According to a research report by Stratview Research, the Water Soluble Fertilizers Market is likely to witness an impressive CAGR of 7.1% during the forecast period. Growing adoption of specialty fertilizers to meet the intensifying food demand, the many advantages of water-soluble fertilizers over conventional fertilizers such as higher crop harvest, and nutrient accessibility in the soil are some of the major factors driving the market growth during the forecast period.
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Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Segments' Analysis
Stratview Research has segmented the “Water Soluble Fertilizers Market” by Form Type (Dry [Granules and Powder] and Liquid), by Product Type (Nitrogenous [Urea, Ammonium Nitrate, and Calcium Nitrate], Micronutrients [Iron, Manganese, and Zinc], Phosphatic [Mono-ammonium Phosphate, Phosphoric Acid, and Mono Potassium Phosphate], and Potassium, [Potassium Chloride, Potassium Sulfate, and Potassium Nitrate]), by Mode of Application Type (Foliar and Fertigation), by Crop Type (Cereals, Vegetables, Fruits, Plantation, Turf & Ornamentals, and Greenhouse Crops), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Based on the form type, the market is segmented as dry and liquid. Dry water soluble fertilizers are estimated to witness a strong growth rate in the market, during the forecast period, owing to their extensive usage in agriculture, horticulture, and gardening activities. These fertilizers are further categorized as granules and powder. The attributes of dry water soluble fertilizers, such as easy storage and prolonged shelf life are likely to fuel the product demand during the forecast period.
Based on the product type, the market is segmented into nitrogenous, micronutrients, phosphatic, and potassium. The nitrogenous segment is expected to be the leading segment of the market over the forecast period. This growth of the segment is owing to its prevalent usage in oilseeds and grains plantation. On the other hand, the micronutrients segment is expected to grow at a faster pace than the other product types on account of the depletion of micronutrients from the soil over the past few years due to the growing usage of NPK fertilizers comprising lesser amounts of micronutrient impurities and high-yield crop demand. The growing demand for micronutrients will drive the segment growth over the forecast period.
Based on the mode of application type, the market is segmented as foliar and fertigation. The foliar segment is expected to be the leading mode of application during the forecast period, driven by the reason that it is an eco-friendly process that diminishes the discharge of nitrates and other elements into the environment, lessens water pollution, and upholds soil productivity.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market for water soluble fertilizers during the forecast period. The region’s growth is owing to the growing demand from highly populated economies such as China, India, Pakistan, Vietnam, and Bangladesh. Additionally, investment inflows and subsidies from governments to the fertilizer industry are further expected to fuel product adoption in the regional market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Leading Players Covered in the Water Soluble Fertilizers Market Report:
The following are the key players in the Water Soluble Fertilizers Market -
- Agafert Srl
- Coromandel International Limited
- Everris
- Haifa Group
- Israel Chemical Ltd. (ICL)
- K+S AG
- Nutrien
- Sinochem Corporation
- The Mosaic Company
- Yara International ASA.
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