Global Water Soluble Fertilizers Market Overview
Water Soluble Fertilizers are more conventionally used than chemical fertilizers in agriculture on account of these fertilizers possessing properties of high water solubility allowing easy absorption of fertilizers by the crops and lower fertilizer seepage in local and ground water bodies. Thus, water soluble fertilizers are more extensively absorbed and utilized by crops. Water soluble fertilizers can be sprayed during irrigation process thus, being an efficient form of fertilizer used in modern farming methods. The factor of low seepage results in prevention of ground water contamination on account of which farmers prefer the use of water soluble fertilizers. Water soluble fertilizers aid in water conservation as well as lower fertilizers application. Additionally, government regulation regarding use of more eco-friendly fertilizers and increasing demand for fertigation to reduce water consumption and increase economic incentives is anticipated to propel the overall water soluble fertilizers market around the globe over the forecast period. The use of water soluble fertilizers can be put in aromatic crops, medicinal, and plantation fields. Moreover, increase in crop diseases and reduced farm land crop yielding capacity has resulted in increased demand for efficient fertilizers across the globe. These water soluble fertilizers helps in quality as well as quantity enhancement of agricultural crops with minimal environmental pollution.
Market Size & Forecast
Water Soluble Fertilizers Market is anticipated to record a CAGR of 7.4% over the forecast period. Many multi-national companies are concentrating towards new product advances in water soluble fertilizers. Moreover, the many advantageous properties of water soluble fertilizers are exploited in the field of horticulture and farming. New uses for water soluble fertilizers are discovered on regular basis which is expected to drive the water soluble fertilizers market rapidly.
Currently the global water soluble fertilizers market is observing vibrant growth owing to increasing demand of eco-friendly fertilizers in the market. Advances in agricultural industry in the past few years and growing technological explorations are projected to drive water soluble fertilizers market besides the wide range of functions of water soluble fertilizers in an immense range of farming processes such as micro-irrigation, fertigation, horticulture and more during the forecast period. Moreover, various ongoing research and developmental activities in the field of bio fertilizers is estimated to expand the market for water soluble fertilizers around the globe.
On the basis of regional platform, global Water Soluble Fertilizers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a non-contaminating fertilizing agent in the agricultural industry, North America is panned to observe substantial water soluble fertilizers market growth due to rising water soluble fertilizers usage. North America is expected to be followed by Europe in terms of consumption on account of expanding water soluble fertilizers requirements due to changing farming practices as well as higher investments in R&D activities.
Asia Pacific is expected to drive demand and positively impact water soluble fertilizers market growth over the forecast period on account of increasing water soluble fertilizers adopting for modern farming processes. On the back of multiplying water soluble fertilizers uses in growing agricultural industries such as for fertigation, foliar application, crop yield capacity enhancement, Asia Pacific is budding as a regional Water Soluble Fertilizers and its derivatives consumption market.
Our-in depth analysis of the global Water Soluble Fertilizers market includes the following segments:
By Component Type
Global Water Soluble Fertilizers Market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The rising demand for water soluble fertilizers on account of lower water pollution due to high water solubility and rising environmental awareness across the globe is anticipated to increase the market for water soluble fertilizers over the forecast period. Water soluble fertilizers allow lower fertilizer usage leading to cost efficiency and lower water consumption leading to more efficient farming. The application of water soluble fertilizers in a wide variety of crops such as ornamental crops, horticultural crops, plantation crops, field crops and hydroponics attract different variety of crop farmers across regions that are expected to expand the market around the world. Moreover, increasing need for food security on account of rising consumer awareness is anticipated to increase the market for bio fertilizers during the forecast period. Furthermore, rising global population with growing industrialization leaves with limited arable land for farming and increasing fertilizer application in order to increase crop production capacity as well as yield quality is predicted to expand the usage of water soluble fertilizers by farmers.
However, presence of other substitutes such as synthetic and organic fertilizers in the market with comparative lower costs is expected to behave as a market restraint in the growth of water soluble fertilizers market.
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