Water Soluble Fertilizer Market - By Form (Dry, Liquid), By Product (Nitrogenous, Micronutrients, Phosphatic, Potassium), By Mode of Application (Foliar, Fertigation), By Crop Type (Cereals, Vegetables, Fruits, Plantation), & Global Forecast, 2023-2032
Report ID: GMI2323
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Published Date: March 2023
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Report Format: PDF
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Base Year: 2022
Companies covered: 12
Tables & Figures: 840
Countries covered: 28
Pages: 619
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Water Soluble Fertilizer Market
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Water Soluble Fertilizer Market Size
Water Soluble Fertilizer Market size was valued at USD 14.5 billion in 2022 and is estimated to exhibit around 5% CAGR from 2023 to 2032. The increasing adoption of precision farming techniques, which require frequent and precise application of fertilizers, is also expected to drive market growth.
The market may; however, face challenges such as high costs of water-soluble fertilizers, limited access to advanced irrigation systems in developing countries, and the lack of awareness about the benefits of such fertilizers in certain regions.
In terms of region, Asia Pacific is expected to dominate the market due to the growing population, rising food demand, and growing use of water-soluble fertilizers in the region. North America and Europe are also expected to showcase significant market growth due to the presence of advanced agricultural practices and the increasing adoption of precision farming.
Many companies are focusing on expanding their product portfolios by launching new water-soluble fertilizers. They are also focusing on strategic partnerships and collaborations to expand their market presence and strengthen their distribution networks. Some companies are also investing in R&D to develop innovative water-soluble fertilizers with improved efficiency and cost-effectiveness.
Water Soluble Fertilizer Market Analysis
The fertigation mode of application segment generated over USD 10 billion in the water soluble fertilizer market in 2022 and is poised to grow at a CAGR of around 4.8% during the forecast period. Fertigation is a method of applying water-soluble fertilizers to crops using an irrigation system. This method is commonly used in commercial agriculture and horticulture as well as in home gardens & landscapes. Fertigation is a common farming practice. Growers can save resources, time, and effort by completing two activities at once, i.e., fertilization & watering, by using the fertigation approach.
Cereals are one of the major crops that use water-soluble fertilizers. The use of water-soluble fertilizers in cereal crops can improve crop yields and quality. Water-soluble fertilizers can be used to provide cereal crops with the essential nutrients they need for optimal growth and development. These nutrients include nitrogen, phosphorus, and potassium as well as other micronutrients such as zinc & copper. Water-soluble fertilizers can also be used in foliar sprays to provide cereal crops with the essential nutrients they need for optimal growth and development. Foliar sprays can be especially useful when crops are under stress or during critical growth stages.
Among the water soluble fertilizer forms, dry product is projected to acquire substantial traction. Dry water soluble fertilizer market is expected to grow at a CAGR of over 5.1% from 2023 to 2032. Dry water-soluble fertilizers are available in a dry granular or powder form but dissolve quickly in water when applied to plants. They are easy to handle, transport & store and can be applied to plants through irrigation systems or by mixing with water and applying directly to the soil.
Dry water-soluble fertilizers are made of various nutrient compounds including nitrogen, phosphorus, potassium, and micronutrients. They can be used to provide plants with the specific nutrients they need to grow and thrive. However, dry water-soluble fertilizers should be used with care as their over-application or improper application can harm the environment, lead to nutrient imbalances, or result in plant injuries. It is recommended to consult with a professional or refer to the manufacturer's instructions before using dry water-soluble fertilizers.
Asia Pacific is one of the largest regions, which occupied over 45% share in the global water soluble fertilizer market in 2022. It is attributed to the large agricultural industry in countries such as China, India, and Indonesia. The region also has a high demand for horticultural crops such as fruits and vegetables, which require the use of water-soluble fertilizers for optimal growth.
Additionally, the increasing population and urbanization in the region have led to a rise in the demand for ornamental plants and turf, which also require the use of water-soluble fertilizers. In recent years, there has been a growing focus on sustainable agriculture in the region, which has led to an increase in the use of water-soluble fertilizers to reduce the environmental impacts of traditional fertilizers.
Water Soluble Fertilizer Market Share
Some of the major manufacturers of water-soluble fertilizers include
These companies are concentrating on strategic innovations to strengthen their position in the water soluble fertilizer market. Production capacity expansion, regional expansion, and acquisitions are among the major developments in the industry.
The water soluble fertilizer market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
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By Form
By Product
By Application
By Crop
The above information is provided on a regional and country basis for the following: