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Water-Soluble Fertilizers Market worth 17.06 Billion USD by 2022
The report "Water-Soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, Potassic, and Micronutrients), Application (Fertigation and Foliar Application), Crop Type (Field, Horticultural, and Turf & Ornamentals) and Region - Global Forecast to 2022", The global water-soluble fertilizers market is estimated to be valued at USD 12.24 Billion in 2016 and projected to reach USD 17.06 Billion by 2022, at a CAGR of 5.69% from 2016.
Browse 111 market data Tables and 53 Figures spread through 167 Pages and in-depth TOC on "Water-Soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, Potassic, and Micronutrients), Application (Fertigation and Foliar Application), Crop Type (Field, Horticultural, and Turf & Ornamentals) and Region - Global Forecast to 2022"
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Rise in need for food security for the growing population, and increase in crop loss owing to nutrient deficiency, along with change in farming practices (from traditional to conventional), have been of importance to the growth of the global water-soluble fertilizers market. Water-soluble fertilizers are used for high-quality crop yield for the increasing population and its growing food demand. Hence, water-soluble fertilizers will be viewed as a business opportunity in the next six years. As a result, many multinational players have entered into the production of various types of water-soluble fertilizers, which can be used for horticultural crops.
Significant growth expected in the nitrogenous segment
Water-soluble fertilizers are used to control the amount of nutrients that should be made available to the plants. They can be mixed with water, and hence easily applied through fertigation or foliar application. Nitrogenous fertilizers are more convenient to use, owing to this ease in application. Nitrogenous fertilizers are the most widely used and are projected to be the fastest-growing types in the next six years.
The horticultural segment projected to be the fastest-growing market during the forecast period
The main types of crops on which water-soluble fertilizers are used are field crops, horticultural crops, turfs & ornamentals and others, which include plantation crops and hydroponics. The horticultural segment is projected to be the fastest-growing market from 2016 to 2022. Growth in demand for fruits & vegetables, owing to the increased awareness with regard to their nutritional benefits and the rise in need for enhancement of crop productivity is driving the market for water-soluble fertilizers in the horticulture segment.
Increase in need for food security, high investment in R&D, and change in farming practices key to success in the Europe region
Europe is one of the largest contributors to the global water-soluble fertilizers due to the rise in in use of water-soluble fertilizers through advanced agricultural techniques and increase in need for food security in the European countries. Russia and Spain constituted the largest country-level markets in the European region in 2015. High market penetration by the leading water-soluble fertilizer companies and growth in need for nutrients for enhancing the agricultural growth and productivity, as well as the change in climatic conditions are the main factors influencing the growth of the water-soluble fertilizers market in Europe.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. These companies include K+S AKTIENGESELLSCHAFT (Germany), Yara International ASA (Norway), Agrium Inc. (Canada), Israel Chemical Limited (Israel), and Sociedad Quimica YMinera SA (SQM) (Chile), Haifa Chemicals Limited. (Israel), COMPO GmbH & Co. KG (Germany), and Coromandel International Limited (India).
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