:
1) By Macroelement WSF: Urea, Ammonium Nitrate, Calcium Nitrate, Potassium Nitrate, Ammonium Sulfate
2) By Microelement WSF: Iron (Fe), Zinc (Zn), Manganese (Mn), Copper (Cu), Boron (B), Molybdenum (Mo)
3) By Other Types: Controlled Release Fertilizers, Specialty Fertilizers, Blended Fertilizers
What Are the Key Trends Driving Growth in the Nitrogenous Water Soluble Fertilizer Market?
Key advancements in technology are a prevailing trend in the nitrogenous water-soluble fertilizer industry. Many major corporations in the market are developing new technologies in an effort to maintain their market standing. An example of this is Yara International, a Norwegian chemical company renowned for its fertilizers, which introduced the YaraIrix system for nitrogen water-soluble fertilizer in September 2022. The YaraIrix system incorporates a free application (compatible with Android and iOS) that enables users to calculate the nitrogen needs of a variety of crops in the early stages of growth. This application is supported by two hardware options - a clip for smartphones and a Bluetooth N-Tester for later growth stages. Upon making a measurement, the software promptly suggests the amount of fertilizer required for the crops. The N-Tester Clip can be utilized to enhance the system by transforming the smartphone camera into a nitrogen sensor when clipped on.
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Who Are the Leading Companies Driving Growth in the Nitrogenous Water Soluble Fertilizer Market?
Major companies operating in the nitrogenous water soluble fertilizer market include Israel Chemicals Ltd., Yara International ASA, K+S AG, Coromandel International Limited, Sociedad Química y Minera de Chile, The Mosaic Company, Nutrien Ltd., COMPO GmbH & Co. KG, EuroChem Group AG, BASF SE, Adama Agricultural Solutions Ltd., Uralchem Group, Nufarm Limited, Qatar Fertilizer Company, Haifa Group, Koch Fertilizer LLC, CF Industries Holdings Inc., Kugler Company, Turf Care Supply Corp., Bunge Limited, Tessenderlo Group, Sinofert Holdings Limited, Deepak Fertilizers and Petrochemicals Corporation Limited, Zuari Agro Chemicals Ltd., Rashtriya Chemicals & Fertilizers Ltd., Apache Corporation, Sinochem Corporation, Mears Fertilizer Inc., Gujarat State Fertilizers & Chemicals Ltd., Saudi Basic Industries Corporation, Brandt Consolidated Inc., Plant Food Company Inc., Greenfeed Agro Sdn Bhd, Wilbur-Ellis Company LLC, Shikefeng Chemical Industry Co. Ltd., Sapec Agro Business SA
Which Is the Leading Region in the Global Nitrogenous Water Soluble Fertilizer Market?
Europe was the largest region in the nitrogenous water soluble fertilizer market in 2024. The regions covered in the nitrogenous water soluble fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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