Water-Soluble Fertilizers Market Dynamics - 2021 to 2031
The water-soluble fertilizers market size is projected to reach US$ 17.32 billion by 2031 from US$ 10.46 billion in 2023. The market is expected to register a CAGR of 6.5% in 2023–2031. The growing demand for water-soluble nutrients is likely to remain key water-soluble fertilizers market trends.
Water-Soluble Fertilizers Market Analysis
The major factor driving the water-soluble fertilizers market size is the growing adoption of water-soluble fertilizers due to their various advantages. Water-soluble fertilizers are dissolved in water and are applied directly to the plant through drip irrigation and foliar application in order to increase nutrient use efficiency. Water-soluble fertilizers exhibit a range of desirable properties. Water-soluble fertilizers have superior purity, overall handling properties, efficacy as plant nutrients, and long-term thermal stability as compared to other formulations.
Water-Soluble Fertilizers Market Overview
Water-soluble fertilizers are fertilizers that are dissolved in water and applied directly to the plant through foliar application and drip irrigation to increase nutrient use efficiency. The use of drip irrigation helps to reduce nitrous oxide emissions compared to other irrigation systems, like furrows and sprinklers. The foliar application provides liquid fertilizer directly to the leaves instead of the soil. This is a target-oriented approach, as nutrients are applied directly to plant tissues during critical growth stages. Water-soluble fertilizers are mainly based on the three essential plant macronutrients such as nitrogen, phosphorus, and potassium. Out of the total of sixteen elements needed to sustain plant life, N-P-K is always the leading ingredient of water-soluble fertilizers. N-P-K are mobile nutrients and will move downward and upward from the point at which they were taken up with foliar application.
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Water-Soluble Fertilizers Market: Strategic Insights
Market Size Value in US$ 10.07 billion in 2022 Market Size Value by US$ 16.70 billion by 2030 Growth rate CAGR of 6.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Water-Soluble Fertilizers Market: Strategic Insights
| Market Size Value in | US$ 10.07 billion in 2022 |
| Market Size Value by | US$ 16.70 billion by 2030 |
| Growth rate | CAGR of 6.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Water-Soluble Fertilizers Market Drivers and Opportunities
Rising Population and Growing Need for Food on a Global Scale
The rising population and the growing need for food on a global scale are also major factors driving the growth of the water-soluble fertilizers market. The global agricultural industry is facing the challenges of feeding a growing population with limited land. Hence, growers across the spectrum are actively looking to increase their capacity to produce healthy crops with higher yields. One of the most important tools in the tool kit of modern farmers is water-soluble fertilizers.
New Product Innovations
The new product innovations in the market are expected to offer more lucrative opportunities for market growth. Players operating in the market are highly focused on developing new and innovative products to fulfil the demand of farmers. They are investing in research and development activities to develop new and innovative products for the farmers.
Water-Soluble Fertilizers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the water-soluble fertilizers market analysis are type, form, mode of application, and crop type.
- Based on type, the water-soluble fertilizers market is segmented into nitrogenous, phosphatic, potassic, blends, and others. The nitrogenous segment held a larger market share in 2023.
- By form, the market is segmented into dry and liquid. The liquid segment held the largest share of the market in 2023.
- In terms of mode of application, the market is segmented into foliar and fertigation. The foliar segment dominated the market in 2023.
- In terms of crop type, the market is segmented into cereals and grains, fruits and vegetables, pulses and oilseeds, and others. The cereals and grains segment dominated the market in 2023.
Water-Soluble Fertilizers Market Share Analysis by Geography
The geographic scope of the water-soluble fertilizers market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific has dominated the water-soluble fertilizers market. The factors driving the demand for water-soluble fertilizers in the Asia Pacific are rising food consumption, growing demand for high-efficiency fertilizers, and various benefits associated with the use of water-soluble fertilizers. Further, Europe is also one of the major regions for the consumption of water-soluble fertilizers. The agriculture industry in the region is highly adopting innovative technologies. Growing adoption of water-soluble fertilizers due to their benefits and rising food consumption are driving the demand for water-soluble fertilizers in Europe.
Water-Soluble Fertilizers Market Report Scope
Water-Soluble Fertilizers Market News and Recent Developments
The water-soluble fertilizers market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- ICL, a leading global specialty minerals company, today announced the North American launch of a new line of advanced foliar and fertigation solutions under their Nova brand of water-soluble fertilizers. Flagship products include Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW. (Source: ICL, News and Event/Company Website/June 2023)
- Agritech firm Zuari FarmHub has partnered with Novozymes South Asia Pvt. Ltd, a world leader in biological solutions, announced the launch of its 100 percent water-soluble fertilizer ‘Poorna Advanced” with innovative LCO Promoter Technology. (Source: THG PUBLISHING PVT LTD., economy/Agri Business/April 2023)
Water-Soluble Fertilizers Market Report Coverage and Deliverables
The “Water-Soluble Fertilizers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Form, Mode of Application, Crop Type, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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