Water Soluble Fertilizers Market Size, By Form (Dry [Granules, Powder], Liquid), By Product (Nitrogenous [Urea, Ammonium Nitrate, Calcium Nitrate], Micronutrients [Iron, Manganese, Zinc], Phosphatic [Mono-ammonium Phosphate, Phosphoric Acid, Mono Potassium Phosphate], Potassium, [Potassium Chloride, Potassium Sulfate, Potassium Nitrate]), By Mode Of Application (Foliar, Fertigation), By Crop (Cereals, Vegetables, Fruits, Plantation, Turf & Ornamentals, Greenhouse Crops), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI2323  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 425   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Water Soluble Fertilizers Market size was USD 6.58 billion in 2019 and will grow at a CAGR of over 7.3% from 2020 to 2026. Increasing adoption of specialty fertilizers to meet escalating food demand will drive the industry growth during the forecast timeframe.
 

Water soluble fertilizers are compound specialty fertilizers that can be completely dissolved in water and added or leached out of the soil easily. These fertilizers increase the utilization rate as the integration of water and fertilizer saves water, fertilizer, and labor. They provide multiple advantages over conventional fertilizers including higher crop yield and nutrient availability in the soil. Technological advancements in the mode of application with respect to foliar & fertigation techniques will enable farmers to use fertilizers more efficiently as these techniques maintain proper flow of fertilizers and minimize the risk of excessive usage in specific areas.
 

Water Soluble Fertilizers Market Outlook
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Water Soluble Fertilizers Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 6.58 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7.3% 2026 Value Projection: 8.58 Billion (USD)
Pages: 425 Tables, Charts & Figures: 448
Geographies covered (27): U.S., Canada, France, Germany, Russia, UK, Ukraine, Poland, Greece, Spain, Turkey, Hungary, Bulgaria, Romania, China, India, Indonesia, Pakistan, Bangladesh, Malaysia, Thailand, Australia, Brazil, Mexico, Iran, South Africa, Egypt
Segments covered: Form, Product, Mode of Application, Crop and Region
Companies covered (12): Yara International ASA, Israel Chemical Ltd. (ICL), Nutrien Ltd., Haifa Group, K+S Aktiengesellschaft, The Mosaic Company, Everris, Sinochem Hong Kong (Group) Co., Ltd., AGAFERT SRL, COMPO EXPERT Group, Coromandel International Limited, VAKI - CHIM LTD
Growth Drivers:
  • 1. Emerging water-soluble fertilizer demand
  • 2. Rising food demand worldwide
  • 3. Positive outlook for horticultural sector
Pitfalls & Challenges:
  • 1. Increasing uncertainties and significant policy focus toward environment
  • 2 .Lack of awareness on the optimum usage of fertilizers

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Expanding horticulture activities to drive product penetration

A rapid increase in the global horticulture crop production despite rising crop prices and significant labor costs will enhance water soluble fertilizers market growth. The shifting focus toward dietary food and increased demand for fruits & vegetables will support its utilization in horticulture. Water soluble fertilizers allow farmers to grow more food in limited lands and provide a considerable return on investments.
 

For instance, by using 192 kg of nitrogen per hectare, it is possible to produce around 9.3 tons of grains as compared to 2.1 tons of grains without using nitrogenous water soluble fertilizers. This generates around 800% return on investment to farmers, thereby generating higher revenues. This will encourage water soluble fertilizer usage to meet the growing food demand.
 

The growing water scarcity across the globe, especially in the Middle East & Africa, along with developments in irrigation systems and spray application equipment will provide significant opportunities to the water soluble fertilizers market players. Thus, increasing requirements to develop farming in water-stressed regions coupled with the rising fertigation demand will support its demand.
 

Easy storage and prolong shelf life to drive dry segment penetration

Dry water soluble fertilizers find wide usage in agriculture, horticulture, and gardening activities. The segment accounts for over 90% share in the water soluble fertilizers market. This is attributed to easy storage and extended shelf life that increases its demand for crops across several seasons throughout the year. Liquid form water soluble fertilizers will witness significant growth owing to growing demand in water-stressed regions. These fertilizers help in the uniform application and can be used for both starter & in-season applications.
 

Growing nutrient demand for plant growth to escalate nitrogen consumption

Nitrogenous segment leads the industry growth owing to their high application in oilseeds and grains plantation. Nitrogen is essential for plants to synthesize amino acids, which are the building blocks for protein synthesis in plants Thus, its supply to plants is highly essential for its growth, vigor, color, and yield.
 

Water soluble micronutrients will grow at a faster than other products and is attributed to shortage in the arable land. Furthermore, increasing usage of NPK fertilizers containing lower quantities of micronutrient contaminants and high-yield crop demand have depleted micronutrients from the soil in recent years. Thus, the growing demand for micronutrients will drive the water soluble fertilizers market sales.
 

Foliar feeding to drive product penetration across sub-polar regions

Water Soluble Fertilizers Market by Mode of Application

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The foliar segment accounts for around 30% share in water soluble fertilizers market and will witness significant growth. Foliar fertilization is an eco-friendly process that reduces the leaching of nitrates and other elements into the environment, minimizes water pollution, and maintains the soil productivity. The mode of application is popular in cold regions, where the soil does not warm up sufficiently and fertilizer application to the soil is less as plant roots are not very active.
 

Thus, foliar feeding, i.e., fertilizer application directly to the leaves is utilized to avoid nutrition deficiencies in plants and stimulate growth even in less favorable weather conditions.
 

Increasing cereal production to escalate revenue generation

Water Soluble Fertilizers Market by Crop

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Cereals generated around USD 2.7 billion in 2019 and will depict appreciable growth, attributed to the increasing demand for barley, wheat, buckwheat, maize, millets, rice, and paddy production across China, India, Brazil, and the U.S. The rising population and growing food demand will increase the use of water soluble fertilizers as immediate nutrients replacement that crops remove from the soil.
 

These nutrients (Nitrogen-phosphorous-potassium) aid in plant growth and are widely used to enhance agricultural productivity. Furthermore, the growing product penetration in greenhouse crop production will surge the water soluble fertilizers market segment penetration.
 

Asia Pacific to drive water soluble fertilizer industry growth

Water Soluble Fertilizers Market by Region

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Asia Pacific leads the water soluble fertilizers market share and witness around 7.5% CAGR over forecast timeframe. This is attributed to the increasing demand from population-dense economies including China, India, Pakistan, Vietnam, and Bangladesh. Furthermore, investment inflows and subsidies from governments to the fertilizer industry will propel product penetration in the region.
 

For instance, the Government of India has increased fertilizer subsidy allocation from USD 9.83 million to more than USD 11 million in 2019. Middle East & Africa will witness strong growth owing to the increased demand from water-stressed regions including Egypt, Iran, and African countries.
 

Geographic expansion to emerge as a vital growth strategy

Geographic expansion through joint ventures, mergers, and acquisitions will be the key strategies of industry players to strengthen their market share. Several manufacturers are constantly focusing on expanding their facilities to new geographies. For instance, in September 2019, Yara International ASA collaborated with Lantmännen to establish a pilot project for the development and production of mineral fertilizers.
 

These products are expected to be commercialized by 2022. The strategic aim of this initiative is to expand Yara’s product portfolio in the mineral-based fertilizer segment. The key water soluble fertilizers industry participants include Yara International ASA, Israel Chemical Ltd. (ICL), Nutrien Ltd., Haifa Group, K+S Aktiengesellschaft, and The Mosaic Company.
 

The water soluble fertilizers market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2016 to 2026, for the following segments:

By Form

  • Dry
    • Powder
    • Granules
  • Liquid

By Product

  • Nitrogenous
    • Urea
    • Ammonium Nitrate
    • Calcium Nitrate
    • Others (Ammonium Sulfate, Magnesium Nitrate, etc.)
  • Micronutrients
    • Iron
    • Manganese
    • Zinc
    • Others (Copper, Boron, etc.)
  • Phosphatic
    • Mono-ammonium Phosphate
    • Phosphoric Acid
    • Mono Potassium Phosphate
    • Others (Dipotassium Phosphate, Urea Phosphate, etc.)
  • Potassium
    • Potassium Chloride
    • Potassium Sulfate
    • Potassium Nitrate

By Mode of Application

  • Foliar
  • Fertigation

By Crop

  • Cereals
  • Vegetables
  • Fruits
  • Plantation
  • Turf & Ornamentals
  • Greenhouse Crops

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Turkey
    • Russia
    • Ukraine
    • Poland
    • Greece
    • Hungary
    • Bulgaria
    • Romania
  • Asia Pacific
    • China
    • India
    • Indonesia
    • Pakistan
    • Bangladesh
    • Malaysia
    • Thailand
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Iran
    • South Africa
    • Egypt

 

Frequently Asked Questions (FAQ) :

Dry fertilizers are extensively used in gardening, horticulture, and agriculture, driven by its extended shelf life and easy storage. Dry segment holds 90% market share.
Nitrogenous products are massively used in grain and oilseed plantations since nitrogen is important for plants to synthesize amino acids – the building blocks for protein synthesis in plants. Nitrogenous segment leads the market growth.
The foliar mode of application will be preferred since it maintains soil productivity, minimizes water pollution, and it is an eco-friendly process which helps to lower leaching of nitrates into the environment. Foliar segment holds 30% market share.
Rising demand for cereals such as wheat, buckwheat, barley, millets, maize, etc., will increase the demand for their production, leading to surging requirement of water soluble fertilizers. Cereals segment held USD 2.7 billion in 2019.
These products will gain massive traction across the Asia Pacific, owing to rising demand from heavy population areas such as Pakistan, Vietnam, Bangladesh, India, China, etc. APAC dominates the industry and will depict 7.5% CAGR through 2026.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 425
  • Tables: 414
  • Charts / Figures: 34
  • Companies covered: 12
  • Countries covered: 27

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