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Water Soluble Fertilizers Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2024
Water Soluble Fertilizers Market
Market Dynamics: Water Soluble Fertilizers Market
Increase in the global population demanding for healthy food products, rise in the demand for drip irrigation due to government support, rise in awareness about the advantages of water soluble fertilizers, and growing preference for environment-friendly farming are anticipated to fuel the water soluble fertilizers market. Furthermore, increase in the crop loss due to lack of nutrients in soil, decrease in labour cost, and simple application procedures are propel the water soluble fertilizers market over the forecast period. However, lack of awareness about the usage of fertilizers and stringent regulatory guidelines are expected to impede the growth of water soluble fertilizers market.
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Market Scope: Water Soluble Fertilizers Market
Water soluble fertilizers market is segmented based on fertilizer type, crop type, and mode of application
Based on the fertilizer type, water soluble fertilizers market segmented into the following:
• Phosphatic
• Nitrogenous
• Potassic
• Micronutrients
• Others
Based on the crop type, water soluble fertilizers market segmented into the following:
• Horticulture crops
• Field crops
• Turf & ornamentals
• Others
Based on the mode of application, water soluble fertilizers market segmented into the following:
• Foliar
• Fertigation
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Market Summary: Water Soluble Fertilizers Market
Water soluble fertilizers market is growing at a significant CAGR due to increase in the crop yield and better yield of the products. In addition, government initiations for the environment-friendly fertilization of crops, rise in popularity for drip irrigation systems, and faster absorption rate are anticipated to upsurge the revenue of water soluble fertilizers market. Moreover, acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for dominating the water soluble fertilizers market. For instance, in May 2017, Israel chemical ltd. launched its water soluble fertilizers product portfolio in the UK agriculture market.
Regional Analysis: Water Soluble Fertilizers Market
Geographically, water soluble fertilizers market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America water soluble fertilizers market driven by increase in the adoption of eco-friendly farming practices, growing population demanding for healthy food products, increase in the production of fruits and vegetables in U.S. Europe water soluble fertilizers market expected to grow at significant CAGR over the forecast period due to the diversification of business into Europe region, rise in R&D activities, and high awareness about the benefits of water soluble fertilizers among farmers in the region. Asia Pacific water soluble fertilizers market projected to hold larger revenue share owing to rise in adoption of environment-friendly farming, and easier availability of the products.
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Market Participants: Water Soluble Fertilizers Market
Some of the players in water soluble fertilizers market are Agrium Inc. (Canada), Yara International ASA (Norway), COMPO GmbH & Co. KG (Germany), K+S Aktiengesellschaft (Germany), Israel Chemical Limited (Israel), Sociedad Quimica YMinera SA (SQM) (Chile), Coromandel International Limited (India), and Haifa Chemicals Limited. (Israel) to name a few.
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