Global Water Soluble Fertilizers Market Report and Forecast 2024-2032

Global Water Soluble Fertilizers Market Outlook

The global water soluble fertilizers market stood at a value of around USD 17.38 billion in 2023. The market is further expected to grow at a CAGR of 4.8% in the forecast period of 2024-2032 to attain a value of nearly USD 26.10 billion by 2032.

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Increasing Utilisation of Fertigation to Improve Fertility and Control Nutritional Deficiency to Bolster the Water Soluble Fertilizers Industry Growth

Based on mode of application, the fertigation segment is likely to account for a significant share in the market over the forecast period. This can be attributed to the rising popularity of fertigation owing to the increasing acceptance of micro irrigation and precise irrigation techniques involved in this segment. The water soluble fertilizer is an essential component in the fertigation, especially during the initial development stages of a plant, as it helps provide all the necessary nutrients required for optimal plant growth. This is aiding the growth of the segment.

Rising Demand for Nitrogenous Fertilizers to Augment the Market Growth

On the basis of product, nitrogenous fertilizers accounted for a significant share in the market and are likely to witness a healthy growth over the forecast period. Nitrogenous fertilizers are readily soluble in water and are easily available commercially. Meanwhile, the suitability of potassic fertilizers for fertigation is likely to propel its sales over the forecast period, making this segment accountable for a considerable share in the market.

Increase in Horticulture Crop Production to Bolster the Market Growth

The horticultural crops, based on crop type, are anticipated to account for a significant share in the market over the forecast period. The demand for this type of crop is rapidly growing, mainly due to the rising preference for high-value crops and nutrition rich diet. The rising demand for fruits and vegetables, owing to the rising population all over the world, is expected to provide a further impetus to the segment growth.

The Asia Pacific to Account for a Significant Share in the Water Soluble Fertilizers Market

The Asia Pacific is likely to witness a significant growth rate over the forecast period owing to the presence of densely populated economies such as India, China, Pakistan, Vietnam, and Bangladesh in the region. The increased demand for raw materials in the food industry and the growing focus on food security and sustainability in emerging economies are expected to further aid the market growth. Moreover, the favourable government initiatives to support the agriculture industry are expected to further propel the industry growth in the region.

Water Soluble Fertilizer: Market Segmentation

Water soluble fertilizer is defined as a fertilizer that can be easily dissolved in water, and, thus, is added to the soil to increase its productivity. It is a multi-compound fertilizer, which can be easily absorbed by the crops. Further, its absorption and utilisation is relatively high as compared to the conventional chemical fertilizers.

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Based on form, the market is divided into:

• Liquid
• Dry

On the basis of product, the industry is segmented into:

• Nitrogenous
• Phosphatic
• Potassic
• Others

The major types of nitrogenous fertilizers are:

• Urea
• Ammonia
• Ammonium Nitrate
• Urea-Ammonium Nitrate
• Others

The different types of phosphatic fertilizers are:

• Phosphoric Acid 
• Monopotassium Phosphate
• Monoammonium Phosphate
• Diammonium Phosphate
• Others

The major types of potassic fertilizers are:

• Potassium Chloride
• Potassium Nitrate
• Potassium Sulphate
• Others

On the basis of mode of application, the market is divided into:

• Foliar
• Fertigation

By crop type, the industry can be segmented into:

• Field Crops
• Horticultural Crops
• Plantation
• Turf and Ornamentals
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Focus on Food Security and Sustainability to Boost the Growth of the Water Soluble Fertilizers Industry

The global water soluble fertilizers industry is driven by the increasing demand for food in order to feed the growing population of the world. The water soluble fertilizers are an essential component in the agriculture industry as they prevent nutritional deficiency in crops and reduce the risk of crop loss. The use of these fertilizers provides the sufficient amount of nutrients required for the healthy growth of crops, thus, enhancing the quality of the yield produced, which is further required for human consumption. Over the forecast period, the market is expected to be further propelled by the increasing adoption of modern irrigation techniques by farmers, which require a significant amount of water soluble fertilizers.

Key Industry Players in the Global Water Soluble Fertilizers Market

The report gives a detailed analysis of the following key players in the global water soluble fertilizers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ICL Fertilizers
• Nutrien Ltd. 
• Haifa Group 
• Uralchem, JSC 
• Yara International ASA 
• Ako Kasei Co., Ltd. 
• COMPO EXPERT GmbH 
• K+S Aktiengesellschaft
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report