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The Global Water Soluble Fertilizers Market is forecast to increase by USD 2.75 billion at a CAGR of 5.69% between 2022 and 2027. The market experiences growth driven by significant factors within the agricultural sector. With developing countries witnessing an upsurge in demand for agricultural products, there's a corresponding increase in the adoption of water-soluble fertilizers to enhance crop yields. Moreover, growth in the fertilizer industry amplifies the market's expansion, as water-soluble fertilizers offer efficient nutrient delivery systems for crops. Additionally, the reduction in arable land worldwide underscores the necessity for enhanced fertilizer solutions, further driving the demand for water-soluble fertilizers in agriculture. This dynamic market landscape reflects the crucial role of water-soluble fertilizers in addressing global agricultural challenges and meeting growing food demand. This report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market share growth by the fertigation segment will be significant during the forecast period. Fertigation is a process that combines fertilization and irrigation by introducing fertilizers, soil amendments, and other chemical products into the irrigation system. This method is mainly used in extensive agriculture and horticulture applications. The better efficiency and high utilization rate of fertilizers used for this application make them suitable for water-soluble fertilizers.
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The fertigation segment was valued at USD 4.85 billion in 2017 and continued to grow until 2021. A few of the various benefits of fertigation include uniform distribution of nutrients, improved nutrient absorption, the controlled absorption rate of fertilizers used for plant growth, minimized nutrient loss, reduces soil erosion, and direct application of nutrients to the roots. Furthermore, the process reduces water consumption and minimizes the risk of diseases, including soil-borne diseases contracted by roots. Therefore, the above-mentioned factors are expected to drive the demand for fertigation, thereby fueling market growth during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to Companies is Europe. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In Europe, many countries, including Spain, Ukraine, Germany, Russia, and the UK, exhibit a high demand for these fertilizers. A few of the major factors increasing the regional growth include the rising demand for specialty fertilizers to enhance the quality of production, changing climatic conditions, and the high penetration of companies that produce specialized fertilizers in the region is expected to propel the growth of the regional market during the forecast period.
Furthermore, the agriculture sector in Europe is well-developed and uses various technologies to improve farming. Farmers use digital technologies and precision agriculture (PA), to identify optimum conditions for plant growth. Hence, growth in the agriculture sector in Europe will also increase the demand for these fertilizers during the forecast period.
The market thrives on the demand for efficient nutrient delivery in agriculture, utilizing nitrogen, phosphorus, and potassium to enhance crop harvests while addressing population-driven food demand. With a focus on organic farming and sustainable practices, the market balances natural and synthetic solutions, including specialty fertilizers like urea and ammonium nitrate. Amid fluctuating natural gas prices impacting the production of synthetic ammonia and nitric acid, water-soluble fertilizers emerge as a preferred choice for fertigation and foliar application, meeting the needs of modern cultivation methods and ensuring nutrient accessibility for crops worldwide. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The reduction in arable land is notably driving the water-soluble fertilizers market growth. The surge in demand is significantly fueled by the reduction in arable land. Factors such as rapid industrialization and urbanization have contributed to the diminishing availability of arable land. Additionally, unsustainable agricultural practices and widespread deforestation have further depleted the fertility of arable land on a global scale. To address the challenge of food production, enhancing crop yields from existing farmland becomes imperative. Utilizing them emerges as a viable solution to augment food crop yields.
Moreover, research indicates a substantial increase in global food grain demand by 2030, driven primarily by the burgeoning population worldwide. Developing nations like Brazil and India are projected to require an additional 120 million hectares of land by 2030 to meet the escalating demand for food grains. Consequently, the dwindling availability of arable land is anticipated to bolster the demand for fertilizers, particularly water-soluble variants, to fulfill the mounting food requirements. This trend is poised to underpin the growth trajectory of the market throughout the forecast period.
The rise in demand for micronutrient-based water-soluble fertilizers is an emerging trend in the market. Micronutrients are trace minerals required in small quantities by plants. Irrespective of the low quantity requirement of micronutrients, some of the critical plant functions are limited by the deficiency of micronutrients resulting in low yield, reduced growth, and other plant abnormalities. The micronutrients, including zinc, iron, and magnesium, are required at different stages of plant growth.
They can be easily applied to plants and are used to overcome micronutrient deficiency in plants. These fertilizers improve the nutritional content of horticultural crops, including fruits and vegetables. Hence, these factors will support the growth of the market during the forecast period.
Volatility in raw material prices is a major challenge impeding market growth. They mainly include substances derived from nitrogen, potassium, and phosphorus. Furthermore, natural gas, potassium chloride, sulfur, and coal are used to produce such fertilizers. Hence, an increase in raw material prices increases the production cost and reduces the profit margins of manufacturers.
Natural gas is one of the major raw materials used to produce nitrogen-based water-soluble fertilizers. The hydrogen required to produce such fertilizers is extracted from natural gas. Thus, an increase in natural gas prices adversely affects their demand. Therefore, fluctuations in raw material prices can have a negative impact on the global market during the forecast period.
This market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Water Soluble-Fertilizers Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cifo Srl - The company offers manufacturing and production of agricultural chemicals. The key offerings of the company include water-soluble fertilizers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market is influenced by various factors, including the rise of organic farming practices and geopolitical tensions such as the Ukrainian conflict impacting the supply of key ingredients like synthetic ammonia and nitric acid. These fertilizers, such as ammonium nitrate and urea, are essential for crop harvest and ensuring nutrient accessibility for optimal growth. However, alongside conventional fertilizers, the demand for dry water-soluble fertilizers is increasing due to their ease of use and effectiveness in cultivation.
As synthetic options face scrutiny, the market is witnessing a shift towards more sustainable and environmentally friendly alternatives, highlighting the importance of solvent solutions in modern agriculture. The market encompasses various modes of application, including the foliar mode, particularly beneficial for field crops and gardening activities. With offerings available in dry and liquid forms, companies like Casa do Adubo are prominent players in the industry, providing solutions such as polysulfate fertilizers. These products cater to diverse needs, targeting specific segments like nitrogenous, phosphatic, and potassium requirements, vital for oilseeds, grain plantations, and overall agricultural productivity.
Amid concerns over land availability and environmental sustainability, the market is witnessing a surge in demand for NPK fertilizers and micronutrient-rich options, reflecting a broader emphasis on food security and nutrition enhancement through advanced farming techniques and the utilization of natural fertilizers. In the realm of agriculture, the foliar mode of application stands out as an effective method for delivering nutrients directly to plants through their leaves. Farmers have a choice between dry and liquid forms of fertilizers, each offering distinct advantages based on their application needs. They are available in various physical forms, including granules and powder, providing flexibility in usage and application. Within the fertilizer market, the nitrogenous segment holds particular significance, as nitrogen is a vital nutrient for plant growth and development.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Water Soluble-Fertilizers Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
Market growth 2023-2027 |
USD 2.75 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.56 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Spain, Russia, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Captain Polyplast Ltd., CF Industries Holdings Inc., Cifo Srl, Compagnie Financiere et de Participations Roullier, E.I.D. Parry India Ltd., Green Has Italia SPA, Grupa Azoty SA, Gujarat State-Fertilizers and Chemicals Ltd., Haifa Negev technologies Ltd., Indian Farmers Fertiliser Cooperative Ltd., Industries Qatar Q.P.S.C, Israel Chemicals Ltd., KS Aktiengesellschaft, Nutrien Ltd., Sinofert Holding Ltd., Sociedad Quimica y Minera de Chile SA, The Mosaic Co., Uralchem JSC, Yara International ASA., and Zuari Agro Chemicals Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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