ID: MRFR/AGR/5010-HCR | 90 Pages | Author: Varsha More | May 2023
Water-Soluble Fertilizers Market is projected to register a CAGR of 4.23% and reach a value of USD 19.89 billion by 2030. The rise in concern about cultivation to yield high quality and productive crops is developing the Water-Soluble Fertilizers Market. During cultivation, to get better results and to meet the demand of the public better production rate is expected. The fertilizers play a major role in the growth of the crop and in providing necessary nutrients. Water-soluble fertilizers can be of natural or synthetic origin that can easily mix with a solvent, especially in water. The mixture is then applied to the crops. The water-soluble fertilizers ensure productive results in the cultivation; due to this, the demand of the Water-Soluble Fertilizers Market is highly growing.
The water-soluble fertilizers make it easy to mix and maintain the necessary nutrients available to plants. It is rapidly soluble in water and further helps in fertigation and foliar by releasing essential nutrients at the root zone and leaves. These advantages are boosting up the Water-Soluble Fertilizers Market Growth.
Due to major growth factors, the market is sheer growth worldwide, especially in regions mostly oriented in farming activities. The water-soluble fertilizers are of high efficiency are driving the market's demand. The limited amount of land availability and rise of environmental concerns are the major growth factors of the market. The rise in population is demanding for the necessity of food consumption and security, and these factors are accelerating the market. The rising popularity of these fertilizers due to their immediate nutrition provider and deficiency feature is enhancing the Water-Soluble Fertilizers Market Trends. Water-soluble fertilizers have become an essential part of crop cultivation in the agricultural industries. Its demand to continue in the future days with a higher growth rate. The adoption of advanced farming techniques for better yield of fruits and vegetables with higher nutritional value is emerging the Market Size.
The Water-Soluble Fertilizers Market Forecast is estimated to reach a good CAGR percent and a sound USD value during the forecast period.
The COVID-19 pandemic has negatively impacted the Water-Soluble Fertilizers Market and led to many challenging situations. Due to strict lockdown rules, the manufacturing units of the fertilizers industries were shut down for a longer period. This has halted the operational process and activities. The production and sales unit of the market was hampered, which decreased the market's demand. Trading restrictions imposed in the global regions have disputed the supply chain process of fertilizers. The economy of the water-soluble industries was affected, and the growth graph noticed a huge downfall. The increased decline in agricultural products has reduced the investment in farming.
But in the upcoming years, the demand of the Water-Soluble Fertilizers Market propelled due to growth factors like increased rate of a population which accelerated the consumption quality food with good nutritional value to boost the immunity. Adopting a healthier lifestyle has driven the market in this tough condition. These factors have recovered the pandemic loss and resulted in a good growth rate. The Market Value is estimated to reach a strong market value with a higher sales rate in the post-pandemic period.
Chief Factors Existing In The Market
Key Market Drivers
The growth drivers are emerging the growth value of the market due to the presence of positive factors. The rise in demand for food with high nutritional value is one of the major driving factors of the market. The growing population in the developing countries and the rise in concern for food security are chiefly driving the market. The government takes the growth initiatives to promote water-soluble fertilizers, which is another primary reason the market is experiencing a higher growth rate.
The challenging factor is slowing down the market's growth rate. The pandemic was a tough situation for the market. Other natural and specialty fertilizers give tough competition for the Water-Soluble Fertilizers Market.
The rising new opportunities are elevating the demand of the market. The concern and awareness of fertilizers as nutrition deficiency correctors and the rising popularity of the fertilizers due to their proper nutritional value are setting wide opportunities for the market.
The market restraining factors are limiting the market's demand; factors like expensive charges of production and the threat of substitutes by organic farming alternatives are major constraints of the market.
Cumulative Evaluation Of The Market
The Water-Soluble Fertilizers Market Analysis has shown a significant growth rate in recent years, and in the future, the market is estimated to continue its growth consistency. The market's existing factors show their effects during the market's progress period. The growth drivers and opportunities accelerate its growth while the constraints and challenges restrict its demand. In the earlier days of the pandemic, the market faced huge revenue loss, but in the future days, the market was recovered due to the rising demand for the products in the agricultural sector. Therefore, the market is estimated to achieve a strong CAGR value in the evaluation period.
The Water-Soluble Fertilizers Market is segmented into different segments based on type, crop type, and Application.
The type section is divided into macronutrient fertilizers and micronutrient fertilizers. The macronutrient fertilizers segment is further sub-segmented into nitrogenous, phosphatic, and potassic. Among these, nitrogenous fertilizers dominate the market, and it is expected to continue their consistency in the forecast period.
The crop type segment is classified into field crops, horticultural crops, turf & ornamentals, and others. The horticultural crops are a rapidly growing region due to their increased demand for fruits and vegetables, resulting in high crop productivity.
The application segment of the Water-Soluble Fertilizers Market is categorized into foliar and fertigation. Between these, the fertigation segment captures the largest market share of the Water-Soluble Fertilizers Market Share.
According to the geographical distribution, the Water-Soluble Fertilizers Market is showing tremendous growth in major continents such as North Europe, Europe, Asia Pacific and the rest of the world. Among the above geographical regions, Europe is considered as the dominating region due to the increased rate of awareness and concern among the cultivators on the benefits of fertilizers in crop cultivation.
Followed by Europe, the North American region is the next leading region with countries the US, Canada and Mexico.
The Asia-pacific region is estimated to be a rapidly growing region due to the growing exports of agricultural technologies and fertilizers. The rest of the world consists of South America, the Middle East, and Africa. These regions are also showing a decent growth rate.
Competitive Intensity Within The Industry
The key players of the Water-Soluble Fertilizers Market play a magnificent role in propelling the market's demand. The market players focus on the developments and improvements of the product to meet the demand of the cultivators. Their presence in major regions is driving the market's growth globally. The Market Outlook is lifted by the strategies and acquisitions of the players. Below mentioned is the list of industrial players in the market.
Recent Market Developments
The Water-Soluble Fertilizers Market overview report states the market's complete report. The dynamic factor's effect was discussed in the report. The COVID-19 analysis has shown the market's growth during the tough situation. The segmentation report has stated the segments and sub-segments with their growth rate. The regional report has given a clear idea of the continents covered by the market. The growth of the major regions was also discussed in the report. The key players' developments have been noticed, and the positive factors are driving the market's growth. The overall consistency of the market is progressing smoothly, even with negative impacts. Hence, the Water-Soluble Fertilizers Market is projected to register good USD value during the forecast period.
Fertigation is the largest application segment in the global water-soluble fertilizer market.
Ease of applications, modern irrigation systems, and relatively high rate of utilization of these fertilizers, are major tailwinds pushing the growth of the global water-soluble fertilizer market.
Relatively high costs of these fertilizers is a major growth impeder for the global water-soluble fertilizer market.
Europe holds the largest share in the global water-soluble fertilizer market, followed by North America and the Asia Pacific, respectively.
Yara International ASA (Norway), K+S Aktiengesellschaft (Germany), Agrium Inc. (Canada), Sociedad Quimica Y Minera SA (SQM) (Chile), The Mosaic Company (US), Israel Chemical Limited (Israel), EuroChem (Switzerland), Compo GmbH & Co (Germany), Coromandel International Limited (India), and Haifa Chemicals Limited (Israel), are some of the top players operating in the global water-soluble fertilizer market.
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