The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The water-soluble fertilizers market has seen robust growth in recent years and is poised for continued expansion. This growth is driven by several key factors and emerging trends.

Current Market Growth

• Market Size and Growth Rate:
  • Grew from $14.48 billion in 2023 to $15.26 billion in 2024.
  • CAGR of 5.4%.
• Key Drivers:
  • Increasing awareness of crop nutrient requirements.
  • Rise in greenhouse and hydroponic cultivation.
  • Government initiatives and subsidies.
  • Shift towards sustainable agriculture.
  • Improved access to agricultural information.

Future Market Projections

• Expected Growth to 2028:
  • Market size of $19.16 billion in 2028.
  • CAGR of 5.8%.
• Key Drivers:
  • Rising global population and food demand.
  • Focus on nutrient efficiency and crop yield.
  • Expansion of controlled environment agriculture.
  • Market emphasis on sustainable agriculture.

View More On The Water-Soluble Fertilizers Market Report 2024 – https://www.thebusinessresearchcompany.com/report/water-soluble-fertilizers-global-market-report

Major Trends in the Forecast Period

• Precision Agriculture: Adoption of technology-driven farming for better crop management.
• Technological Advancements: Improved formulations for enhanced efficiency.
• High-Quality Crops: Rising demand for superior produce.
• Environmental Sustainability: Greater focus on eco-friendly farming practices.
• Hydroponic and Fertigation Systems: Shift towards soilless and efficient nutrient delivery systems.

Increasing Need for Water-Soluble Fertilizers

• Demand Growth:
  • Water-soluble fertilizers are easily applied and managed through irrigation systems.
  • Nutrients are directly available to crops, reducing leaching and erosion.
• Price Surge:
  • Significant price increases in traditional fertilizers.
  • Potash fertilizer prices climbed by 165%, phosphate fertilizer prices by 120% to 128%.
• Market Impact:
  • Rising fertilizer costs drive the adoption of water-soluble alternatives.

Key Players in the Market

• Notable Companies:
  • Nutrien Ltd.
  • Israel Chemicals Ltd.
  • Coromandel International Limited.
  • The Mosaic Company.
  • K+S AKTiengesellschaft.
  • Agrium Inc.
  • Iowa Fertilizer Company.
  • Qatar Fertilizer Company.
  • Sociedad Quimica Y Minera SA (SQM).
  • Yara International ASA.
  • BMS Micro-Nutrients NV.
  • COMPO EXPERT INDIA PRIVATE LIMITED.
  • Haifa Group.
  • Indian Farmers Fertiliser Cooperative Limited.
  • EuroChem Group AG.
  • Gujarat Agro Industries Corporation Ltd.
  • Zuari Agro Chemicals Limited.

Product Innovation Drives Market Growth

• Key Trend: Innovation in product formulations to meet diverse agricultural needs.
• Notable Example:
  • SQM’s Ultrasoline K Plus (July 2022):
    • Water-soluble fertilizer with iodine, nitrogen, and potassium.
    • Supported by over 100 field tests.
    • Eco-friendly production reducing greenhouse emissions by up to 40%.

Strategic Acquisitions

• ICL Group Ltd. Acquisition (July 2021):
  • Acquired Compass Minerals’ South American Plant Nutrition Business for $420 million.
  • Strengthens ICL’s position in Brazil as a leading specialty plant nutrition company.
  • Expands product portfolio to include enhanced efficiency fertilizers and micronutrients.

Market Segmentation

• By Type:
  • Nitrogenous
  • Phosphatic
  • Potassic
  • Other Types
• By Form:
  • Dry
  • Liquid
• By Crop Type:
  • Field Crops
  • Horticultural Crops
  • Plantation
  • Turf and Ornamentals
  • Other Crop Types
• By Application:
  • Foliar
  • Fertigation

Regional Insights

• Asia-Pacific: Largest region in the water-soluble fertilizers market in 2023.

The water-soluble fertilizers market is set for significant growth, driven by technological innovations, increasing agricultural demands, and a global shift towards sustainable farming practices. Key players and strategic acquisitions are shaping the competitive landscape, ensuring that the market continues to thrive.

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The Water-Soluble Fertilizers Global Market Report 2024  provides comprehensive insights on the water-soluble fertilizers market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the water-soluble fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

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