Water Soluble Fertilizer Market Drivers, Industry Survey and Business Development Analysis till 2024

Posted on 2020-11-24 by researchinsights in Agriculture // 0 Comments

Felton, Calif., USA, Nov. 24, 2020 — /EPR Network/ —

The global Water Soluble Fertilizer Market size was USD 12.5 billion in 2015 and is anticipated to reach USD 22.0 billion by 2024. Increasing demand from wide range of fustigation application coupled with increasing awareness and adoption of micro irrigation systems is anticipated to boost the global demand for water soluble fertilizers.

Growing demand and need for superior yield owing to increasing world population, reduction in arable land, and great demand of biofuels is expected to impact the global demand for water soluble fertilizers. Harmful ecological impacts of over/high fertilization, including pollution of ground water, disturbances in environment life sciences, and increase in area under ocean dead zones are expected to restrict the market growth.

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Increasing awareness among farmers across emerging economies coupled with technology driven farm practices. High priced crops including vegetables and fruits are expected to drive the market demand. Growing protection of cultivated crops is estimated to attract growers around the globe since it offers good returns on investment. Large number of growers entered into the greenhouse system of agriculture production industry to achieve higher rates of return for their products. The use of these fertilizers is expected to be highly seasonal and improved, thus protected crop production is anticipated to drive the market demand for fertilizer products, particularly for water-soluble fertilizers.

Water Soluble Fertilizers Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

Nitrogenous
Phosphatic
Potassium
Micronutrients
Secondary nutrients

Water Soluble Fertilizers Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

Field
Horticultural
Plantation
Turf & ornamental

Water Soluble Fertilizers Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

Fertigation
Foliar

Key players in the market are Yara International, The Mosaic Company, Agrium Inc., ICL Fertilizers, PotashCorp, CF Industries. Other industry participants include QAFCO, Haifa Chemicals, SinoFertK+S AG, Uralchem, and SQM. The water-soluble fertilizers market is expected to be highly fragmented with major players driving the growth through expansions, agreements, new product launches and acquisitions, to develop their position in the market. These strategies were followed by the industry participants to expand their global presence and enhance their product portfolio.

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North America is expected to the largest regional segment in the global market. Extensive use of bio fuels has increased the demand for fertilizers and is driving the growth in this region High consumption of meat and meat products has been driving the high use of fertilizers in North America as it increases the demand in animal feed and feed products. Increasing adoption rate of merchandize and micro irrigation processes in the Asia Pacific region, is expected to witness significant growth rate for water soluble fertilizers.

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