According to ChemAnalyst report, “Global Water-Soluble Fertilizers (WSF) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Water-Soluble Fertilizers (WSF) market has shown considerable growth in historic period and is anticipated to achieve a healthy CAGR of 5.65% during the forecast period. The harmful impact of excessive fertilizers consumption on environment has become a condemning issue for agriculture industry and farmers as well. In order to increase the production of crops, cropping patterns, changes in fertilization and methods for high yielding varieties have contributed to the increased use of WSF. As Water Soluble Fertilizers are readily soluble in water, they help in the process of fertigation by releasing the essential nutrients to the plant roots where they are easily absorbed.
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Water-Soluble Fertilizers are those fertilizers that can easily be dissolved in the soil. Different fertilizers and fertilization techniques have become a major solution to the ever-growing demand for agricultural products. Keeping the water resources and degradation of soil, Modern agriculture must supply products with optimal rates throughout the growth cycle in the most efficient manner possible. WSF are of different types such as phosphatic, nitrogenous, potassic, and micronutrients. Due to their nutrient enhancing properties, they also find its application in foliar operations. Depending upon the crop type, WSF can be segmented into plantations, cereals, horticulture, vegetables, greenhouse crops, turf and ornamentals. With the help of WSF, essential nutrients can be uniformly applied throughout the plant on daily bases. It also helps in reducing the accumulation of salts in the soil. Due to increasing environmental concern and changing climate pattern, the agriculture industry is being continuously challenged to evaluate ‘green’ or ‘bio-based’ products and processes.
Due to the advancement in farming techniques such as smart plantation and precision farming, there is a surge in the demand of Water-Soluble Fertilizers which will drive the global market of WSF in upcoming years. High requirement of organic and green fertilizers is expected to further push the demand of WSF during the forecast period. Additionally, mergers and acquisitions in companies including the merger between Agrium, Potash and Nutrien are anticipated to create growth opportunities in the near future. WSF will highly influence the economy and crop yield of cultivation. Growing demand of vegetables and fruits due to high population is likely to propel the WSF market worldwide. Due to the small number of restrictions on product approval, low cost for the development of product and high yielding of crops, WSF are highly adopted by agricultural industry.
Major Players:
- Agrium
- Haifa
- Potash Corp
- Mosaic Company
- Yara International
- Israel Chemical Limited
- Sociedad Quimica Yminera SA SQM (Chile)
- Others.
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Due to the onset of COVID-19, the supply of Water-Soluble Fertilizers was highly affected. The global crises had a huge impact on the sales and distribution of WSF and other agrochemicals. Due to government’s restrictions on travel ban, the manufacturers discontinued their operations for a while, which in turn affected the global supply chain.
Region wise, Asia Pacific region dominates the Water-Soluble Fertilizers market. The dominance in Asian countries is due to the continuous rise in population and requirements for food security. Also, the support from government for agriculture modernization is another factor propelling demand rise in Asia Pacific.
Key Points of this Report:
- Analysing the market potential by its grade, applications, end-use, segments and volume by calculating the Compound Annual Growth Rate (CAGR) from historic and forecast period.
- Focusing on the driving factors, opportunities, growth, potential and challenges in the market.
- Brief information on the production, manufacturing, handling, sales and distribution across different geographic channels to expand economy and revenue.
- Evaluating a competitive landscape of more than ten global companies by analysing their product value, import-export sales and supply-demand gap.
“Being linked to the downstream application such plant growth, irrigation and crop protection etc, the global Water-Soluble Fertilizers Industry has shown a significant growth along with the growing population, demand for food security and government support. It is anticipated that in upcoming years, India is going to become the world’s fifth biggest consumer market. In addition, growing per capita income worldwide poised a stronger outlook to the country’s WSF demand. The government’s restriction due to global crises affected the global supply chain and caused immediate shortage of labours for large scale production. Meanwhile, China serves as the largest region for growth as well as with sufficiently installed capacities. With new competitors emerging across the Asian WSF market, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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