The global water-soluble fertilizer market size is expected to grow from USD 15 billion to USD 29.5 billion in 10 years. The market will witness rapid growth during the forecast period due to favorable government regulations. Europe emerged as the most important global water-soluble fertilizer market with a market revenue share of 43% in 2023.
NEWARK, May 20, 2024 (GLOBE NEWSWIRE) — Brainy Insights forecasts the global water-soluble fertilizer market from US$15 billion in 2023 to US$29.5 billion in 2033. His one type of fertilizer that dissolves in water is called water-soluble fertilizer. fertilizer. A type of fertilizer that dissolves in water is called a water-soluble fertilizer. These substances exhibit good solubility, rapid absorption by plants, and flexibility in terms of delivery technology. These fertilizers contain micronutrients such as calcium, sulfur, and magnesium, and macronutrients such as potassium, phosphorus, and nitrogen. Plant roots quickly absorb these, causing rapid nutrient uptake and a visible growth response. Water-soluble fertilizers allow users to precisely control the concentration of nutrients, allowing them to customize fertilizer treatments according to plant requirements and growth stages.
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Wood Chipper Market Scope
|
Report scope |
detail |
|
CAGR |
3.43% from 2024 to 2033 |
|
Market size in 2023 |
303.45 million USD |
|
Market size by 2033 |
$425.16 million |
|
biggest market |
North America |
|
base year |
2023 |
|
Forecast year |
2024 to 2033 |
|
historic year |
2020-2022 |
|
Target segment |
Product, end user, crop type |
|
Target area |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Water-soluble fertilizers are easy to use, manage, and store. Its versatility, including applications such as fertilization irrigation and foliar spraying, makes it suitable for both large-scale agriculture and small-scale horticulture. These fertilizers are suitable for modern agricultural techniques such as precision farming, greenhouse cultivation, and hydroponics. Water-soluble fertilizers have a positive impact on plant health, crop yield and product quality. Water-soluble fertilizers control nutrient supply, minimize nutrient runoff and leaching, reduce the risk of environmental pollution, and increase the sustainability of agricultural practices.
Key Insights on the Global Water Soluble Fertilizer Market
Europe will dominate the market during the forecast period.
The region's strict fertilizer use and environmental protection laws encourage the adoption of water-soluble fertilizers. Europe's emphasis on environmentally friendly and sustainable agriculture encourages the adoption of cutting-edge fertilization methods such as water-soluble fertilizers. European agricultural innovation and research has played an important role in creating high-quality water-soluble fertilizers. Demand for water-soluble fertilizers is being driven by the increasing adoption of sustainable farming practices by European farmers. Europe's dominance in the market is due to its strong regulatory framework, technological innovation, dedication to sustainable agricultural techniques, and solid market demand.
In 2023, the liquid segment dominated the market with a market share of 80% and a revenue of 12 billion.
The foam segment is divided into dry and liquid. In 2023, the liquid segment dominated the market with a market share of 80% and a revenue of 12 billion.
In 2023, the nitrogen segment dominated the market with the largest market share of 47% and revenue of 7.05 billion.
Type segments are classified into nitrogen, potassium, phosphate, secondary nutrients, and micronutrients. In 2023, the nitrogen segment dominated the market with a market share of 47% and a revenue of 7.05 billion.
In 2023, the irrigation segment dominated the market with a market share of 67% and revenue of 10.05 billion.
The application segment is divided into foliar spraying and fertilization. In 2023, the irrigation segment dominated the market with the largest share of 67% and revenue of 10.05 billion.
In 2023, the horticulture sector dominated the market with a market share of 37% and a revenue of 5.55 billion.
The crop type segment is categorized into field crops, horticultural crops, turf and ornamental crops, and other. In 2023, the horticulture sector dominated the market with a market share of 37% and a revenue of 5.55 billion.
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market progress
At a function in Ahmedabad, Gujarat Agricultural Industries Corporation (GAIC) introduced several grades of imported water-soluble fertilizers. Gujarat has emerged as the leading state in terms of area of land under drip irrigation. The next development in precision agriculture is the use of water-soluble fertilizers to produce fruits and vegetables that meet international standards.
Market trend
Promoter: The population is expanding.
Global population growth has led to a significant surge in food demand. To meet this demand, water-soluble fertilizers that increase crop yields are essential. These are essential to meeting the food needs of a growing population, as they can provide important nutrients directly to plant roots and promote optimal growth. The development of specialized water-soluble fertilizers suited to specific crop needs, soil conditions, and environmental considerations is the result of recent advances in fertilizer formulation technology. More effective, efficient and environmentally friendly fertilizers are the result of these improvements. Nowadays, farmers can choose from a variety of water-soluble fertilizers that optimize production while reducing negative environmental impact. Consumer preferences for healthy, safe and environmentally friendly foods are also changing. The growing need for water-soluble fertilizers is also due to changing customer expectations for nutritious, safe and responsibly produced food. A variety of factors are increasing the need for water-soluble fertilizers, including increasing food and population demands, technological developments in fertilizer composition, and changing customer expectations for safety and quality.
Constraints: Rising prices of water-soluble fertilizers.
Producing water-soluble fertilizers requires more complex procedures, specialized tools, and machinery. Production involves complex operations, which increases labor and energy expenditures. Additionally, water-soluble fertilizers require special packaging to avoid moisture absorption and maintain product quality, increasing handling and packaging costs. Water-soluble fertilizers are hygroscopic and require closed containers and controlled humidity levels to prevent deterioration, resulting in significantly higher transportation and storage costs. Farmers often incur additional maintenance and investment costs because specialized equipment is required to apply water-soluble fertilizers. The scarcity of water-soluble fertilizers and low market demand will further increase prices. Therefore, an increase in the price of water-soluble fertilizers will reduce market demand.
Opportunities: Favorable laws and regulations.
Globally, governments are enacting laws to encourage environmentally friendly farming practices and reduce their negative impacts. These laws often restrict the application of conventional fertilizers while encouraging the use of more environmentally friendly alternatives such as water-soluble fertilizers. Government financial incentives and subsidies encourage farmers to switch to water-soluble fertilizers and encourage widespread adoption. Environmental concerns over the use of traditional fertilizers are accelerating the movement toward water-soluble fertilizers. As a result, government restrictions and subsidies will support market expansion during the forecast period.
Challenge: Lack of infrastructure to widely disseminate water-soluble fertilizers.
To effectively introduce water-soluble fertilizers, access to clean water for proper dissolution and application is essential. However, they face challenges in areas where water availability is limited or water quality is poor. Commonly used fertilizer application systems require investment in irrigation infrastructure, which is difficult for the majority of smallholder farmers in most countries. Storage facilities with environmental control mechanisms are essential to maintain the quality of water-soluble fertilizers. Inadequate storage infrastructure can lead to product damage and financial loss. Additionally, inefficient distribution networks hinder timely and reliable access to water-soluble fertilizers. Thus, infrastructure challenges hinder the market growth.
The major companies operating in the global water-soluble fertilizer market are:
・Agrium Co., Ltd.
• Coromandel International Co., Ltd.
• Haifa Chemicals Co., Ltd.
• Indian Farmers Fertilizer Cooperative Society
• Israel Chemical Co., Ltd.
• Fertilizer companies in Qatar
• Rashtriya chemicals/fertilizers.
• Mosaic Company
• Yara International ASA
• Zuari Industries Co., Ltd.
Key segments covered in the market:
By form
• dry
• liquid
By type
• nitrogen
• Potassium
• Phosphate
• Secondary nutrients
• Micronutrients
By use
• Foliage
• Fertilization
By crop type
• Field crops
• Horticulture
• Lawns and ornamental plants.
• others
By region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, and other Asia-Pacific regions)
• South America (Brazil and other South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed on the basis of value (USD Billion). All segments are analyzed on global, regional and country basis. The study includes analysis of more than 30 countries in each part. The report analyzes drivers, opportunities, constraints, and challenges to gain key market insights. This research includes Porter's Five Forces Model, attractiveness analysis, product analysis, supply and demand analysis, competitive position grid analysis, distribution, and marketing channel analysis.
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