-- Water soluble fertilizer refers to the more value and less volume products. Water soluble fertilizer is homogeneous in nature and contains all the important nutrients required by the plants for healthy growth. The scarcity of water for agriculture purpose has forced people to adopt spray technique. In addition, the use of water soluble fertilizer is advised over other fertilizers for modern irrigation techniques.
Market size and Forecast
Global water soluble fertilizer market is anticipated to flourish at a CAGR of 5.9% during the forecast period i.e. 2017-2024. Further, the market of water soluble fertilizer was valued at USD 12.2 Billion in 2016 and is projected to garner USD 22.1 Billion by the end of 2024. Factor such as, rising demand for drip irrigation are making headway for the growth of the global water soluble fertilizer market during the forecast period.
Regionally, North America is expected to dominate the overall market of water soluble fertilizer over the forecast period. Factors such as, increasing needs of food in families with increasing population are anticipated to fuel the growth of the North America water soluble fertilizer market over the forecast period.
Europe water soluble fertilizer market is poised to record the fastest growth over the forecast period. Factor such as, rising product demand as an innovative agricultural technique are anticipated to drive the growth of the global water soluble fertilizer market over the forecast period in Europe. Asia Pacific water soluble fertilizer market is expected to witness sustainable growth over the forecast period. High adoption of products and micro irrigation systems across the countries like China, Japan and India are anticipated to drive the growth of the global water soluble fertilizer market over the forecast period. Request for FREE Sample Copy
Based on type, water soluble fertilizer market is segmented into nitrogenous, micronutrients, potassium and phosphatic, out of which, nitrogenous and micronutrients segments are expected to dominate the overall market of water soluble fertilizer over the forecast period.
Market Segmentation
Our in-depth analysis has segmented global water soluble fertilizer market into the following segments:
By Type
• Nitrogenous
• Micronutrients
• Potassium
• Phosphatic
By Application
• Fertigation
• Foliar
• Drip
By Grades
• NPK 19:19:19
• NPK 00:00:50
• NPK 13:00:45
• NPK 28:28:28
• NPK 18:18:18
• Water Soluble Calcium Nitrate
• Urea Phosphate
By Crop
• Ornamental Crop
• Field Crops
• Horticulture Crops
• Others
By Region
Global water soluble fertilizer market is further classified on the basis of region as follows:
• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, Turkey, BENELUX & Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia, New Zealand, Malaysia & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
• Middle East and Africa (GCC, Israel, North Africa and South Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
Factors such as, increasing water soluble fertilizer availability across the globe is anticipated to intensify the growth of the global water soluble fertilizer market over the forecast period. Further, increasing government initiatives towards increasing agricultural production is anticipated to positively drive the growth of the water soluble fertilizer market.
Apart from this, new products offering and advent of micro irrigation is anticipated to be the dynamic factor behind the growth of the water soluble fertilizer market during the forecast period. Moreover, ease of application along with high crop productivity is expected to drive the global water soluble fertilizers market over the forecast period. Factor such as, less availability of arable land is expected to positively drive the growth of the global water soluble fertilizer market over the forecast period. Buy This Report
However, high cost and less adoption of spray technology are some of the key factors which are expected to limit the growth of global water soluble fertilizer market in upcoming years.
Key Players
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)
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