Water-Soluble Fertilizers Market Report, By Product Type, Crop Type, Application and Geography – Global Market Share, Trend Analysis & Forecast Up To 2024
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Global demand for fertilizer nutrients is estimated to grow at an approximate CAGR of 2 to 3% percent from 2019. Providing the appropriate fertility levels is one of the most important aspects of producing greenhouse crops. Many growers use water soluble fertilizers to deliver nutrients to their plants. There are several factors to consider when using WSFs; some of them include the fertilizer’s formulation, the source of nutrients it is made of, its solubility, its basic or acidic properties, and price. Water soluble fertilizers have more rapid impact and are easy to use. Water soluble fertilizers can also be applied more frequently than granular fertilizers, therefore can be used according to the need and availability. Ever growing demand for agricultural products is the major reason for growth in demand of water soluble fertilizers.
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Key driving factors of the water fertilizers soluble market report:
The major drivers for water soluble fertilizers are growing population, rise in need for food security and change in farming practices. Also, wider applications of green house, government subsidies for adoption of this technology, economic incentives with fertigation to ground water consumption and rising demand for micro-irrigation systems. Also, the harmful environmental effects of use of fertilizers such as imbalance in ecology, high traces of fertilizers in food and water resources may restrain the consumption of water soluble fertilizers. Furthermore, stringent government laws and awareness towards organic farming may slow down the consumption and demand of water soluble fertilizer in coming years.
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On the basis of product type, the global water soluble fertilizer market:
Nitrogen, Potassium, Phosphate, Secondary nutrients and Micro-nutrients. As nitrogenous fertilizer plays a vital role in crop growth, its ratio in fertilizer mixture is more. Therefore, maximum quantity of nitrogenous fertilizer is used as compare to other fertilizers.
By end user application, the global water soluble fertilizers market: The usage of fertigation application is comparatively cheaper than foliar application. Therefore, fertigation application is preferable over foliar applications.
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By Geography, the global water soluble fertilizer market: Europe, North America, APAC, MEA and Rest of the World. Due to increasing adoption rate of micro and merchandize irrigation systems in the Asia Pacific region, the demand for water soluble fertilizers is expected to increase.
Some of the key players of Global Water Soluble Fertilizers Market: Agrium Inc., Israel Chemical Ltd., The Mosaic Company, Haifa Chemicals Ltd., Yara International ASA, Zuari Industries, Indian Farmers Fertilizers Cooperative, Coromandel International, Rashtriya Chemicals & Fertilizers, Hebei Monband, Sinochem Fertilizer, Compo GmbH, K+S Aktiengesellschaft etc.
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