Water Soluble Fertilizer Market Growth | Major Players and Business Drivers | Forecast To 2024

Felton, Calif., USA, Dec. 30, 2020 — /EPR Network/ —

The global Water Soluble Fertilizer Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:

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.

Key Players:

  • Agrium
  • Yara International ASA
  • Israel Chemical Ltd.
  • Haifa Chemicals
  • The Mosaic Company
  • Compo GmbH & Co. KG
  • Coromandel International
  • Hebei Monband
  • K+S AG
  • Sociedad Química Y Minera SA
  • Sinochem Fertilizer Company

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Growth Drivers:

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.

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.

Crop Type Outlook:

  • Field
  • Horticultural
  • Plantation
  • Turf & ornamental

Field corps constitutes the largest segment in the global market owing to its wide applications across the globe. These crops are grown for agricultural purposes and are consumed by people. Growing population and demand for vegetables and fruits is expected to be the driving factor for the market growth in this segment.

Product Outlook:

  • Nitrogenous
  • Phosphatic
  • Potassium
  • Micronutrients
  • Secondary nutrients

Regional Outlook:

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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