According to a new report published by UnivDatos Markets Insights, the water-soluble fertilizers market was valued at more than USD 13 billion in 2020 and is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into Type (Nitrogenous, Phosphatic, Potassic, and Others); Crop Type (Field Crop, Horticulture, Turf & Ornamentals, and Others); Application (Foliar and Fertigation); and Region/Country.
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The water-soluble fertilizers market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the water-soluble fertilizers market. The water-soluble fertilizers market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the water-soluble fertilizers market at the global and regional levels.
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The water-soluble fertilizers market is expected to witness a CAGR of around 6% during the forecast period. Fertilizers that are 100 percent soluble in water are known as water-soluble fertilizers. When applied using foliar spray and fertigation methods, these fertilizers ensure that the nutrients in the fertilizer are readily absorbed and utilized by the plant system without being wasted through evaporation, leaching, or runoff. Moreover, water-soluble fertilizers make it simple to mix and ensure that plants have access to the necessary nutrients. It is rapidly soluble in water and also aids in foliar and fertigation by releasing vital nutrients into the root zone and leaves. The growth of the water-soluble fertilizers market is being boosted by these benefits.
As the population is increasing worldwide, with this the demand for agricultural products is also increasing. The increase in population will create a high demand for field crops such as rice, cotton, wheat, oilseeds, and other grains in developing countries is expected to augment industry demand over the forecast period.
Some of the major players operating in the market include Agrium Inc., Yara International ASA, Israel Chemical Ltd., Haifa Chemicals, The Mosaic Company, Coromandel International, K+S AG, Sociedad Química Y Minera SA, TATA Chemicals, Qatar Fertilizer Company
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The fertilizer manufacturing facilities were shut down for a longer period of time as a result of strict lockdown regulations. The operational process and activities have been halted as a result. The market's demand was lowered as a result of the hampered production and sales units.
The global water-soluble fertilizers market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into nitrogenous, phosphatic, potassic, and others. The nitrogenous category is to witness higher CAGR during the forecast period due to its contribution to higher crop yield. This is mainly due to the nitrogen required for the synthesis of amino acids, which are the building blocks for the synthesis of proteins, in order for plants to grow and develop. Moreover, the high crop loss by nutrient deficiency and the high efficiency of nitrogenous water-soluble fertilizers reduces this crop loss which will drive the growth of the market.
· Based on application, the water-soluble fertilizers market has been classified into foliar and fertigation. The foliar category is to witness a considerable CAGR during the forecast period. This is mainly due to the growing population and rising demand for food globally. Moreover, foliar feeding is used for achieving the best crop results with ecological protection.
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Water-Soluble Fertilizers Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
APAC is anticipated to grow at the fastest CAGR during the forecast period. This is mainly due to the large population in the region and the high demand for nutritional food. Moreover, rising agricultural yields is one of the major factors in the countries like China, India, and Australia. Furthermore, rising investment and government subsidies in the agriculture sector will boost the demand for fertilizers in the region. For instance, the Indian Government increased subsidy allocation for fertilizers from USD 9.83 million to more than USD 11 million in 2019. These factors are also contributing to the growth of the water-soluble fertilizers market.
The major players targeting the market include
· Nutrien Ltd.
· Haifa Chemicals
· Coromandel International Limited
· K+S Aktiengesellschaft
· SQM S.A.
· TATA Chemicals Ltd.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the water-soluble fertilizers market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the water-soluble fertilizers market?
• Which factors are influencing the water-soluble fertilizers market over the forecast period?
• What are the global challenges, threats, and risks in the water-soluble fertilizers market?
• Which factors are propelling and restraining the water-soluble fertilizers market?
• What are the demanding global regions of the water-soluble fertilizers market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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