Water-Soluble Fertilizers Market Report 2024-2033

Global water-soluble fertilizers market size is expected to reach $19.16 Bn by 2028 at a rate of 5.8%, segmented as by type, nitrogenous, phosphatic, potassic, other types

Jun 19, 2024 - 11:33

Water-Soluble Fertilizers Market Report 2024-2033

Overview and Scope

Water-soluble fertilizers are usually fertilizers that dissolve readily in water and are delivered directly to the plant by drip watering and foliar spraying to boost nutrient utilization efficiency. Water-soluble fertilizers (WSF) make nutrition management simple since nutrient levels are not impacted by leaching and erosion.

Sizing and Forecast

The water-soluble fertilizers market size has grown strongly in recent years. It will grow from $14.48 billion in 2023 to $15.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increasing awareness of crop nutrient requirements, rise in greenhouse and hydroponic cultivation, government initiatives and subsidies, shift towards sustainable agriculture, improved access to agricultural information.

The water-soluble fertilizers market size is expected to see strong growth in the next few years. It will grow to $19.16 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising global population and food demand, focus on nutrient efficiency and crop yield, expansion of controlled environment agriculture, market emphasis on sustainable agriculture. Major trends in the forecast period include precision agriculture adoption, technological advancements in formulations, rising demand for high-quality crops, growing emphasis on environmental sustainability, shift towards hydroponic and fertigation systems.

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Segmentation & Regional Insights

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

Asia-Pacific was the largest region in the water-soluble fertilizers market in 2023. The regions covered in the water-soluble fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing need for fertilizers that are water soluble is expected to propel the growth of the water-soluble fertilizers market in the coming future. Water-soluble fertilizers are fertilizers that are soluble readily in water and are applied directly to the crop. The increasing need for water-soluble fertilizers is expanding the water-soluble fertilizers market since nutrients can be easily managed by the use of water-soluble fertilizers, and leaching and erosion have little impact on them. For instance, in June 2022, according to the House of Lords Library, a UK-based Chamber of Lords' library and information resource, which is the upper chamber of the United Kingdom's Parliament, Potash fertilizer prices had climbed by 165%, while phosphate fertilizer prices had increased by 120% to 128%, depending on the diversity. Therefore, the increasing need for fertilizers that are water soluble is driving the market.

Key Industry Players

Major companies operating in the water-soluble fertilizers market report are 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

The water-soluble fertilizers market report table of contents includes: