Water-soluble Fertilizers Market Analysis By Type (Nitrogenous, Phosphatic, Potassic, Micronutrients, Others (calcium, magnesium, etc.)), By Nutrient (Single nutrient, Multi-nutrient), By Application Method (Foliar, Fertigation, Soil, Others (seed treatment, root feeding, etc.)) & Forecast By 2033
- PUBLISHED ON
- 2024-05-04
- NO OF PAGES
- 277
- CATEGORY
- Chemicals & Materials
Water-soluble Fertilizers Market is valued at USD 11,200 million in 2022 and was projected to reach USD 23,000 million by 2033, growing at a compound annual growth rate (CAGR) of 4.4% over the forecast period of 2023-2033.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 11,200 Million |
Market Forecast in 2033 | USD 23,000 Million |
CAGR % 2023-2033 | 4.4% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Nutrient, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Haifa Group; Yara International ASA; SQM S.A.; Nutrien Ltd.; ICL Group; EuroChem Group AG; The Mosaic Company; Israel Chemicals Ltd.; K+S AG; Compo Expert GmbH |
Water-soluble fertilizers are a type of fertilizers that can dissolve in water and provide nutrients to plants quickly and efficiently. These fertilizers are widely used in modern agriculture and horticulture practices as they offer several benefits over traditional fertilizers, including better nutrient uptake, faster plant growth, and reduced environmental impact.
One of the major trends in the water-soluble fertilizers market is the growing demand for high-efficiency fertilizers that can maximize crop yields and minimize environmental pollution. With the increasing global population and the rising demand for food, the need for sustainable and efficient agricultural practices has become more important than ever. Water-soluble fertilizers are a crucial component of such practices as they can help farmers increase crop productivity while reducing the amount of fertilizer runoff and soil pollution.
Another trend in the water-soluble fertilizers market is the increasing adoption of precision agriculture technologies that enable farmers to apply fertilizers more accurately and efficiently. Technologies such as soil sensors, drones, and GPS mapping can help farmers monitor soil conditions and plant nutrient requirements in real-time, and adjust fertilizer application rates accordingly. This can not only improve crop yields but also reduce fertilizer waste and environmental pollution.
Furthermore, the rising demand for organic food and sustainable agriculture practices is also driving the growth of the water-soluble fertilizers market. As more consumers become aware of the negative impacts of chemical fertilizers on the environment and human health, the demand for organic and sustainable farming practices is increasing. Water-soluble fertilizers can play a key role in such practices by providing organic and natural sources of nutrients to plants without harming the environment or human health.
Type Insights
Nitrogenous segment accounted for a major share of the global Water-soluble Fertilizers market in 2022 and is anticipated to grow at a significant CAGR by 2033.
Nutrient Insights
Single nutrient segment accounted for a major share of the global Water-soluble Fertilizers market in 2022 and is anticipated to grow at a significant CAGR by 2033.
Application Insights
Foliar segment accounted for a major share of the global Water-soluble Fertilizers market in 2022 and is anticipated to grow at a significant CAGR by 2033.
Regional Insights
The Global Water-soluble Fertilizers Market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. North America is expected to hold a significant share of the water-soluble fertilizers market owing to the increasing adoption of advanced farming techniques and the presence of major players in the region. The United States is the largest consumer of water-soluble fertilizers in the region.
Europe is expected to witness significant growth in the water-soluble fertilizers market due to the increasing demand for high-value crops, such as fruits and vegetables, and the presence of advanced agricultural technologies in the region.
The Middle East & Africa region is expected to witness moderate growth in the water-soluble fertilizers market due to the increasing adoption of precision farming practices and government initiatives to promote sustainable agriculture practices.
Competitive Analysis
Some of the prominent companies operating in the market are Haifa Group; Yara International ASA; SQM S.A.; Nutrien Ltd.; ICL Group; EuroChem Group AG; The Mosaic Company; Israel Chemicals Ltd.; K+S AG; Compo Expert GmbH
The launch of Multicoteâ„¢ Agri reflects Haifa Group's commitment to innovation and sustainability in the agriculture industry. The company aims to provide farmers and growers with advanced solutions that improve the efficiency and effectiveness of fertilizer use, while reducing environmental impact and optimizing resource utilization.
Water-soluble Fertilizers Market - Segmental Analysis
By Type:
• Nitrogenous
• Phosphatic
• Potassic
• Micronutrients
• Others (calcium, magnesium, etc.)
By Nutrient:
• Single nutrient
• Multi-nutrient
By Application Method:
• Foliar
• Fertigation
• Soil
• Others (seed treatment, root feeding, etc.)
Quality Assurance Process
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Water-soluble Fertilizers Market is valued at USD 11,200 million in 2022 and was projected to reach USD 23,000 million by 2033, growing at a compound annual growth rate (CAGR) of 4.4% over the forecast period of 2023-2033.
Who are the key competitors of market Players?
Some of the major players operating within the market are Haifa Group; Yara International ASA; SQM S.A.; Nutrien Ltd.; ICL Group; EuroChem Group AG; The Mosaic Company; Israel Chemicals Ltd.; K+S AG; Compo Expert GmbH.
What are the top performing segments, and countries / regions of each of the markets?
The Global Water-soluble Fertilizers Market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa.
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