The market is expected to generate an incremental $ opportunity of US$ 5365.4 Mn between 2022 and 2030
Category: Chemicals & Materials Published Date : September 2022 ID: CVC-00183 Format: PDF Pages: 305
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.
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.
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 Crop Type:
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Global Soluble Fertilizer Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Form, Crop Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|