Water-soluble Fertilizers Market Size, Industry Overview, Trends, Opportunities, Top Companies, and Forecast

May 28 17:12 2024
Water-soluble Fertilizers Market Size, Industry Overview, Trends, Opportunities, Top Companies, and Forecast
Water-soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, Potassic, and Micronutrients), Mode of Application (Foliar and Fertigation), Form (Dry and Liquid), Crop Type and Region – Global Forecast to 2028

The water-soluble fertilizers market size is projected to reach $25.1 billion by 2028 from $18.3 billion in 2023, growing at a CAGR of 6.5% from 2023 to 2028. The water-soluble fertilizer industry has experienced a shift in demand due to changing consumer preferences and an increasing need for convenience. Water soluble fertilizers offer an advantage over traditional fertilizers, such as their quick dissolving ability in water and a high level of nutrient availability. Companies are investing in R&D to meet the market’s needs.

Water-soluble Fertilizers Market

Water-soluble Fertilizers Market Trends

The water-soluble fertilizers market has been experiencing several key trends:

Growing Demand for High-Quality Crops: With the increasing global population and changing dietary preferences, there’s a rising demand for high-quality crops. Water-soluble fertilizers provide an efficient way to deliver nutrients directly to plants, leading to better yields and quality produce.

Technological Advancements: Continuous advancements in formulation technologies are driving the water-soluble fertilizers market. Manufacturers are developing innovative products with enhanced nutrient delivery systems, controlled-release mechanisms, and improved solubility, catering to the specific needs of different crops and soil conditions.

Environmental Sustainability: There’s a growing emphasis on sustainable agricultural practices to minimize environmental impact. Water-soluble fertilizers offer several environmental benefits, including reduced nutrient leaching and runoff, as well as improved nutrient uptake efficiency by plants. These factors are driving their adoption, especially in regions facing environmental challenges such as water scarcity and soil degradation.

Urban Agriculture and Hydroponics: The rise of urban agriculture and hydroponic farming is fueling the demand for water-soluble fertilizers. These fertilizers are well-suited for hydroponic systems, providing precise control over nutrient delivery and optimizing plant growth in soilless environments. Additionally, they are convenient for urban gardeners and indoor plant enthusiasts due to their ease of use and reduced risk of soil contamination.

Government Initiatives and Regulations: Government initiatives promoting sustainable agriculture and the use of efficient fertilizers are influencing market dynamics. Subsidies, incentives, and regulations aimed at reducing chemical runoff and improving nutrient management practices are encouraging farmers to adopt water-soluble fertilizers.

Increasing Adoption in Developing Regions: Developing regions, particularly in Asia-Pacific and Latin America, are witnessing a rapid adoption of water-soluble fertilizers due to rising awareness about their benefits and the need to enhance agricultural productivity. Market players are expanding their presence in these regions through partnerships, acquisitions, and investments in distribution networks.

Product Diversification and Customization: To cater to diverse agricultural needs, manufacturers are diversifying their product portfolios and offering customized solutions. This includes fertilizers with specific nutrient compositions tailored to different crops, growth stages, and soil conditions, as well as specialty formulations for niche applications such as foliar feeding and fertigation.

Market Consolidation and Strategic Alliances: The water-soluble fertilizers market is witnessing consolidation as larger players acquire smaller companies to expand their product offerings and geographical reach. Strategic alliances between manufacturers, distributors, and research institutions are also driving innovation and market growth through collaborative R&D efforts and knowledge sharing.

Water-soluble Fertilizers Market Opportunities: Growing demand for water-soluble nutrients

Water soluble fertilizers include NPK, ammonium sulfate, dipotassium phosphate, potassium nitrate, and monopotassium phosphate. The growing population is increasing the demand for food crops, food grains, vegetables, and fruits. The rising adoption of micro irrigation, as it distributes fertilizers evenly and improves growth efficiency, will increase demand for the product. The availability of agricultural loans by the Indian Government, along with the implementation of the “Make in India” policy, will result in fueling the growth of the market.

Based on Type, Nitrogenous is anticipated to dominate the market

Nitrogenous fertilizers as per the management practices, are invariably applied at the early growth stages of the crop. The nitrogenous fertilizer industry includes the production of synthetic ammonia, nitric acid, ammonium nitrate, and urea. Nitrogen is absorbed by the plant roots in two forms: nitrate (NO3) and ammonia (NH4). Most crop plants prefer nitrogen in nitrate form. Nitrogen-deficient plants produce smaller than normal fruits, leaves, and shoots and can develop bigger than normal later.

Asia Pacific provides the highest growth prospects for the water-soluble fertilizers market in 2023

Asia Pacific is highly dependent on agriculture, with countries like India and China being agricultural dominant countries. The prime factor contributing to the growth of water-soluble fertilizers in the region is the growing adoption of water-soluble fertilizers to meet the intensifying food demand and escalating population. Additionally, key players like Nutrien (Canada), Israel Chemical Company (Israel), Yara International (Norway), and others have a strong presence and market share in the region, which further boost the vitamin market in the Asia Pacific.

Top Water-soluble Fertilizers Companies

The key players in the water soluble fertilizers industry are Nutrien (Canada), Israel Chemical Company (Israel), Sociedad Química y Minera De Chile (SQM) (Chile), K+S Aktiengesellschaft (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), Coromandel International Ltd (India), The Mosaic Company (US), Hebei Monband Water Soluble Fertilizer Co., Ltd (China), EuroChem (Switzerland), among others. They recently have adopted key strategies leading the market players including product launches, agreements, and expansions to maintain their position in the market.

Nutrien is a Canadian fertilizer company, which is the largest producer of potash and the third-largest producer of nitrogen fertilizers in the world. It is the global agriculture retail network in major regions such as North America, South America, Europe, and Australia. The company entered several definitive agreements to acquire agricultural retailers across strategically important Brazil and the US regions. In July 2022, Nutrien announced that the company entered into an agreement to acquire Casa do Adubo, a Brazilian company, for approximately USD 400 Million. The acquisition includes 39 retail locations under Casa do Adubo, and 10 distribution centers, under Agrodistribuidor Casal.

Israel Chemical Ltd. is an Israel-based company that specialty manufactures fertilizers & phosphates and flame retardants & water treatment solutions. It manufactures liquid and water-soluble fertilizers and compound fertilizers in Spain, Holland, Germany, and Belgium and markets its fertilizer products globally, mainly in Europe, Brazil, India, China, and Israel. In June 2022, Israel Chemical Ltd. announced a long-term agreement with Indian Potash Limited (India) to supply polysulfate with a renewable option. The availability of polysulfate is expected to boost the ndian Government’s organic agriculture program. It will also help Israel Chemical Company penetrate and serve the Indian farmers as per their requirements and strengthen its position in the Indian and Asian markets.

Key Questions Addressed by the Water-soluble Fertilizers Market Report:

Which are the major companies in the water-soluble fertilizers market? What are their major strategies to strengthen their presence?

What are the drivers and opportunities for the water-soluble fertilizers market?

Which region is estimated to hold the highest market share?

What is the total CAGR projected to be recorded for the potassic segment market from 2023 to 2028?

What kind of information is provided in the competitive landscape section?

Related Reports:

Controlled-release Fertilizers Market

Biofertilizers Market

Specialty Fertilizers Market

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