Water Soluble Fertilizers Market to Grow by USD 3.57 Billion (2024-2028), Driven by Demand from Developing Countries, AI’s Impact on Market Dynamics- Report by Technavio

NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global water soluble fertilizers market size is estimated to grow by USD 3.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.84% during the forecast period. Increase in demand from developing countries is driving market growth, with a trend towards adoption of precision farming. However, health concerns regarding the use of water-soluble fertilizers poses a challenge. Key market players include Captain Polyplast Ltd., CF Industries Holdings Inc., Cifo Srl, Compagnie Financiere et de Participations Roullier, EID Parry India Ltd., Green Has Italia SPA, Grupa Azoty SA, Gujarat State Fertilizers and Chemicals Ltd., Haifa Negev technologies Ltd., Indian Farmers Fertiliser Cooperative Ltd., Industries Qatar Q.P.S.C, Israel Chemicals Ltd., KS Aktiengesellschaft, Nutrien Ltd., Sinochem Group Co. Ltd., SQM S.A., The Mosaic Co., Uralchem JSC, Yara International ASA, and Zuari Agro Chemicals Ltd..

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Key Market Trends Fueling Growth

Precision farming is a cost-effective and efficient agricultural technique that optimizes the use of water soluble fertilizers. This method, which uses technology applications like high-precision positioning systems, smart sensors, and satellites, enables farmers to apply precise amounts of fertilizers based on soil conditions and nutrient requirements. The popularity of precision farming is on the rise due to its ability to improve farming practices, increase yields, and reduce costs. In developing countries such as China, India, and Bangladesh, the adoption of this technique will fuel the demand for water soluble fertilizers during the forecast period. Precision farming technologies, including variable-rate input (VRT), soil and yield mapping, and tractor guidance systems using a global positioning system (GPS), provide farmers with valuable insights into soil fertility, moisture content, and nutrient availability. These technologies help farmers adjust their production practices accordingly, thereby supporting the growth of the global water soluble fertilizers market. 

The Water Soluble Fertilizers market is experiencing significant growth due to increasing food consumption and the need for food security. With land availability becoming a concern, farmers are adopting advanced farming techniques like hydroponics and nutrient film technique to maximize crop yield. Environmental concerns have led to a shift towards water-soluble fertilizers, as they provide precise nutrient delivery and reduce nutrient loss. Fruits and vegetables, horticultural crops, turf & ornamentals, and field crops all benefit from water-soluble fertilizers. Macronutrients like Nitrogen, Phosphorus, and Potassium are essential for plant growth and are commonly found in water-soluble forms. Micronutrient fertilizers ensure the nutritional value of crops. Natural fertilizers and organic farming alternatives are gaining popularity, but water-soluble fertilizers offer faster nutrient uptake. Synthetic fertilizers like Nitrogenous fertilizers (ammonia, nitric acid, urea), Phosphatic fertilizers, and Potassic fertilizers dominate the market. Companies like Nutrien, Casa do Adubo, and Polysulfate lead the market, offering specialized fertilizers for various crops. Geopolitical factors like the Ukrainian conflict and natural gas prices impact the production of synthetic fertilizers. Foliar application and fertigation are popular application methods for water-soluble fertilizers. Overall, the market is expected to grow due to the need for efficient nutrient delivery and increased food production. 

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Market Challenges

• Water soluble fertilizers are essential agricultural inputs containing various chemicals that enhance crop yield and productivity. However, these fertilizers can pose potential health and environmental risks. The chemicals in these fertilizers, such as cadmium, aluminum, copper, and lead, can contaminate water bodies and adversely affect human health. Consumption of contaminated water can lead to health issues like hypertension, skin diseases, kidney failure, and even mental retardation. Furthermore, the application of these fertilizers to crops can increase the risks of cancer, including leukemia, large intestine cancer, and prostate cancer. These concerns may hinder the growth of the water soluble fertilizers market during the forecast period. It is crucial for manufacturers to focus on developing eco-friendly and safer alternatives to mitigate these risks.
• The Water Soluble Fertilizers market faces several challenges in the agricultural industry. Key nutrients like Nitrogen, Phosphorus, and Potassium are essential for crop growth. However, the availability of these nutrients, particularly Nitrogen from sources like natural gas, affects fertilizer prices. The Ukrainian conflict and synthetic ammonia production impact Nitrogen supply. Organic farming gains popularity, increasing demand for organic fertilizers. Major players like Nutrien and Casa do Adubo offer Water Soluble Fertilizers in various forms – granules, powder, and solutions. Segments include Nitrogenous, Micronutrient, Phosphatic, and Potassium. Crop types like field crops, oilseeds, and grain plantations require different nutrient combinations. Specialty fertilizers cater to specific crop needs. Nutrient accessibility becomes crucial with growing population and food demand. Dry Water-Soluble Fertilizers are popular for cultivation methods like fertigation and foliar application. Conventional fertilizers face competition from Water Soluble Fertilizers due to their quick nutrient availability. Cultivation of various crops, horticulture, and gardening activities rely on these fertilizers for optimal nutrient intake.

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Segment Overview 

This water soluble fertilizers market report extensively covers market segmentation by

1. Type 

• 1.1 Fertigation
• 1.2 Foliar

Application 

• 2.1 Nitrogenous
• 2.2 Potassic
• 2.3 Phosphatic

Geography 

• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Fertigation- The water-soluble fertilizer market is experiencing significant growth due to its efficiency and ease of use. These fertilizers dissolve quickly in water, allowing for immediate nutrient absorption by plants. Farmers prefer water-soluble fertilizers for their ability to deliver consistent crop yields. Additionally, they are ideal for large-scale farming operations and hydroponic systems. Key players in the market include Haifa Group, Mosaic Company, and The Mosaic Fertilizer, LLC. These companies focus on research and development to produce high-quality, effective fertilizers.

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Research Analysis

Water-soluble fertilizers are essential nutrient solutions for modern agriculture, providing Nitrogen, Phosphorus, and Potassium in a readily available form for crops. These fertilizers are increasingly popular due to their high nutrient accessibility, making them ideal for intensive cultivation, hydroponics, and fertigation. The market for water-soluble fertilizers is driven by population growth and food demand, with an emphasis on maximizing crop yields. Nitrogen is a key component, sourced from synthetic ammonia or natural sources like nitric acid and ammonium nitrate. Phosphorus and Potassium are also essential, with urea and specialty fertilizers completing the range. The market is influenced by global events like the Ukrainian conflict and natural gas prices, which impact the production of synthetic fertilizers. Organic farming also plays a role, with some farmers opting for natural water-soluble fertilizers derived from solvents and water. Foliar applications are another trend, providing nutrients directly to the leaves for optimal growth. Dry Water-Soluble Fertilizers offer convenience and efficiency, making them a valuable tool in modern agriculture.

Market Research Overview

Water-soluble fertilizers are essential nutrient solutions for agriculture, horticulture, and gardening activities. These fertilizers contain Nitrogen, Phosphorus, and Potassium in soluble forms, making them easily accessible to plants. The Nitrogen segment includes synthetic forms like Nitric acid, Ammonium nitrate, Urea, and natural forms like Urea ammonium nitrate. Organic farming also uses natural fertilizers, but water-soluble forms are not common. The Ukrainian conflict and natural gas prices impact synthetic ammonia production, affecting nitrogenous fertilizer prices. Phosphorus is available as Phosphoric acid, Triple Super Phosphate, and Monocalcium Phosphate in the Phosphatic segment. Potassium comes as Potassium chloride, Potassium sulfate, and Potassium magnesium sulfate in the Potassic segment. The market comprises Dry Water-Soluble Fertilizers, NPK fertilizers, Specialty fertilizers, and Foliar and Fertigation segments. Field crops, nutrient accessibility, population, food demand, and advanced farming techniques drive the market. Cultivation of field crops like grain plantations, oilseeds, fruits, vegetables, and horticultural crops benefit from these fertilizers. Nutrient availability, environmental concerns, food consumption, and food security are significant factors. Granules and Powder forms are common, with Nitrogenous, Micronutrient, and Phosphatic segments catering to various nutritional needs.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Type
• Fertigation
• Foliar
• Application
• Nitrogenous
• Potassic
• Phosphatic
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

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