Press release
Global Water Soluble Fertilizers Market is Likely to Grow at a CAGR of 5.7% Over the Forecast Period
Water Soluble Fertilizers Market
The global water soluble fertilizers market is segmented into product type such as nitrogenous, micronutrients, potassic and phosphatic. Among these segments, nitrogenous segment projected to grow at remarkable pace during the forecast period. Nitrogen is crucial for every living system and is an important plant nutrient. Nitrogenous water soluble fertilizers help to maintain nitrogen cycle of plants to assure the health and growth of plants. Further, increasing need to minimize overall development period of any crop is a key factor which is fuelling the growth of this segment.
Global water soluble fertilizers market is expected to register a 5.7% CAGR over the forecast period. Moreover, the global water soluble fertilizers market was reached USD 11,590 Million in 2015 and is expected to reach at notable revenue by the end of 2021. Further, the adoption of water soluble fertilizers is envisioned to increase in future due to rising need to boost crop production in order to meet food demand across the globe. Further, farmers are adopting additional solution to reduce crop maturity time and increase profit.
This factor is anticipated to foster the growth of global water soluble fertilizers market over the forecast period.
Fertigation segment by application is anticipated to witness considerable growth during the forecast period. Further, advantages of using water soluble fertilizers through fertigation method such as better yield, better crop quality and boost production period. These advantages of fertigation method are expected to lead the growth of this segment in near future.
Increasing Need to Improve Agricultural Productivity
With increasing world population, the need to enhance global crop productivity is increasing in order to meet global needs for food. Further, availability of a number of products and easy application are fuelling the adoption of water soluble fertilizers. In addition to this, rapidly reducing arable land across the globe is also a key factor which is escalating the demand for water soluble fertilizers to increase the agricultural productivity.
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Rising Concerns for Food Security
The adoption of water soluble fertilizers is increasing owing to rising need in order to boost the crop production. Further, increasing food security concern is predicted to boost the demand for water soluble fertilizers in future.
Although, high cost of water soluble fertilizers and presence of other alternatives such as organic fertilizers are some of the factors that are likely to inhibit the growth of the water soluble fertilizers market in the near future.
The report titled “Global Water Soluble Fertilizers Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global water soluble fertilizers market in terms of market segmentation by types, by application, by grades, by crop and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global water soluble fertilizers market which includes company profiling of Agrium Inc., Israel chemical ltd., The mosaic company, Haifa chemicals ltd., Coromandel international ltd., Yara International ASA, Compo GmbH & Co. KG, Hebei Monband Water Soluble Fertilizer Co., Ltd., Sociedad Quimica Y Minera SA (SQM) and K+S AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global water soluble fertilizers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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