USD 16.96 billion
Report ID:
SQMIG30H2051 |
Region:
Global |
Published Date: November, 2024
Pages:
198
|Tables:
120
|Figures:
77
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).
This market growth is driven by factors such as population growth, rising demand for high-value crops, and increasing adoption of precision farming techniques. In addition, the growing demand for organic and sustainable farming practices is driving the demand for bio-based and eco-friendly water-soluble fertilizers in the region. Based on our in-depth analysis, we found that North America is also a significant market for water-soluble fertilizers, driven by the increasing use of hydroponic and greenhouse farming practices. The report also highlights the increasing demand for organic and bio-based water-soluble fertilizers in both regions. The adoption of advanced technologies such as fertigation and the shift towards organic farming practices are also driving the growth of the market in the region.
US Water-Soluble Fertilizer Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 16.96 billion
Largest Segment
Fruits
Fastest Growth
Fruits
Growth Rate
6% CAGR
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Global Water Soluble Fertilizers Market is segmented by Type, by Mode of Application, by Crop Type, by Form, and by Region. Based on component, the market is segmented into Nitrogenous, Phosphatic, Potassic, Micronutrient. Based on Mode of Application, the market is segmented into Fertigation, Foliar. Based on Crop Type, the market is segmented into Field Crop, Horticulture Crops, Turf & ornaments, Others. Based on Form, the market is segmented into Dry, Liquid. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Type
By type, the market can be segmented into fruits, and ornamental plants. The fruit crops segment is currently the dominating segment of the water-soluble fertilizer market. This is due to the high demand for fruits in the global food market and the need for efficient and effective fertilizers to optimize yields and quality. Fruits such as citrus, berries, and tropical fruits require precise nutrient management, which can be achieved through the use of water-soluble fertilizers. The market for water-soluble fertilizers in fruit crops is dominated by regions such as North America, Europe, and Asia-Pacific, where the demand for high-value fruits is high.
Analysis by Application
By application, the market can be segmented into foliar sprays, and fertigation systems. The ornamental plants segment is expected to be the fastest-growing segment of the water-soluble fertilizer market in the coming years. This is due to the increasing demand for ornamental plants in the global landscaping and horticulture industry, which requires precise nutrient management for optimal growth and aesthetics. Water-soluble fertilizers are an ideal choice for ornamental plants as they provide quick and efficient nutrient uptake and can be easily applied through irrigation or foliar sprays.
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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.
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Drivers
Growing demand for high-value crops
Restraints
High cost of Water-Soluble Fertilizers
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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.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global water-soluble fertilizers market analysis, the market is driven by factors such as population growth, increasing demand for high-quality food, and the need for sustainable agriculture. Moreover, the demand for organic and eco-friendly water-soluble fertilizers is on the rise, providing a growth opportunity for manufacturers.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 16.96 billion |
Market size value in 2031 | USD 28.65 billion |
Growth Rate | 6% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Water-Soluble Fertilizer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Water-Soluble Fertilizer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Water-Soluble Fertilizer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Water-Soluble Fertilizer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30H2051
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