Water Soluble Fertilizers Market

Water Soluble Fertilizers Market Outlook (2022-2032)

The global water soluble fertilizer market is anticipated to be worth US$ 7,110.1 Mn in 2022 and is expected to grow at a CAGR of 6.7% to surpass US$ 13,599.4 Mn by 2032. With an increased need for food security for the world's rising population, limited agricultural land available, and an increase in crop loss due to nutrient shortage, the demand for water soluble fertilizers is predicted to grow during the forecast period.

“Water soluble fertilizers are becoming a significant component of the agriculture industry in developing nations due to continuous research and development and active engagement by fertilizer manufacturers.”

In the forecast period, the sales of water soluble fertilizers are likely to be largely driven by the world's expanding population and rising food consumption. This is because these fertilizers have several benefits over traditional fertilizers, such as a high rate of consumption, greater crop production in constrained regions, and also an improvement in nutrient availability in the soil. Farmers and agricultural producers may now employ water soluble fertilizers more effectively due to technological developments in application methods including foliar and fertigation techniques. This has also reduced the chance of overusing water soluble fertilizers in a particular location, boosting the market growth.

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What are the Sales Drivers of Water Soluble Fertilizers?

“Increasing demand for high-value crop products to fuel market expansion”.

Due to the growing need for specialty fertilizers to boost the production of high-quality crops, the demand for water soluble fertilizers is anticipated to continue increasing over the upcoming years. Concerns about food security and current methods of food production have been raised as a result of the expanding global population in numerous emerging and underdeveloped nations.

Growing government initiatives to boost specialized fertilizers and the introduction of initiatives to educate farmers about the new fertiliser type and its advantages is likely to support market expansion. However, the high cost of water soluble fertilizers may significantly impede market expansion, necessitating facilities for government subsidies.

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Increasing Investment in Product Development by Major Players in the Market to Drive the Demand

Players in the water soluble fertilizers industry are always striving to create and provide new products to establish their dominance. They have recognized the water soluble fertilizer industry's potential for future growth. Companies are increasing the production of different water soluble fertilizers grades and broadening their global reach, which is boosting awareness and demand for these fertilizers in nations where agriculture is the primary industry. For instance, in January 2020, the Gujarat Agro Industries Corporation (GAIC) launched a line of imported water soluble fertiliser products under the name "Agro." The brand's offerings include stage- and crop-specific tailored fertilizer grades.

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Category-wise Insights

Which is the Most Popular Form of Water soluble Fertilizers?

By 2032, the market for liquid water soluble fertilizers is expected to reach more than USD 1.3 billion. Due to their application versatility - they may either be administered topically through fertigation or subsurface through foliar application–liquid water soluble fertilizers have seen a substantial increase in popularity in recent years. It is also more suited for starter and in-season applications because of its ease of handling, mixing, and consistency during application. Additionally, liquid water soluble fertilizers consume less water, which makes them advantageous for areas with persistent water scarcity or shortages. However, the product's high manufacturing and delivery expenses might limit its market share in the upcoming years.

Which Product Segment Dominates the Water soluble Fertilizers Market?

By 2032, more than 7 million tonnes of nitrogenous-based water soluble fertilizers are anticipated to be consumed globally. Urea, ammonium nitrate, calcium nitrate, and other nitrogen-based water soluble fertilizers, including ammonium sulphate, magnesium nitrate, etc. For plants to grow and develop, nitrogen is necessary for the synthesis of amino acids, which serve as the building blocks for the synthesis of proteins.

In addition, nitrogen is a key component of chlorophyll that is necessary for several enzymatic processes. As a result, a plant's nitrogen supply controls its growth, color, vigor, and yield. In terms of volume, calcium nitrate leads the nitrogenous-based water soluble fertiliser market.

Which Category Is Most Likely to Dominate the Market by Mode of Application?

By 2032, the foliar feeding market for water soluble fertilizers is likely to generate more than 30% of total revenue. In cold climatic zones when the soil is not heated because the plant roots are dormant, foliar feeding is common. Foliar feeding, or applying fertiliser directly to the leaves, is the greatest method for preventing nutrient deficits in plants and promoting development even in unfavorable weather circumstances. Foliar fertilisation is also an environmentally benign procedure that lessens the loss of nitrates and other components from the environment, lessens water pollution, and keeps the soil productive.

Which Segment is Likely to Lead the Water Soluble Fertilizers Market by End User?

Through 2032, the market for water soluble fertilizers in the cereals sector is projected to grow at a rate of about 6%. The production of barley, wheat, buckwheat, maize, millet, rice, and paddy is growing in demand due to rising markets in Asia Pacific, Africa, and Europe. To replenish the necessary nutrients (nitrogen, phosphorous, and potassium) present naturally in the soil, water-soluble fertilizers are used in agricultural areas. This is likely to increase demand for grain farming around the world. Wide-ranging uses for water-soluble fertilizers may be found in the farming of grains like rice, wheat, maize, etc.

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Comparative View of Adjacent Water Soluble Fertilizers Market

Comparative View of Adjacent Specialty Fertilizers Market

Comparative View of Adjacent Fertilizer Market

Country-wise Insights

How United States Shape Water Soluble Fertilizers Market Growth?

Due to the growing use of high-quality crop nutrition products in the region, the U.S. is expected to dominate the global market for water soluble fertilizers. In U.S. and Canada, there is a rising demand for water soluble fertilizers that can manage the nutritional requirements of plants and provide them with the necessary nourishment at the proper time intervals.

The regional market is expanding as a result of increased knowledge among farmers in the area of the many water soluble fertilizers available on the market and the benefits connected with their use. Moreover, the region's market expansion is being greatly aided by the presence of top-producing firms like FMC Corporation, Nutrien Ltd., and others.

What Prospects are in Store for the Water Soluble Fertilizers Market in Europe?

Due to the widespread adoption of water soluble fertilizers in nations like Russia, Spain, and France, Europe now retains the biggest market share for water soluble fertilizers. The market is growing as a result of Europe's changing climate and the increasing penetration of international producers of water soluble fertilizers in the European market.

Furthermore, the market size in Europe is likely to grow as regional conventional fertiliser leaders expand their enterprises into the aforementioned fertiliser sector. For instance, in 2018 the Swiss-based Eurochem Group, a large worldwide agribusiness group of key industry participants, joined the water soluble fertilizer market by opening a USD 16 million water soluble fertiliser production facility in Lithuania (Europe).

How South Korea contributes to the Global Market for Water Soluble Fertilizers?

It is anticipated that the demand for water-soluble fertilizers is likely to rise across Korea as a result of an increase in the production of high-value crops in South Korea as a result of rising urbanization, a strengthening economy, and more trade liberalisation. Subsidizing water soluble fertiliser in developing markets is anticipated to boost the use of these fertilizers by farmers. For instance, to increase the effectiveness of fertiliser usage and increase agricultural production in the nation, the Korean government offered fertiliser companies different facilities to provide novel, specially designed, and specialty fertiliser products.

What are the Future Growth Prospects for Japan's Water Soluble Fertilizers Market?

The Japan market is anticipated to develop at the quickest compound annual growth rate (CAGR) of 5.33% during the projected period. Asian nations with a focus on agriculture are seeing a rise in demand for water soluble fertilizers due to depleting arable land and scarce water supplies.

The demand for unique agricultural solutions is expanding in the region due to awareness of the growing need for efficient fertilizers to support a range of crop and plant development under varied environmental circumstances. Multinational agricultural behemoths like ICL, Nutrien, Yara, and others have significantly increased their investment in Japan as it emerges as a lucrative market for innovative fertilizers with significant room for expansion.

Companies to Concentrate on the Launch of Innovative Products and Mergers & Acquisitions

Strengthening their product portfolios of specialty fertilizers is a priority for dominant market companies in the sector including Nutrien Ltd., Israel Chemicals Ltd., Haifa Chemicals, and others. One of the key players in the sector is developing as Nutrien Ltd. It was created in 2017 as a result of the union of PotashCorp and Agrium, two enormous worldwide fertiliser companies. To enhance its market domination and share, the corporation is concentrating on product launches, acquisitions, and partnership tactics.

• In January 2020, Agrosema Comercial Agricola Ltda, a Brazilian agricultural retailer, was to be acquired by Nutrien Ltd. The goal of this acquisition is to increase market penetration in South America's traditional or niche fertiliser sector.
• In January 2018, Brazilian company Agrichem, a pioneer in the production of specialized plant nutrition products, was acquired by Nutrien Ltd.
• With the help of its subsidiary, Van Iperen International boosted its market share in the United States in December 2019. To provide an extensive selection of specialist fertilizers, the firm solely partners with Milliken.

Report Scope

Key Segments Covered in the Water Soluble Fertilizers Industry Report

By Form

• Dry
  • Powder
  • Granules
• Liquid

By Product

• Nitrogenous
  • Urea
  • Ammonium Nitrate
  • Calcium Nitrate
  • Others (Ammonium sulfate, Magnesium nitrate, etc.)
• Micronutrients
  • Iron
  • Manganese
  • Zinc
  • Others (Copper, boron, etc.)
• Phosphatic
  • Mono-ammonium phosphate
  • Phosphoric Acid
  • Mono Potassium Phosphate
  • Others (Dipotassium Phosphate, Urea Phosphate, etc.)
• Potassium
  • Potassium chloride
  • Potassium sulfate
  • Potassium nitrate

By Mode of Application

• Foliar
• Fertigation

By Crop

• Cereals
• Vegetables
• Fruits
• Plantation
• Turf & ornamentals
• Greenhouse crops

By Region

• North America Market
• Europe Market
• Asia-Pacific Market
• Middle East & Africa Market
• South America Market