Water-Soluble Fertilizers Market by Type (Nitrogenous, Phosphatic, Potassic, and Micronutrients), Application (Fertigation and Foliar Application), Crop Type (Field, Horticultural, and Turf & Ornamentals), and Region - Global Forecast to 2022
Nov 22 2016
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The water-soluble fertilizers market is projected to grow at a CAGR of 5.69% to reach USD 17.06 Billion by 2022. The market growth is driven by the rise in need for food security for the growing population, advancement in farming practices and technologies, growth in demand for fruits & vegetables, and ease of application of water-soluble fertilizers.
On the basis of type, the water-soluble fertilizers market is led by the nitrogenous segment, followed by the phosphatic, potassic and micronutrients segments, respectively. The nitrogenous segment is projected to be the fastest-growing type in the water-soluble fertilizers market, due to the high crop loss by nutrient deficiency and high efficiency of nitrogenous water-soluble fertilizers to reduce this crop loss.
Water-soluble fertilizers are used on all crop types, the ones considered in the study are horticultural crops, field crops, turf & ornamentals and others, which include plantation crops and hydroponics. The market for horticultural crops is the highest and is also projected to be the fastest-growing. This is mainly due to a high demand for fruits & vegetables by the growing population across the world.
The different mode of applications for water-soluble fertilizers are foliar, and fertigation. Fertigation is highly used for applying water-soluble fertilizers. To improve fertility and increase productivity of plants, fertigation is effectively used to control nutritional deficiency. The increasing acceptance of micro irrigation and precision irrigation techniques has proven to be a major driving factor for the fertigation application.
In 2015, Europe accounted for the largest market share in the water-soluble fertilizers market, followed by North America and Asia-Pacific. Russia and Spain constituted the largest country-level markets in the European region in 2015. Increase in awareness about the benefits of water-soluble fertilizers, among the cultivators and rise in population is leading to the growth of the market in this region. The water-soluble fertilizers market in the Asia-Pacific region is projected to grow with investments from several multinational manufacturers. The market is projected to grow because of the increase in agricultural technologies and agricultural exports of key products. Moreover, extensive R&D initiatives have been undertaken for exploring the new varieties of water-soluble fertilizers to be used on different nutrient deficiencies and soil fertility to increase the yield.
Years considered for this report are as follows:
2015 – Base Year
2016 – Estimated Year
2022 – Projected Year
The stakeholders for the report are as follows:
- Water-soluble fertilizer manufacturers
- Water-soluble fertilizer raw material suppliers
- Water-soluble fertilizer product exporters & importers
- Irrigation system manufacturers and suppliers
- Fertilizer manufacturers
“The study answers several questions for stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.”
Scope of the Report
The water-soluble fertilizers market has been segmented as follows:
On the basis of Type:
On the basis of Crop Type:
- Field crops
- Horticultural crops
- Turf & ornamentals
- Others (which include plantation crops and hydroponics)
On the basis of mode of Application:
On the basis of Region:
- North America
- RoW (which includes Africa and The Middle East)
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