Water Soluble Fertilizer Market Worth USD 12.5 Billion By
Selbyville, Delaware, July 18, 2022 (GLOBE NEWSWIRE) —
water soluble fertilizer market value is expected to exceed USD 12.5 billion by 2030, according to a new research report by Global Market Insights Inc. Safety, enhanced durability, and superior service with less maintenance are key factors for the growth of the industry.
Global production of horticultural crops is growing at a rapid rate despite rising crop prices and the large labor costs involved. This sector is attracting worldwide attention due to the presence of higher nutritional content. This will further provide immense opportunities for fertilizer manufacturers over the next few years.
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Plantation crops are expected to have the highest growth potential and the ability to conquer the market. This can be attributed to the growing demand for crops such as coffee, cotton, cocoa, tea, sisal, opium, sugar cane, oil palms, oilseeds, etc. Rising disposable income and population across the globe will drive the water soluble fertilizer market revenue.
Several economies, such as the United States and the EU, are adopting environmental policies to minimize nitrogen losses. For example, the EU has adopted an agreement to limit the use of cadmium in phosphorus fertilizers which will be in force from 2022. All these environmental policies can limit the use of chemical fertilizers.
Browse key industry information spread over 450 pages with 611 market data tables and 26 report figures and graphs, “Water Soluble Fertilizer Market Analysis By Form (Dry [Granules, Powder]liquid), product (nitrogenous [Urea, Ammonium Nitrate, Calcium Nitrate, Others]Micronutrients [Iron, Manganese, Zinc, Others]Phosphatic [Mono-ammonium phosphate, Phosphoric Acid, Mono Potassium Phosphate, Others]potassium, [Potassium chloride, Potassium sulfate, Potassium nitrate]), application mode (foliar, fertigation), crop (cereals, vegetables, fruits, planting, turf and ornamentals, greenhouse crops), industry analysis report, regional outlook, application growth potential, price trends, competitive market share and forecast, 2022 – 2030“, in detail with the table of contents:
Water Soluble Fertilizers market revenue in the Middle East and Africa will witness a CAGR of 7.5% through 2030 due to their wide use in grain and fruit cultivation. Saudi Arabia and South Africa are the hardest hit due to COVID-19 and are expected to experience a sharp decline in product demand due to limited regional manufacturing and heavy reliance on imports. Disruptions in supply will impact the demand for products in the region and therefore the stabilization of business activities will increase the demand for regional products.
The vegetable segment water soluble fertilizer market will hold 10% revenue share by 2030. The intensive use of these fertilizers to meet the growing demand for vegetables through agricultural and horticultural activities will increase their use in Asia-Pacific, Latin America, the Middle East and Africa. This heavy use is because water-soluble fertilizers offer a wide range of nutritious qualities that can be applied evenly to every plant, even daily, as they reduce the buildup of salts in the soil.
The North American market accounted for 15% market share by 2030 due to shrinking consumption from the United States. This contraction signifies a combination of low international prices for most crops and unfavorable weather conditions in key agricultural and fertilizer-consuming regions (e.g., central United States) . However, demand should recover in the short term, assuming a return to normal weather conditions and the expansion of cereal acreage in the region.
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Some of the major players operating in the water soluble fertilizer market are Yara International ASA, Israel Chemical Ltd (ICL), Nutrien Ltd, Haifa Group, K+S Aktiengesellschaft, The Mosaic Company, VAKI – CHIM Ltd. and Coromandel International Limited.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.