What Has Been the Progress and Growth of the Water-Soluble Fertilizers Market in Recent Years?
The water-soluble fertilizers market has seen considerable growth due to a variety of factors.
•The market size for water-soluble fertilizers has significantly expanded in the past few years. The market is projected to progress from $15.16 billion in 2024 to $15.94 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%.
The notable growth during the historic period can be ascribed to factors such as growing knowledge of crop nutrient needs, the increase in greenhouse and hydroponic farming, government schemes and subsidies, a shift to sustainable farming practices, and better availability of agricultural information.
What Can Be Expected from the Water-Soluble Fertilizers Market in the Coming Years?
The water-soluble fertilizers market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of water-soluble fertilizers is projected to experience substantial growth in the upcoming years. The estimated growth rate is a compound annual growth rate (CAGR) of 7.0%,
and this will lead to a market value of "$20.89 billion in 2029. This anticipated growth during the forecast period can be accredited to the increasing global population and food requirements, an emphasis on nutrient efficiency and crop yield, the expansion of controlled environment agriculture, and the market's focus on sustainable farming practices. Notable trends for this forecast period include the adoption of precision agriculture, progress in formulation technology, increased demand for premium crops, an escalated focus on environmental sustainability, and a move towards hydroponic and fertigation systems.
What Are The Leading Drivers Of Growth In The Water-Soluble Fertilizers Market?
The growing demand for water-soluble fertilizers, which dissolve readily in water and are directly applied to crops, is anticipated to drive the expansion of the water-soluble fertilizers market in the near future. The appeal of these fertilizers stems from the ease with which nutrients can be managed through their use, and the fact that they are minimally affected by leaching and erosion. Citing the House of Lords Library, which serves as the library and information resource for the upper chamber of the UK Parliament, potash fertilizer prices soared by 165% in June 2022, whilst phosphate fertilizer prices rose by 120% to 128%, varying with the type. Consequently, the escalating need for water-soluble fertilizers is fueling the market growth.
How Are The Segments Defined Within The Global Water-Soluble Fertilizers Market?
The water-soluble fertilizers market covered in this report is segmented –
1) By Type: Nitrogenous, Phosphatic, Potassic, Other Types
2) By Form: Dry, Liquid
3) By Crop Type: Field Crops, Horticultural Crops, Plantation, Turf And Ornamentals, Other Crop Types
4) By Application: Foliar, Fertigation
Subsegments:
1) By Nitrogenous Fertilizers: Urea, Ammonium Nitrate, Calcium Nitrate, Ammonium Sulfate
2) By Phosphatic Fertilizers: Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Single Super Phosphate (SSP), Triple Super Phosphate (TSP)
3) By Potassic Fertilizers: Potassium Nitrate, Potassium Sulfate, Muriate Of Potash (KCl)
4) By Other Types: Micronutrient Fertilizers, Organic Water-Soluble Fertilizers, Blended Water-Soluble Fertilizers
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How Are New Trends Expected To Influence The Growth Of The Water-Soluble Fertilizers Market?
The trend of product innovation is rising in prominence within the water-soluble fertilizers market. Major players in this market are devising innovative products as a way to solidify their status. To illustrate, SQM, a chemical firm based in Chile known for supplying iodine, lithium, industrial chemicals, and plant nutrition, unveiled a new water-soluble fertilizer called Ultrasoline K Plus in July 2022. This fertilizer consists of iodine, 13.7% nitrogen and 46.3% potassium and has garnered support from more than 100 field tests with cultivators. The use of Ultrasoline K Plus allows crops to prevent iodine deficiency without the risk of over-application. Furthermore, Ultrasoline K Plus is generated through a sustainable method producing 40% less greenhouse emissions, thereby meeting international market requirements.
Who Are the Key Players in the Water-Soluble Fertilizers Market?
Major companies operating in the water-soluble fertilizers market include:
• Nutrien Ltd.
• Israel Chemicals Ltd
• Coromandel International Limited.
• The Mosaic Company
• K+S AKTiengesellschaft
• Agrium Inc.
• Iowa Fertilizer Company
• Qatar Fertiliser Company
• Israel Chemical Limited
• Sociedad Quimica YMinera SA (SQM)
• Yara International ASA
• BMS Micro-Nutrients NV
• COMPO EXPERT INDIA PRIVATE LIMITED
• Haifa Group
• Indian Farmers Fertiliser Cooperative Limited
• EuroChem Group AG
• UralChem Holding PLC
• Sinochem Fertilizer Co. Ltd.
• Hebei Monband Water Soluble Fertilizer Co. Ltd.
• Potash Corporation of Saskatchewan Inc
• Shandong Kingenta Ecological Engineering Co. Ltd.
• National Liquid Fertilizer
• Arab Potash Company
• Omex Agriculture Inc.
• Everris International B.V.
• Agafert Srl
• Nagarjuna Fertilizers & Chemicals Ltd.
• Grupa Azoty S.A.
• Gujarat Agro Industries Corporation Ltd.
• Zuari Agro Chemicals Limited
What Is The Most Dominant Region In The Water-Soluble Fertilizers Market?
Asia-Pacific was the largest region in the water-soluble fertilizers market in 2024. The regions covered in the water-soluble fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
