Water-soluble fertilizers are special compound fertilizers that dissolve completely in water and can easily be added to or washed out of the soil. Water-soluble fertilizers are primarily used to control the amount of nutrients that are provided to plants. These fertilizers can be mixed with water and are therefore easy to apply by foliar application. These fertilizers are very suited to the modern irrigation systems. Additionally, they also help to prevent the groundwater contamination. They offer several advantages over traditional fertilizers, including higher crop yields and greater availability of nutrients in the soil.
Water-soluble fertilizers are generally available in both liquid and powder forms and are extensively used in plantations, fields, medicinal and aromatic plants. These products improve the quality & quantity of food crops and protect plants from diseases & harmful insects. These fertilizers include NPK (nitrogen, phosphorus, and potassium), dipotassium phosphate, ammonium sulfate, potassium nitrate and monopotassium phosphate. Increasing demand for food crops, vegetables & fruits and food grains on account of growing population is anticipated to increase the industry size during the forecast period.
Referring to the study, “Global Water Soluble Fertilizers Market, 2021-2027” some of the key companies operating in the global water soluble fertilizers market include Sociedad Quimica y Minera de Chile (SQM), Haifa Group, Yunnan Yuntianhua Co., Ltd., Israel Chemicals Ltd., Yara International ASA and among others. Market participants operating in the water-soluble fertilizer market have recognized the future growth potential of water-soluble fertilizers and therefore continuously strive to innovate and introduce new products to the market to increase their awareness. Companies are enhancing their production capacities for a variety of types of water-soluble fertilizers and expanding their global reach that contributes to the popularity & demand for these fertilizers in countries where agriculture is predominant.
Rapid growth in greenhouse vegetable production, followed by high efficiency of water-soluble fertilizers, limited availability of arable land, growth in advancement in farming practices & technologies, rise in need for food security for the growing population, increase in government subsidies for adoption of this technology, rise in demand for fruits & vegetables, ease of application of water-soluble fertilizers and increase in environmental concerns are some major factors, which are responsible for growth of the water soluble fertilizers market. Apart from this, growth of organic fertilizers industry and lack of awareness on the optimum usage of fertilizers may impact the market. Moreover, rise in demand for water-soluble nutrients and wide scopes of micro irrigation system are leading opportunities for market.
Based on regional analysis, the Europe region dominates the global water soluble fertilizers market owing to increase in awareness about the benefits of water-soluble fertilizers, among the cultivators coupled with growth in population across the region. The North-America and Asia-Pacific regions are estimated to witness higher growth rate due to growth in adoption rate of micro and merchandize irrigation systems and increase in agricultural technologies & agricultural exports of key products over the forecast period. It is projected that future of the global water soluble fertilizers market will be bright on account of rise in disposable income and increase in food demand during the forecast period.
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Ankur Gupta, Head Marketing & Communications