Water Soluble Fertilizers Market

Water Soluble Fertilizers Market Outlook

As per rigorous research by ChemView Consulting, our analysts believe that the global water soluble fertilizers market will grow at a 3.9%?CAGR during the period 2023–2033 to reach a valuation of?US $25,100.6 million by 2033.

Key Findings on the Water Soluble Fertilizers Market

1. Which is the largest market for water soluble fertilizers?

The biggest market for water soluble fertilizers is Europe. As per our analysis, Europe holds nearly 30.2% share of the water soluble fertilizers market.

2. What is the largest crop type segment within the water soluble fertilizers market?

As per ChemView Consulting, the largest segment by crop type is horticulture. As per our analysis, this segment accounts for nearly 56.3% of total revenues.

3. At what rate is the water soluble fertilizers market expected to grow?

The water soluble fertilizers market is expected to grow at a CAGR of 3.9% during the period 2023–2033.

4. What are the major trends influencing the water soluble fertilizers market?

• Customized Nutrient Blends: Farmers are rapidly searching for customised fertilizer solutions to satisfy specific crop and soil needs, which has resulted in the development of customizable water-soluble fertilizer mixes.
• Technological Advancements: Innovations in formulation and manufacturing techniques have enhanced the quality and consistency of water-soluble fertilizers, making them more appealing to farmers.

5. Who are the leading players in the water soluble fertilizers market?

The key companies in the water soluble fertilizers market are Qatar Fertiliser Company (P.S.C.), Coromandel International Limited, SQM (Santiago Chile), ICL Group Ltd., Haifa Group, Gujarat Agro Industries Corporation Ltd., Zuari FarmHub, Nutrien, EuroChem Group AG, and The Mosaic Company.

Key Drivers for Water Soluble Fertilizers Demand

• The ever-increasing worldwide population is a major growth driver for water-soluble fertilizers. As the world’s population grows, there is increasing demand to produce more food in a sustainable way. Water-soluble fertilizers are an important part of modern agriculture, as they help to maximise crop yields while reducing resource waste.
• Additionally, growing environmental concerns, as well as a shift towards more sustainable agriculture practices, have resulted in an increase in the use of water-soluble fertilizers. These fertilizers are more environmentally friendly since they reduce the possibility of nutrient runoff, which can pollute water. They also provide better control over nutrient delivery rates, resulting in less fertilizer waste.

Key Challenges Inhibiting Demand for Water Soluble Fertilizers

• Effective use of water-soluble fertilizers requires knowledge and suitable application methods. A lack of farmer knowledge and awareness about these products may limit their acceptance and utilisation.
• In addition, overuse of water-soluble fertilizers can cause nutrient imbalances in the soil, impacting long-term soil health. This imbalance can affect agricultural yields and quality, causing farmers to lose faith in these products.

Key Challenges & Opportunities for Water Soluble Fertilizers Manufacturers

• Price fluctuations in essential raw materials such as nitrogen, potassium, and phosphorus can have a substantial impact on manufacturing costs, reducing profit margins.
• However, expanding into emerging countries and locations with changing agricultural practises provides chances for water-soluble fertilizer manufacturers to reach new consumer segments, further boosting the market growth.

Country/Region-wise Insights

US Water Soluble Fertilizers Market Forecast

• Growing awareness of sustainable farming practises and environmental conservation in the US market is projected to observe significant growth?in the estimated period.
• In addition, technological improvements and formulation processes are making these fertilizers more efficient and cost-effective, making them an appealing option for farmers aiming to maximise crop yields.

Europe Water Soluble Fertilizers Market Outlook

• Environmental issues and the need for sustainable agriculture practises in the Europe market are anticipated to drive sales in the market over the assessment period. The Europe water soluble fertilizers market is likely to account for 30.2% of the total market share.?
• Additionally, the European Union’s severe limitations on traditional fertilizers are pushing farmers to use more modern and environmentally friendly alternatives, such as water-soluble fertilizers.

Japan Water Soluble Fertilizers Market Forecast

• Increasing farmer awareness of the advantages of water-soluble fertilizers, which provide precise nutrient delivery to crops, resulting in higher yields and quality in the Japan market is anticipated to drive the market over the forecasted period.
• In addition, Japan’s dedication to adopting innovative agricultural technologies and sustainable farming practises fuels demand for water-soluble fertilizers.

China & India Water Soluble Fertilizers Market Forecast

• The increasing population requires higher agricultural productivity to ensure food security in the China & India markets, which is anticipated to fuel the market over the forecast period.
• In addition, government initiatives aimed at promoting sustainable agriculture practices and environmental conservation are driving the use of water-soluble fertilizers.

Water Soluble Fertilizers Market Outlook & Forecast by Segmentation

By Type

Based on type, the nitrogenous segment is anticipated to remain at the forefront of water soluble fertilizers market share over the assessment period. The growth is mainly because nitrogenous fertilizers usually have a high nutrient content, which means that a relatively small quantity of the fertilizer can deliver a significant amount of nitrogen to the plants. As a result, they are both cost-effective and efficient for farmers.

In addition, nitrogenous water-soluble fertilizers can be produced with specific nitrogen compounds such as urea, ammonium nitrate, or ammonium sulphate, which allows customization based on the specific nutrient requirements of different crops and soil types.

By Application

Based on application, the fertigation segment is expected to remain at the forefront of water soluble fertilizers market share over the assessment period. The growth is mainly because fertigation provides for precise control and delivery of fertilizers straight to the plant’s root zone. This strategy guarantees that the plants receive the nutrients they require in the appropriate amounts and at the appropriate time. This efficiency results in higher agricultural yields and quality.

In addition, fertigation reduces nutrient leaching and runoff since fertilizers are dissolved in irrigation water and provided directly to the plants. This has a lower environmental impact and saves water resources.

By Crop Type 

Based on crop type, the horticulture segment is set to account for 56.3% of the water soluble fertilizers market share over the assessment period. The growth is mainly because many horticultural practises, such as greenhouse and hydroponic cultivation, require controlled environments. Water-soluble fertilizers are ideal for CEA systems because they are easily combined with water and given directly to the root zone, improving nutrient uptake in closed systems.

Furthermore, foliar feeding (nutrient administration through the leaves) is a common practise in gardening. Water-soluble fertilizers can be conveniently used as foliar sprays, providing essential nutrients straight to plant foliage. This method may address vitamin deficiencies while promoting healthy growth.

Which Company Owns the Largest Share in the Water Soluble Fertilizers Market??

The key companies in the water soluble fertilizers market are Qatar Fertiliser Company (P.S.C.), Coromandel International Limited, SQM (Santiago Chile), ICL Group Ltd., Haifa Group, Gujarat Agro Industries Corporation Ltd., Zuari FarmHub, Nutrien, EuroChem Group AG, and The Mosaic Company.

Recent Developments:

• In June 2023, ICL Group Ltd., a global leader in agriculture, food, and other sectors, announced the launch of a new line of superior foliar and fertigation solutions marketed under the Nova brand of water-soluble fertilizers. Nova PULSE™, Nova FINISH™, Nova FLOW™, and Nova ELEVATE™ are the company’s flagship products.
• In April 2023, Zuari FarmHub, one of India’s leading agritech players, in collaboration with Novozymes South Asia Pvt. Ltd., launched its 100% water soluble fertilizer “Poorna Advanced” with unique LCO Promoter Technology.
• In January 2020, Gujarat Agro Industries Corporation Ltd., an Indian government agency, launched imported fertilizers that are water soluble. The new-generation fertilizers will be marketed under the ‘AGRO’ brand.

As per our analysis, the companies that hold the largest share in the market are

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Nutrien

Founded in 2018 and with headquarters in Saskatoon, Canada, it is a fertilizer company.

The Mosaic Company 

Founded in 2004 and with headquarters in Tampa, Florida, United States, it is the leading producer of potash and phosphate fertilizer in the United States.

EuroChem Group AG 

Founded in 2001 and headquartered in Zug, Switzerland, it is a fertilizer manufacturer that produces all three main nutrients: phosphates, nitrogen, and potash.

Coromandel International Limited

Founded in 1961 and with headquarters in Secunderabad, it is a crop protection firm.

Haifa Group

Founded in 1966, it is a global leader in specialty fertilizers.

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