Water-Soluble Fertilizers Market Segmented: By Product Type (Bio Stimulants, Potassic, Phosphatic, Micronutrients, Bio Fertilizers, And Nitrogen); By Applications (Foliar and fertigation); By Crop Type (Field, Horticulture, Ornamental, Turf and Plantation); and Region Analysis of Market Size, Share and Trends for 2016 � 2019 and Forecasts to 2030
Water-Soluble Fertilizers Market to reach USD $22 billion by 2030 from USD $11.8 billion in 2020 at a CAGR of 5.80% in the coming years, i.e., 2021-30.
Water-soluble fertilizers are the fertilizers that can be dissolved in water and are therefore easily supplied through fertigation or foliar sprays. They are primarily used to monitor the number of nutrients supplied to the plants. In other words, they are multi-compound fertilizers that are soluble in water. They are easily absorbed by plants and thus their absorption and use in comparison with traditional chemical fertilizers is fairly high. These fertilizers are ideal for the modern irrigation system. Besides, they also help in prevention the of groundwater pollution.
The Water-Soluble Fertilizers Market to reach USD $22 billion by 2030 from USD $11.8 billion in 2020 at a CAGR of 5.80% in the coming years, i.e., 2021-30. The water-soluble fertilizers market is anticipated to grow on the back of opportunities generated by the advent of rising demand the emerging economies such as China, India, and Brazil for the food crops, vegetables, and fruits would probably have a positive impact on the demand for the product. A continuous rise in population and their strong interest in disease-free and healthy free food will promote growth in the upcoming years.
Source: Fatpos Global
In August 2016, Yara International purchased US$ 400 million in urea business for Tata Chemicals in India to expand its business in the market.
In July 2016, Agrium Inc. completed the purchase of the agro retail business by Cargill to boost its presence on the market.
The global market has been segmented based on type, mode of application, and crop type. It has been further segmented based on region into North America, Europe, Asia-Pacific, Mid East, and Africa.
The global Water-soluble fertilizers Market is segmented by product type into Biostimulants, potassic, phosphatic, micronutrients, bio-fertilizers, and nitrogen.
In 2019, nitrogen was the dominant field and that year accounted for XX% of the world’s production
Due to high application in oilseeds and grains, the segment is expected to see steady growth. The drug improves plant texture and color and increases crop productivity in general.
Potassium can be seen as a major amount of production on the market, as it helps preserve water and allows the plants to be energized for healthy growth by protein synthesis. They are highly soluble, root toxic, and enhance frost resistance to maximize their consumption.
The global Water-soluble fertilizers market is segmented by Applications into Foliar and fertigation.
Fertigation was the largest segment in the water-soluble fertilizer market in 2019 and accounted for over XX% of the global revenue.
This approach eliminates losses and ensures that fertilizers are uniformly distributed. However, given the low cost of foliar applications, demand for fertigation should show strong growth. Much demand would probably be from developing countries, where farmers still use traditional farming methods and are slowly moving toward modern methods.
Foliar includes fertilizer applied directly to the leaves. The high efficiency that will lead to improved production would fuel the market for water-soluble goods and micronutrients in particular. Increasing demand for fruit and exotic flowers is likely to drive the growth rate in the segment over the forecast period.
The global water-soluble fertilizers market is segmented by Crop Type into Field, horticulture, ornamentals, turf, and plantation
In 2019, field crops represented XX% of the total volume.
Since field crops are cultivated on a large scale to meet food demand. Increasing demand in countries like the United States, China, India, and Brazil is expected to increase the demand in the industry over the coming years for crops such as rice, cotton, wheat, oilseeds, and other grains. One of the most significant factors to fuel demand for field crops in those countries is the rise of the population.
Drip irrigation is increasingly required and implemented as it is water-saving and ideal for all countries, including undulating ground, rolling hills, rolling topography, and areas of shallow soil layers. The industry will be positively influenced by stepping up government measures to increase agricultural production coupled with various subsidies to promote the use of drip irrigation.
Meat & Dairy Consumption:
Modern farms that use effective manufacturing components like water-soluble fertilizers are a perfect source for efficient feed intake. An inevitable trend is an introduction and entrance into the meat supply chain of fertigated farmlands.
Government Schemes and Support:
The government drives the market by its various schemes like reduced retail prices, lower import tax, the introduction of a new product, funding for research, awareness drive, and maybe direct cash transfer to the farmers.
The growth of the market is restricted by factors such as organic fertilizer growth and high-water fertilizer costs that lead to higher agricultural production costs. Feedstock prices are highly volatile which can affect the market growth shortly.
Asia Pacific is anticipated to increase its output shortly due to the rise in agricultural output in the countries like India, China, Pakistan, and Bangladesh. Furthermore, market drivers are expected to take place in the region with medium to small market players combined with quick productivity expansion and government assistance. China, which accounts for more than a fourth of world rice production, leads in rice production, followed by India and Indonesia. Moreover, fruit production and crop planting are very popular in China, including tea and coffee.
Asia Pacific: China, Japan, India, and the Rest of Asia Pacific
Europe: Germany, the UK, France, and the Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and the Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Source: Fatpos Global
The COVID-19 epidemic has triggered the devastation of many businesses worldwide in the supply chain. Nevertheless, amidst the pandemic, the high demand for critical commodities would encourage healthy business growth. The outbreak of the coronavirus has a lesser effect on the fertilizers market because it was regarded to maintain the supply of fertilizers to the farmers as an essential commodity. Soluble fertilizer supply in many countries can easily build opportunities for the market to escape food shortages amid the coronavirus.
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