The global water soluble fertilizers market size is projected to reach $23.09 billion by 2027, exhibiting a CAGR of 6.28% during the forecast period. Growing need to improve accessibility to nutritious food across the globe is expected to be the key factor driving this market in the foreseeable future. Food security is one of the greatest challenges faced by the world today, underpinned by insufficient agricultural productivity and a steadily rising world population.
The World Bank estimates that the number of people in the world will reach 9.7 billion by 2050 and agriculture will play a central role in feeding this population. Producing sufficient food will require the utilization of modern agricultural technologies and inputs such as water-soluble fertilizers. These fertilizers have proven benefits in terms of raising agricultural productivity and are, therefore, expected to experience surging demand. Widespread adoption of WSFs will, thus, be one of the top water-soluble fertilizers market trends in the forthcoming decade.
The recent Fortune Business Insights™ report, titled “Water Soluble Fertilizers Market Size, Share Industry Analysis, By Type (Nitrogenous, Phosphatic, Potassic, and Others), Application (Foliar and Fertigation), Crop Type (Field Crop, Horticulture, Turf Ornamentals, and Others), and Regional Forecasts, 2020 – 2027”, states that the market value stood at $14.34 billion in 2018.
List of Top Players Covered in the Water-Soluble Fertilizers Market Research Report are;
- COMPO EXPERT
- Coromandel International
- The Mosaic Company
- Yara International
- Nutrien Ltd.
- Qatar Fertilizer Company
- Haifa Chemicals Limited
Get Detailed Market Insights with Segmentation, Table of Content, List of Tables Figures:
The report additionally contains:
- Exhaustive analysis of the factors driving and restraining the market;
- Thorough research into the market segments;
- Comprehensive evaluation of the regional and competitive dynamics influencing the market; and
- Detailed study of the upcoming opportunities in the market.
Assured Benefits of WSFs to Brighten Sales Prospects
Water-soluble fertilizers provide an optimal solution to increasing agricultural yield owing to the host of advantages offered by them. For instance, WSFs are extremely convenient to use as they are available premixed with salts and can be simply sprayed with a hose on the plants. Being water-soluble, these fertilizers are the ideal solution for feeding the necessary amounts of micro and macro nutrients to growing crops. This also makes them cost-effective and eliminates the additional cost of buying in bulk, a major hindrance with traditional fertilizers. Furthermore, the Tamil Nadu Agricultural University (TNAU) states that the fertigation process supplies water and nutrients near the active root zone which increases the absorption by plants. According to the TNAU, fertigation can increase crop yield by 25-50 percent. These advantages can, therefore, positively impact the water-soluble fertilizers industry during the forecast period.