The global water-soluble fertilizers market size is estimated to be valued at USD 18.3 billion in 2023 and is projected to reach USD 25.1 billion in 2028, growing at a CAGR of 6.5%. Water-soluble fertilizers are types of fertilizers that can dissolve completely in water, forming a uniform solution that can be easily applied to plants. These fertilizers are formulated to be soluble in water, allowing for efficient and quick absorption by plant roots. They typically come in the form of powders, granules, or crystals that can be easily mixed with water to create a liquid fertilizer solution.
The main advantage of water-soluble fertilizers is their rapid nutrient availability to plants. Since they are in a dissolved form, the nutrients are immediately accessible to the plant roots upon application. This makes them particularly useful in situations where fast nutrient uptake is necessary, such as during periods of rapid plant growth or when addressing nutrient deficiencies.
Water-soluble Fertilizers Market Growth Drivers:
- Efficient Nutrient Delivery: Water-soluble fertilizers provide a highly efficient means of delivering essential nutrients to plants. The nutrients are dissolved in water, allowing for quick and easy absorption by plant roots. This efficient nutrient delivery results in improved crop yields and overall plant health.
- Precision Agriculture Practices: The trend towards precision agriculture, which involves using technology to optimize crop yields, has boosted the demand for water-soluble fertilizers. These fertilizers can be accurately applied through irrigation systems, enabling precise control over nutrient concentrations and distribution.
- Increased Hydroponic Farming: With the growing popularity of hydroponic and soilless farming systems, water-soluble fertilizers have become a preferred choice. These fertilizers seamlessly integrate with hydroponic setups, providing a controlled and nutrient-rich solution for plants grown without soil.
- Water Conservation: Water-soluble fertilizers promote water conservation in agriculture. By dissolving in water, these fertilizers help minimize nutrient runoff and leaching, ensuring that a higher proportion of nutrients is utilized by plants. This aligns with the global emphasis on sustainable and eco-friendly farming practices.
- Ease of Application: Water-soluble fertilizers are easy to apply, whether through traditional irrigation methods or modern fertigation systems. This ease of application makes them attractive to farmers seeking convenient and time-saving solutions for nutrient management.
- Customizable Formulations: Manufacturers of water-soluble fertilizers offer a wide range of formulations, allowing farmers to customize nutrient blends based on specific crop requirements. This flexibility in formulation addresses the diverse needs of various crops and soil types.
- Rising Global Population and Food Demand: The increasing global population and the subsequent rise in food demand have put pressure on the agriculture industry to enhance productivity. Water-soluble fertilizers play a crucial role in meeting this demand by optimizing nutrient delivery and improving crop yields.
The foliar mode of application is projected to grow at a significant rate during the forecast period.
The foliar mode of the application provides high resistance to diseases & pests, improved drought 7 soil salinity tolerance, rapid utilization of applied nutrients, and high resistance to physiological disorders. Soil nutrients are not always available due to leaching; foliar fertilization applies the nutrients directly on the leaf, where the plant mostly needs them. With foliar applications, all nutritional problems can be tackled because the leaf absorbs all the essential nutrients.
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Europe holds the highest market share during the forecast period.
The agriculture industry in Europe is witnessing technological advancements and the farming community is adopting innovative technologies. A majority of the arable farmland in Europe is used for cereal production,as per the data published by the World Bank in 2021. In 2021, approximately 161.5 million hectares of land in the EU were under agricultural cultivation (Source: Eurostat). Agriculture is the main occupation in France and Italy. The land in these countries has mountainous and hilly regions, terrains, and coastal areas. Most of this land is utilized for agriculture. This region witnesses the production of diverse crops and is divided between small-sized farms regulated. The western region witnesses a high adoption of highly intensified farming systems. The extensive research & development activities in the region have helped in the introduction of customized and crop-specific products.
Key players in this market include Nutrien (Canada), Israel Chemical Company (Israel), Sociedad Quimicay Minera De Chile (SQM) (Chile), K+S Aktiengesellschaft (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), Compo GmbH (Germany), Coromandel International Ltd (India), The Mosaic Company (US), Hebei Monband Water Soluble fertilizers Co., Ltd (China), Agafert (India), EuroChem (Switzerland), Azoty Group (Poland), Vakichim (Bulgaria), Gujarat State Fertilizers & Chemicals Ltd (India), IFFCO (India), SPIC (India), Aries Agro Ltd (India), Mangalore Chemicals & Fertlizers Ltd (India), Incitec (Australia).
