Water Soluble Fertilizer Market size is forecast to reach USD 19.1 billion by 2032, according to a new research report by Global Market Insights, Inc.
The market is expected to grow in the coming years due to the increasing demand for high-efficiency fertilizers in agriculture, growing demand for food, and increasing awareness about the advantages of such fertilizers over traditional chemical fertilizers. The increasing adoption of precision farming techniques, which require frequent and precise applications of fertilizers, is also expected to drive market growth. The increasing use of water-soluble fertilizers in greenhouse and horticulture crops is also expected to boost market growth.
Nitrogenous water soluble fertilizer market is anticipated to acquire a CAGR of 3.6% during the projection timeline from 2022 to 2032. Nitrogen is an essential nutrient for plants and nitrogenous water-soluble fertilizers are commonly used to provide plants with the nitrogen they need to grow & thrive. Nitrogen is responsible for the growth and development of leaves, stems & roots and is also essential for photosynthesis, a process by which plants convert light energy into chemical energy.
Browse key industry insights spread across 619 pages with 811 market data tables & 29 figures & charts from the report, “Water Soluble Fertilizer Market Size, By Form (Dry [Powder, Granules], 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, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Fruits by crop segment held a market share of over 9.5% in the water soluble fertilizer market in 2022, and it is anticipated to grow at over CAGR of 3.6% from 2022 to 2032. Water-soluble fertilizers are also widely used in the cultivation of fruits as they provide plants with the essential nutrients they need for optimal growth and development. With the use of advanced technologies such as drones and sensors, farmers can precisely apply water-soluble fertilizers to their fruit crops, which improves yields and reduce costs.
North America water soluble fertilizer market is estimated to acquire around 13.5% share in 2032. North America is a significant market for water-soluble fertilizers driven by the high demand for these fertilizers in the agriculture and horticulture industries. The region is home to some of the world's leading fertilizer manufacturers, which are engaged in the production and distribution of water-soluble fertilizers.
Liquid forms are easy to mix with water and apply to plants
Water soluble fertilizer market from liquid form is expected to account for considerable market share by 2032 and is estimated to grow at a CAGR of 4.5% during the forecast period. Liquid water-soluble fertilizers are in a liquid form and can be easily mixed with water and applied to plants either through irrigation systems or by applying directly to the soil. They are designed to provide plants with a quick & efficient supply of nutrients as they are easily absorbed by the plant roots. They are easy to mix with water and apply to plants. They are quickly absorbed by plants, providing them with a fast supply of nutrients. They can be used to target specific areas of a plant or garden.
Water soluble fertilizer market share from Foliar segment
Foliar water-soluble fertilizers were estimated at over USD 4.5 billion in 2022, and it is anticipated to grow at over CAGR of 5.5 % from 2022 to 2032. Foliar water-soluble fertilizers are commonly used to provide plants with specific nutrients that they lack. For example, a foliar fertilizer containing nitrogen can be used to promote vegetative growth while a foliar fertilizer containing potassium can be used to improve the quality of fruits & vegetables. Foliar water-soluble fertilizers are also used to correct nutrient imbalances and provide plants with specific nutrient requirements.
Emerging demand for water soluble fertilizer
Water-soluble fertilizers are gaining traction among agricultural producers as they enhance nutrient levels in crops. Growing water scarcity across the globe, especially in the Middle East & Africa, and developments in irrigation systems & spray application equipment will provide significant opportunities for the water soluble Fertilizer market growth in the coming years. The growing requirement to develop farming in areas with water scarcity, such as Sudan, Tunisia, Cuba, and Venezuela, coupled with the rising fertigation demand is supporting the usage of WSFs across several regions.
Some of the prominent manufacturers of water soluble fertilizer industry include Yara International ASA., Israel Chemicals Ltd. (ICL), Nutrien Ltd., and Haifa Group.
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