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Market Leader - Water-Soluble Fertilizers Market
A water-soluble fertilizer is a compound that is easily dissolved in water and provides nutrients to plants. The plant absorbs this rhizosphere or foliar applied fertilizer nutrients completely without leaving behind any chemical residue that may cause pollution and also reduces the wastage of nutrients applied. All types of water-soluble fertilizers contain macronutrients such as, nitrogenous, phosphatic, and potassic. Apart from macronutrients, water-soluble fertilizers are also available with the combination of micronutrients such as magnesium, calcium, sulfur, copper, and molybdenum. Water-soluble fertilizers allow the farmers to choose, with a great amount of precision, the amount of each chemical that they wish to add to their crops.
The high growth potential in emerging markets and farmerís intention to grow more commercialized high value crops provide new growth opportunities for market players. The growth of this market is driven by growing customer attention towards superior quality fertilizers, which should be balanced and nutritive.
The water-soluble fertilizers market has grown exponentially in the last few years and the growth is expected to continue for the projected period. Factors such as innovations and technology have driven agricultural farming practices. The advent of micro irrigation and mechanized irrigation systems are driving the market for water-soluble fertilizers.
The water-soluble fertilizers market is highly fragmented and competitive with leading players being involved in the research & development of new water-soluble fertilizers products. Mergers, acquisitions, partnerships, agreements, and collaborations & joint ventures where major developmental initiatives were taken up by companies in the water-soluble fertilizers market to expand their business across the globe and to make their products easily available to farmers/growers. Effective marketing strategies to promote the use of water-soluble fertilizers by the farmers/growers are a major challenge for industry players in this market.
The water-soluble fertilizers market has many players, (small, medium, and large); however, the industry is dominated by a few. Agrium Inc. (Canada), Israel Chemical Ltd. (Israel), The Mosaic Company (U.S.), Coromandel International Ltd. (India), Haifa Chemicals Ltd. (Israel), and Yara International ASA (Norway) collectively accounted for a share of more than 70% of the total water-soluble fertilizers market. Agreements, partnerships, and joint ventures & collaborations were found to be the most preferred growth strategies in the water-soluble fertilizers market. These strategies enable the companies to increase their product portfolio and expand their geographical presence.
Water-soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, Potassic, and Micronutrients), by Application (Fertigation and Foliar Application), by Crop Type (Field, Horticultural, and Turf & Ornamentals) & by Region - Global Trends and Forecast to 2020
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