What is the global market size of Water-Soluble Fertilizer Market?

Water-Soluble Fertilizer Market size was valued at USD 16.31 billion in 2021 and is poised to grow from USD 16.96 billion in 2022 to USD 23.49 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

Water-Soluble Fertilizer Market Size, Share, Growth Analysis, By Type(Nitrogenous, Phosphatic), By Mode of Application(Fertigation, Foliar), By Crop Type (Field Crop, Horticulture Crops,)By Form( Dry, Liquid) By Region - Industry Forecast 2024-2031

Report ID: SQMIG30H2051 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 120 | Figures: 77

Water-Soluble Fertilizer Market Regional Insights

The Asia-Pacific (APAC) region dominated the global water-soluble fertilizer market in terms of consumption and production. The demand for water-soluble fertilizers in China and India is driven by the large population and increasing demand for food. In Japan, the demand for water-soluble fertilizers is driven by the high level of adoption of advanced farming techniques and the need to maximize yields in limited space. With increasing awareness of the benefits of foliar fertilizers and their ability to improve crop quality, the demand for foliar-based water-soluble fertilizers is expected to grow rapidly in the APAC region.

The North American market is expected to be a fastest growing region. The demand for water-soluble fertilizers in the US is driven by the high demand for high-value crops such as fruits, vegetables, and flowers. The US market is also characterized by a high level of adoption of advanced farming techniques, which require the use of water-soluble fertilizers. With increasing awareness of the benefits of micronutrients and their ability to improve plant growth, the demand for micronutrient-based water-soluble fertilizers is expected to grow rapidly.

Water-Soluble Fertilizer Market Report Snapshots

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Global Water Soluble Fertilizer Market size was valued at USD 16.96 billion in 2022 and is poised to grow from USD 17.98 billion in 2023 to USD 28.65 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The competitive landscape of the water-soluble fertilizer market is highly fragmented, with a large number of players operating in the market. Some of the prominent players in the market include Yara International, Haifa Group, Nutrien, Israel Chemicals Ltd., and SQM. These players are actively engaged in developing new products, expanding their production capacities, and entering into strategic partnerships and collaborations to gain a competitive edge in the market. However, the market also has several small and medium-sized players, who are focusing on niche segments and regions to expand their market presence. 'Coromandel International Limited', 'EuroChem Group AG', 'Haifa Group', 'Hebei Monband Water Soluble Fertilizer Co., Ltd.', 'ICL Fertilizers', 'Israel Chemicals Ltd.', 'K+S Aktiengesellschaft', 'Nutrien Ltd.', 'Nufarm Limited', 'Omex Agrifluids Ltd.', 'Qatar Fertiliser Company', 'Scotts Miracle-Gro Company', 'Sociedad Quimica y Minera de Chile S.A.', 'SQM Europe N.V.', 'Sinochem Group Co., Ltd.', 'The Mosaic Company', 'Yara International ASA', 'Zuari Agro Chemicals Ltd.', 'Haifa Chemicals Ltd.', 'CF Industries Holdings Inc.'

One driver of the water-soluble fertilizers market is the increasing demand for high-value crops and the need for higher crop yields. Water-soluble fertilizers are known for their ability to provide precise and targeted nutrition to plants, resulting in better crop yields and quality. They are also more environmentally friendly, as they reduce the risk of nutrient runoff and groundwater pollution. As a result, farmers and growers are increasingly adopting water-soluble fertilizers to meet the growing demand for high-quality, high-yield crops. This trend is expected to drive the growth of the water-soluble fertilizers market in the coming years.

One of the key market trends in the global water-soluble fertilizer market is the increasing adoption of hydroponic and greenhouse farming practices. These practices allow for efficient use of resources such as water and nutrients, while also enabling year-round crop production. Moreover, the demand for high-quality crops is rising due to growing urbanization and population growth, driving the need for precision agriculture and water-soluble fertilizers. Another trend is the shift towards organic and sustainable farming practices, which is driving the demand for bio-based and eco-friendly water-soluble fertilizers. Overall, these trends are expected to continue driving the growth of the global water-soluble fertilizer market in the coming years.

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Water-Soluble Fertilizer Market Size, Share, Growth Analysis, By Type(Nitrogenous, Phosphatic), By Mode of Application(Fertigation, Foliar), By Crop Type (Field Crop, Horticulture Crops,)By Form( Dry, Liquid) By Region - Industry Forecast 2024-2031

Water-Soluble Fertilizer Market Regional Insights

Water-Soluble Fertilizer Market Report Snapshots

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