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Water Soluble Fertilizers Market Size, By Form (Dry [Granules, Powder], Liquid), By Product (Nitrogenous [Urea, Ammonium Nitrate, Calcium Nitrate, Others], Micronutrients [Iron, Manganese, Zinc, Others], Phosphatic [Mono-ammonium phosphate, Phosphoric Acid, Mono Potassium Phosphate, Others], 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, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI2323
  • Published Date: Jul 2022
  • Report Format: PDF

Industry Overview

Water Soluble Fertilizers Market size surpassed USD 7,115.1 million in 2021 and is estimated to exhibit a 6.8% CAGR from 2022 to 2030. Water-soluble fertilizers are compound 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 & labor.

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The escalating population and the growing demand for food globally will primarily drive the water soluble fertilizers market demand in the near future. This is because these fertilizers provide several advantages over conventional fertilizers that include a high utilization rate, a higher crop yield in limited areas, and also improves the nutrient availability in the soil. Technology advancements in the modes of applications, such as foliar and fertigation techniques, have enabled farmers to use water-soluble fertilizers more efficiently. This has also minimized the risk of excess usage of water-soluble fertilizers in a specific area.

Moreover, due to the conflict between Russia and Ukraine, there is a significant shortage of fertilizer supply since Belarus and Russia export nearly 40% of the total potash fertilizer. Russian exports were hit by sanctions. Interruptions of those shipments due to sanctions and war have led to a steep rise in fertilizer prices.

A positive outlook for the horticulture sector is also driving market demand during the projected period. However, limited awareness about the usage of water-soluble fertilizer concentration and the presence of stringent government regulation on the usage of chemical fertilizers will impose a challenge on product manufacturers in the near term.

Easy handling, blending & uniformity of the product will support the overall industry landscape

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Water soluble fertilizers market from liquid water-soluble segment is set to surpass USD 1.3 billion by 2030. Liquid water-soluble fertilizers have gained significant popularity in recent years owing to their mode of application, i.e., these fertilizers can either be foliar applied or ground applied through fertigation. Additionally, easy handling, blending, and uniformity during application make it more suitable for both starter and in-season applications. Liquid water-soluble fertilizers also use less water, making them favorable for regions that face frequent water shortages or scarcity. However, high production and distribution costs associated with the product may hinder the market share in the coming years.

The rising demand for agricultural crops will spur nitrogenous-based product demand

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The nitrogenous-based water-soluble fertilizer industry segment is expected to generate a demand of over 7 million tons in volume by 2030. Nitrogenous-based water-soluble fertilizers include urea, ammonium nitrate, calcium nitrate, and others such as ammonium sulfate, magnesium nitrate, etc. Nitrogen aids in the synthesis of amino acids, which are the building blocks for protein synthesis, in turn, essential for the growth and development of plants.

Additionally, nitrogen is also a vital component of chlorophyll that is required for several enzymatic reactions. Thus, the supply of nitrogen to a plant regulates its growth, color, vigor, and yield. Calcium nitrate dominates the nitrogenous-based water-soluble fertilizer segment in terms of volume.

Increasing demand for fertilizers in cold conditions will drive the revenue generation

Water soluble fertilizers market from foliar feeding will account for more than 30% revenue share by 2030. Foliar feeding is popular in cold climate zones where the soil is not warm as plant roots are inactive. Thus, fertilizer application through foliar feeding, i.e., directly to the leaves, is the best solution to avoid nutrition deficiencies in plants and stimulate growth even in less favorable weather conditions. In addition to this, foliar fertilization is an eco-friendly process, which reduces the leaching of nitrates and other elements from the environment, reducing water pollution and maintaining the productivity of the soil.

The cereals segment to hold a significant market share

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Water soluble fertilizers market from cereals segment will witness around 6% CAGR through 2030. Growth is attributed to an increasing product demand from Asia Pacific, Africa, and Europe for the production of barley, wheat, buckwheat, maize, millets, rice, and paddy. Thus, the use of water-soluble fertilizers in agricultural fields to supplement the required nutrients (Nitrogen-phosphorous-potassium) found naturally in the soil will surge the demand for cereal cultivation globally. Water-soluble fertilizers find wide applications in the cultivation of cereals such as rice, wheat, maize, etc.

Increasing food demand across Asia Pacific will drive the product adoption

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Asia Pacific will hold over 45% revenue share in water soluble fertilizers market by 2030. Asia Pacific holds the highest share of the overall market and is likely to dominate the global market during the study period owing to the increasing demand for fertilizers across the region, especially in China, India, Pakistan, Vietnam & Bangladesh.

 Furthermore, increasing investment inflows and government subsidies in the fertilizer sector will enhance product demand in the region. For instance, the Government of India increased subsidy allocation for fertilizers from USD 9.83 million to more than USD 11 million in 2019.

The water-soluble fertilizer industry to be moderately fragmented

Global water-soluble fertilizer market is moderately fragmented with top industry players accounting for a considerable share. Several industry participants are focused on expanding their regional reach with the establishment of new sales and marketing facilities across the globe. In addition to this, mergers, and acquisitions along with product differentiation are key strategies adopted by industry participants to enhance their profitability and support industry growth in the near future. These players have a well-established manufacturing base and are planning to expand their existing production capacities to meet the demand.

For instance, in 2019, K+S announced to expand its production capacity of magnesium sulfate anhydrous in Europe by investing around USD 38 million. This is expected to increase the competitiveness and market position of the company across the European fertilizer industry.

Some of the water-soluble fertilizer industry manufacturers of this market are Yara International ASA, Israel Chemical Ltd (ICL), Nutrien Ltd, Haifa Group, K+S Aktiengesellschaft, The Mosaic Company, VAKI - CHIM Ltd., and Coromandel International Limited.

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 2018 to 2030 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:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • 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
    • South Africa
    • Egypt
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The global water soluble fertilizers industry size had crossed USD 7,115.1 million in 2021 and is poised to strike a 6.8% CAGR through 2030 owing to the expanding population and the rising demand for food globally.
The water soluble fertilizers market share from the liquid form segment is set to exceed USD 1.3 billion by 2030 driven by their higher popularity as they can be foliar applied and ground applied through fertigation.
Demand for nitrogenous-based water-soluble fertilizers is projected to reach over 7 million tons by 2030 driven by rising prominence in the growth and development of plants.
Asia Pacific is likely to account for over 45% of the water soluble fertilizer industry revenue share by 2030 due to the higher demand for fertilizers in China, India, Pakistan, Vietnam & Bangladesh.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 12
  • Tables & Figures: 637
  • Countries covered: 27
  • Pages: 450
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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