Soluble Fertilizer Market

Soluble Fertilizer Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Soluble Fertilizer Market was worth US$ 7,606.5 Mn and is expected to grow at a CAGR of 6.9% over the forecast period. The market is expected to hit US$ 12,971.9 Mn by 2030 end.

Water soluble fertilizers dissolve in water and are administered to plants’ roots or leaves throughout the growing season. Fertilizer addition frequently doubles or triples production. The ever-increasing need for agricultural goods is the primary driver of the rise in demand for water-soluble fertilizers.

The major benefit of water-soluble fertilizer over other fertilizers is that it has a faster impact, is easier to apply, and has wider coverage.

Market Dynamic

INCREASING POPULATIONS ARE THE DRIVER OF THE MARKET GROWTH

The biggest reason for rising food consumption is the world’s growing population. As a result, the yield generated must be sufficient to fulfill the demands. Another increasing demand for water soluble fertilizers is an optimistic perspective on leveraging technology and innovative products to increase production.

The rising population’s need for food security, advancements in agricultural methods and technology, increased demand for fruits and vegetables, and the ease of application of water-soluble fertilizers are driving market expansion.

The market’s primary drivers include its broader applications in greenhouse technology, government subsidies for adopting this technology, economic incentives for Fertigation to reduce groundwater usage, and increased demand for micro-irrigation systems.

ENVIRONMENTAL  CONCERNS  & STRINGENT REGULATIONS HAMPER THE MARKET GROWTH

The detrimental environmental impacts of fertilizer use, such as ecological imbalance and excessive residues of fertilizers in food and water supplies, may limit the use of water-soluble fertilizers. Furthermore, rigorous government regulations and increased awareness of organic farming may reduce usage and demand for water-soluble fertilizers.

Covid-19 Impact

The pandemic’s emergence has had a detrimental influence on the worldwide market owing to different socio-economic shifts that have emerged throughout this epidemic. The suspension in manufacturing specialty fertilizers in numerous important regions due to the lockdown has resulted in a delay in overall output.

Trade restrictions enforced by numerous countries worldwide have interrupted the supply chain for these fertilizers.

Market Segments Covered in Report

By Type:

• Nitrogen(N)
• Potassium(K)
• Phosphate(PO43-)
• Secondary Nutrients
• Micro-nutrients
• By Form: Liquid
• Powder
• Granules

By Crop Type:

• Field crops
• Horticultural crops
• Turf & ornamentals
• Others (which include plantation crops and hydroponics)

By Application:

• Foliar
• Fertigation

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which Type segment is likely to increase the quickest over the forecast period?

The nitrogenous segment is projected to be the fastest-growing type of water-soluble fertilizers. It is due to the high crop loss by nutrient deficiency and the high efficiency of nitrogenous water-soluble fertilizers to reduce this crop loss.

Which crop type is expected to increase demand throughout the forecast period?

The market for horticultural crops is the highest and is also projected to be the fastest-growing. It is mainly due to the growing population worldwide’s high demand for fruits & vegetables.

Why is the Fertigation segment expected to expand the fastest during the forecast period?

Fertigation is highly used for applying water-soluble fertilizers. To improve fertility and increase the productivity of plants, Fertigation is effectively used to control nutritional deficiency. The increasing acceptance of micro and precision irrigation techniques has proven to be a major driving factor for the fertigation application.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With more than a third of overall use, Europe is the largest worldwide water soluble fertilizer market. Nearly 0% of the growth is attributed to the Europe region. Increased farmer knowledge of the benefits of water-soluble fertilizers and population expansion are driving market growth in this region.
• With investments from various multinational manufacturers, the worldwide market in the Asia-Pacific region is expected to increase. The market is expected to expand as agricultural technology, and agricultural exports of major goods rise. Furthermore, considerable R&D efforts have been performed to investigate novel forms of water-soluble fertilizers for various nutrient deficits and soil fertility to boost production.

Competition Analysis

Because of the presence of multiple small and large-scale producers, the market is very competitive. To gain a competitive edge through combined synergies, important participants have been exploring new territories through new product launches, alliances, and acquisitions throughout the world.

Some of the key developments that have taken place in the Soluble Fertilizer Market include:

• In December 2019, Van Iperen International expanded its foothold in the United States through its subsidiary. The firm only works with Milliken to provide a wide selection of specialty fertilizers.
• In January 2020, Gujrat Agro Industries Corporation, an Indian government organization supporting agro-based industries, introduced imported WSF products. The product will be labeled “AGRO,” the agency’s next-generation fertilizer brand.

A list of some of the key suppliers present in the market are:

• Yara International ASA
• Agrium Inc.
• K+S Aktiengesellschaft
• Coromandel International Limited
• Compo GmbH & Co
• Haifa Chemicals Limited
• Sociedad Quimica Y Minera SA
• Israel Chemical Limited
• The Mosaic Company
• EuroChem

Global Soluble Fertilizer Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies