Global Water-Soluble Fertilizer Market Size, Share, and COVID-19 Impact Analysis, By Type (Nitrogenous, Potassic, Micronutrients, and Phosphatic), Application (Foliar and Fertigation), Crop Type (Horticultural, Turf & Ornamentals, Field, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Chemicals & Materials
Global Water-Soluble Fertilizer Market Insights Forecasts to 2030
- The global Water-Soluble Fertilizer market was valued at USD 17.8 billion in 2021.
- The market is growing at a CAGR of 4.9% from 2021 to 2030
- The global Water-Soluble Fertilizer market is expected to reach USD 28.7 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global Water-Soluble Fertilizer market is expected to reach USD 28.7 billion by 2030, at a CAGR of 4.9% during the forecast period 2021 to 2030. The Water-Soluble Fertilizer market has been growing as the demand for food security is increasing owing to the rapidly increasing population. Also, with the limited availability of agricultural land along with a surge in crop loss due to nutrient deficiency, the demand for Water-Soluble fertilizers will increase.
This research report categorizes the market for Water-Soluble Fertilizer based on various segments and regions and forecasts revenue growth and analyzes trends in each of the submarkets. The report analyses the key growth drivers, opportunities, and challenges that influence the Water-Soluble Fertilizer market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included in order to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Water-Soluble Fertilizer market.
Global Water-Soluble Fertilizer Market Report Coverage
|Market Size in 2021:||USD 17.8 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||4.9%|
|2030 Value Projection:||USD 28.7 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||198|
|Tables, Charts & Figures:||133|
|Segments covered:||By Type, By Application, By Crop Type, by Region|
|Companies Covered:||Agrium Inc., K+S Aktiengesellschaft, Coromandel International Limited, Yara International ASA, Compo GmbH & Co, Haifa Chemicals Limited, Israel Chemical Limited, Sociedad Quimica Y Minera SA (SQM), The Mosaic Company, EuroChem.|
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The major purpose of water-soluble fertilizers is to regulate the number of nutrients given to plants. These fertilizers are conveniently applied by fertigation or foliar application since they can be blended with water. Multi-compound fertilizers that can dissolve in water are known as water-soluble fertilizers. They are easily absorbed by plants, therefore their use and absorption are substantially higher than with standard chemical fertilizers. Modern irrigation systems work better with these nutrients. Additionally, they aid in avoiding groundwater contamination. Water-soluble fertilizers are chosen over conventional chemical fertilizers due of these benefits. Fertilizers that dissolve in water are ideal for modern irrigation techniques. They not only save money on labor but also on water and fertilizers. Compared to chemical fertilizers, these fertilizers are less impure and have a lower conductivity. Additionally, it is simple to change the fertilizer's concentration. For young plants, it is also regarded as a safe chemical alternative. All of these advantages of water-soluble fertilizers contribute to the expansion of the global market.
The use of water-soluble fertilizers in greenhouses, financial incentives with fertigation to reduce groundwater consumption, government subsidies for the adoption of this technology, and an increase in the demand for micro irrigation systems are some of the main factors boosting the growth of the global market for these products. However, elements like their high price in comparison to other soil fertilizers, their unfavorable seasonal impact, and the need for a costly initial installation may soon impede the market's expansion. The concentration of the fertilizer can also be changed easily. It is also recognized as a risk-free chemical substitute for young plants. These and other benefits of water-soluble fertilizers all help the global industry growth. According to estimates made by the Food and Agriculture Organization of the United Nations (FAO), developing nations like China and India will require more than 120 million hectares of cropland to supply their expanding populations with food by 2030. Water-soluble fertilizers, despite the desertification of agricultural land and the deterioration of soil quality, are a crucial answer to assist farmers in sustainably maximizing yields, accelerating the maturation of crops, and maintaining overall plant health.
- In 2021, the Nitrogenous based water-soluble fertilizers segment dominated the market with the largest market share of 32% and market revenue of 5.69 billion.
Based on the Type, the Water-Soluble Fertilizer market is categorized into nitrogenous, potassic, micronutrients, and phosphatic. In 2021, the nitrogenous segment dominated the market with the largest market share of 32% and market revenue of 5.69 billion. Nitrogenous-based water-soluble fertilizers comprise ammonium nitrate, calcium nitrate, urea, and others, including magnesium nitrate, ammonium sulfate, etc. For plants to grow and develop, nitrogen is necessary for the synthesis of amino acids, which serve as the building blocks for the synthesis of proteins. In addition, nitrogen is a crucial element of chlorophyll that is necessary for several enzymatic processes. As a result, a plant's nitrogen supply controls its growth, color, vigor, and yield. In terms of volume, calcium nitrate leads the nitrogenous-based water-soluble fertilizer market.
- In 2021, the foliar segment accounted for the largest share of the market, with 69% and a market revenue of 12.2 billion.
Based on Application, the Water-Soluble Fertilizer market is bifurcated into foliar and fertigation. In 2021, the foliar segment dominated the market with the largest market share of 69% and market revenue of 12.2 billion. In cold climate zones, when the soil is not warm because the plant roots are dormant, foliar feeding is common. Foliar feeding, or applying fertilizer directly to the leaves, is the best method for preventing plant nutrient deficits and promoting development even in unfavorable weather circumstances. Foliar fertilization is also an environmentally benign procedure that lessens the leaching of nitrates and other environmental elements, lessens water pollution, and keeps the soil productive.
- In 2021, the horticulture segment accounted for the largest share of the market, with 31% and a market revenue of 5.5 billion.
Based on Crop Type, the Water-Soluble Fertilizer market is segmented into horticultural, turf & ornamentals, field, and others. In 2021, the horticulture segment dominated the market with the largest market share of 31% and market revenue of 5.5 billion. The increase in nutritional diet around the world is expected to increase the demand for high-value crops, which in turn is likely to fuel the segment growth. Also, numerous varieties of horticulture crops require appropriate conditioning and a favorable climate for proper growth, and water-soluble fertilizers can cater to requirements.
Regional Segment Analysis of the Water-Soluble Fertilizer Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Europe emerged as the largest market for the global Water-Soluble Fertilizer market, with a market share of around 38.62% and 6.8 billion of the market revenue in 2021.
- Europe emerged as the largest market for the global Water-Soluble Fertilizer market, with a market share of around 38.62% and 6.8 billion of the market revenue in 2021. The market for Water-Soluble Fertilizers in the European region has been expanding owing to a surge in the implementation of specialized fertilizers in countries including France and Russia. Also, the changing climate in Europe, along with the increasing number of fertilizer manufacturers in Europe, is driving the market.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. A considerable increase will be seen in the Asia-Pacific region due to rising agricultural yields in nations like China, India, Thailand, and Australia. Demand for food and agricultural products will be driven by an expanding middle class, a growing population, and rising earnings. This will support market growth. Throughout the projection period, the market for water soluble fertilizers will expand due to government subsidies, agricultural loans that are available, and the execution of the "Make in India" program for the advancement of the agriculture industry.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Water-Soluble Fertilizer market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Agrium Inc.
- K+S Aktiengesellschaft
- Coromandel International Limited
- Yara International ASA
- Compo GmbH & Co
- Haifa Chemicals Limited
- Israel Chemical Limited
- Sociedad Quimica Y Minera SA (SQM)
- The Mosaic Company
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In January 2020, India-based Gujarat Agro Industries Corporation brought over 300 tons of water-soluble fertilizers from China. The brand name "AGRO" will be used to market the imported goods to farmers.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global Water-Soluble Fertilizer market based on the below-mentioned segments:
Water-Soluble Fertilizer Market, By Type
Water-Soluble Fertilizer Market, By Application
Water-Soluble Fertilizer Market, By Crop Type
- Turf & Ornamentals
Water-Soluble Fertilizer Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the global Water-soluble fertilizer market?As per Spherical Insights, the size of the Water-soluble fertilizer market was valued at USD 17.8 billion in 2021 to USD 28.7 billion by 2030.
What is the market growth rate of the global Water-soluble fertilizer market?The global Water-soluble fertilizer market is growing at a CAGR of 4.9% during the forecast period 2021-2030.
Which region dominates the global Water-soluble fertilizer market?The Asia Pacific emerged as the largest market for Water-soluble fertilizer.
What is the significant driving factor for the Water-soluble fertilizer market?Rising food demand worldwide will influence the market's growth.
Which factor is limiting the growth of the Water-soluble fertilizer market?Strict government policies could hamper the market growth.
What is an opportunity for the Water-soluble fertilizer market?Increasing demand for fertilizers in cold conditions will provide considerable opportunities to the market.
Who are the key players in the global Water-soluble fertilizer market?Key players of the Water-soluble fertilizer market are Agrium Inc., K+S Aktiengesellschaft, Coromandel International Limited, Yara International ASA, Compo GmbH & Co, Haifa Chemicals Limited, Israel Chemical Limited, Sociedad Quimica Y Minera SA (SQM), The Mosaic Company, EuroChem.
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