19-Apr-2021 | Zion Market Research
The Global Water-Soluble Fertilizers Market accounted for USD 14,262.8 Million in 2020 and is expected to reach USD 21,092.1 Million by 2028, growing at a CAGR of 5.2 % from 2021 to 2028.
Water-soluble fertilizers are mainly used for controlling the quantity of nutrients that should be provided to the plants. These fertilizers can be mixed with water and hence are easily applied through fertigation or foliar application. Water-soluble fertilizers are multi-compound fertilizers that can be dissolved in water. They are easily absorbed by plants, and hence its absorption and utilization is relatively high as compared with conventional chemical fertilizers. These fertilizers are best suited for modern irrigation systems. Moreover, they also help to prevent ground water contamination. Owing to these advantages water-soluble fertilizers are preferred over conventional chemical fertilizers.
The global water-soluble fertilizers market is segmented on the basis of type as nitrogenous, phosphatic, potassic, micronutrients, bio fertilizers, and bio stimulants. Of which, nitrogenous fertilizer segment is dominating market as it plays a vital role in crop growth. Based on the application, the global is segmented as fertigation and foliar application. On the basis of crop type, the global water-soluble fertilizers market is further segmented as field, horticultural, and turf & ornamentals.
Water-soluble fertilizers are well-suited in advanced irrigation technology. They not only save water and fertilizer, but they also save labor cost. These fertilizers have less impurities and have low conductivity as compared to chemical fertilizers. Moreover, the concentration of fertilizer is also easy to adjust. It is also considered as a safe chemical option for young seedlings. All these advantages of water-soluble fertilizers are impacting the growth of the global market in a positive way. Some of the major factors driving the growth of the global market are its application in green house, economic incentives with fertigation in order to reduce ground water consumption, government subsidies for adoption of this technology, and increasing demand for micro-irrigation systems. However, factors such as high cost as compared to other soil fertilizers, its negative seasonal impact, and requirement of high initial setup cost may restrain the market growth in the near future.
Geographically, the global water soluble fertilizers market is segmented as North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is anticipated to be the dominating player in the global water-soluble fertilizers market mainly owing to rising adoption rate of micro and merchandize irrigation systems in this region. In addition, the demand for water soluble fertilizers is also expected to increase in this region.
Some of the major players dominating the global market are Israel Chemical, Lowa Fertilizer, Yara International, Sinochem Fertilizer Co. Ltd., Qatar Fertilizer, and Hebei Monband Water Soluble Fertilizer Co. Ltd. Other key players influencing the global market are Everris International B.V., Agrium Inc., and Sinochem Fertilizer Co. Ltd.
Browse the full “Water-Soluble Fertilizers Market By Type (Nitrogenous, Phosphatic, Potassic, And Micronutrients), By Application (Fertigation And Foliar Application And Others), By Crop Type (Field, Horticultural, Turf And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/water-soluble-fertilizers-market
The global water-soluble fertilizers market is segmented as follows:
Water-Soluble Fertilizers Market: Regional Segment Analysis
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