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Water Soluble Fertilizers Market Size, Share & Industry Analysis, By Type (Nitrogenous, Phosphatic, Potassic, and Others), By Application (Foliar and Fertigation), By Crop Type (Field Crop, Horticulture, Turf & Ornamentals, and Others), and Regional Forecasts, 2019 – 2026

Region : Global | Published Date: Feb, 2020 | Report ID: FBI102146

 

KEY MARKET INSIGHTS

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The recognition and popularity of water-soluble fertilizers as immediate nutrient deficiency corrector is increasing globally. Earlier, WSFs were popular mainly across the developed markets, but with growing research & development and active participation of fertilizer giants, these fertilizers are becoming a prominent part of the agriculture industry in developing economies as well. Increased awareness about novel crop stimulating and protecting solutions among farmers is further expected to enhance the market size of water-soluble fertilizers.


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The water-soluble fertilizers market growth is fueled by the escalating demand for efficient fertilizers that can significantly uplift the nutrient uptake within crops and can provide them nutrients in a regulated manner. Rising adoption of advanced farming practices, coupled with proliferating demand for fruits, vegetables, and other high-value crops with high nutritional value is expected to contribute positively in enlarging the WSF market revenue.


MARKET DRIVERS


“Proliferating Demand for High-efficiency Crop Commodities for High-Value Crops to Support Market Growth”


The water-soluble fertilizers market demand is projected to witness continuous growth during the forthcoming years due to the rising requirement of specialty fertilizers to enhance the production of high-quality crops. Growing world population, especially population growth in several developing countries, has raised concerns over the sufficiency of food available for the growing population and food production solutions. Considerable decline in arable land across prominent crop-producing countries, coupled with the rising prevalence of nutrient deficiency in crops, is projected to offer immense growth opportunity to capable crop nutrition solutions such as water-soluble fertilizers.


Moreover, growing initiatives by the government to promote water-soluble fertilizers and the launch of programs to educate farmers about the novel fertilizer type and its benefits will aid the market growth. However, the high price of these specialized fertilizers can act as a major restraint on the market growth during the forecast period. Low cost-effectiveness of these fertilizer varieties can restrict their use in countries where per capita income is low.


 “Increasing Investment by Key Market Players in Product Development to Fuel the Market”


Market players operating in the WSF market have realized the future growth potential of water-soluble fertilizers and hence, are making continuous efforts to innovate and launching new products in the market to establish their prominence. Companies are stepping up their production capacities of various WSF grades and expanding their global reach, which is aiding the popularity and demand for these fertilizers across countries where agriculture is practiced primarily.


SEGMENTATION


By Type Analysis


“Demand for Nitrogenous Fertilizer to Remain High Throughout the Forecast Period”


At the global level, the nitrogenous fertilizer segment is predicted to lead and witness robust growth in demand during the forecast years due to their ability to promote higher crop yield and their high and easy availability in the world market. The demand for phosphatic fertilizers is expected to grow in the upcoming years on account of rising concerns related to crop loss due to frequently changing climatic conditions, aiding the growth of the water-soluble fertilizers industry. Potassium Nitrate, Urea Phosphate with SOP, Urea Phosphate, Calcium Nitrate, and Sulphate of Potash are some of the prominent water-soluble fertilizers grades available in the global market.


By Application Analysis


“Fertigation to be the Most Adopted Application Method for WSFs in the Global Marketplace”


At the global level, fertigation is the most preferred application method for water-soluble fertilizers as through this method pre-existing nutritional deficiency in the crop can be controlled effectively. The method is effective in saving fertilizer usage up to 25% and as WSFs are costly crop nutrition commodities, applying them smartly through fertigation can effectively reduce the production cost of several crops. Additionally, the market availability of water-soluble fertilizer for drip irrigation is increasing at an appreciable rate due to the rising acceptance of irrigation technologies for fertilizer applications in the world market.


By Crop Type Analysis


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“Horticulture Segment will Hold the Major Revenue Share”


At present, the horticulture segment is dominating in the global marketplace and it is expected to be the fastest-growing segment during the foreseeable years. Increasing demand for a nutrition-rich diet globally is expected to drive the high-value crop demand, which is further anticipated to boost the segment’s growth. A number of horticulture crop varieties requires specialized nutrients, climatic conditions, and conditioning for appropriate growth and water-soluble fertilizers can fulfill that requirement efficiently. WSFs can improve the color, appearance, and quality of several horticulture crops such as strawberries, potato, and mango, and hence their adoption by farmers growing these crops is expected to rise crucially. Growing demand for food due to rapid proliferation in global population is anticipated to contribute in increasing the usage of water-soluble fertilizers in field crops.


REGIONAL ANALYSIS


“Asia-Pacific Water-Soluble Fertilizers Market to Rise at the Fastest Pace”


Asia-Pacific water-soluble fertilizers market will register the fastest compound annual growth rate (CAGR) of 7.24% during 2019-2026. Growing awareness and adoption of advanced crop nutrition products and technologies in the economies of China and India are expected to fuel the market growth of the region. Degrading arable land and limited water resources in agriculture-oriented Asian countries is generating the demand for highly efficient fertilizers such as WSFs. In recent years there has been a significant increase in the number of specialty and water-soluble fertilizer manufacturers in China, which will support the market growth.


 In Asia-Pacific, the investment by multinational agricultural giants such as ICL, Nutrien, Yara, and others has risen crucially as APAC is emerging as a profitable market for advanced fertilizers with high growth potential. Rapidly expanding population size across major Asian economies and growing concern over food security is another reason for the increased demand for water-soluble fertilizers across the region.


Europe Market Size (by Value), 2018

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Growth in the production of high-value crops in Asia and Southeast Asia due to increasing urbanization, improving the economy, and high trade liberalization is projected to escalate the water-soluble fertilizer demand across the region. In developing markets, subsidizing of water-soluble fertilizers is expected to promote their usage among farmers at a speedy pace. Furthermore, the establishment of appropriate legislation to regulate these fertilizers will aid the distribution of quality fertilizers across APAC.


At present, Europe holds the largest portion in the water-soluble fertilizers market share attributed to high adoption of specialized fertilizers in countries such as Russia, Spain, and France. Changing climatic conditions in Europe, coupled with high penetration of global water-soluble fertilizers producing companies in the European market, is fuelling the market growth. Furthermore, expansion of businesses into the aforementioned fertilizer domain by regional conventional fertilizer leaders will help in enhancing the water-soluble fertilizers market size in Europe. For instance, in 2018, Eurochem Group, a leading global agribusiness group of major market players, headquartered in Switzerland, entered into the water-soluble fertilizer business by inaugurating a USD 16 million WSF fertilizer production plant in Lithuania (Europe).


INDUSTRY KEY PLAYERS


“Rising Consolidation in the Global Water-Soluble Fertilizers Market to Intensify Competition”


Agriculture industry giants such as Nutrien, Israel Chemicals Limited (ICL), Yara International, and SQM have set novel standards in the soluble fertilizer industry by developing innovative crop nutrition products. Besides, the aforementioned key global players, regional market players such as EuroChem, RNZ Group, and others present in the agriculture industry are becoming increasingly interested in the WSF development and are hence expanding their business into the new sector.


In recent years, market consolidation in the specialized fertilizer industry has increased and this has impacted the market positively. The establishment of Nutrien (merger of Potash Corporation and Agrium) in 2018 is one of the best examples. Companies operating in the global water-soluble fertilizers industry such as SQM and ICL are centering on increasing their production capacities and increasing their market presence across the global market through acquisitions and collaborations.


WATER-SOLUBLE FERTILIZERS MARKET COMPANIES:



  • SQM

  • Nutrien Ltd.

  • ICL

  • Yara International

  • Haifa Chemicals Limited

  • The Mosaic Company

  • EuroChem

  • Coromandel International

  • Qatar Fertilizer Company

  • COMPO EXPERT


Report Coverage 


The agriculture industry is witnessing crucial growth in the water-soluble fertilizer sale. The escalating focus on food security is leading to increased investment and development across the agriculture sector. Furthermore, increased technological advancement in the global agriculture industry will support the growth of the market in the future years.


The report provides qualitative and quantitative insights into the water-soluble fertilizer market. It also offers a detailed analysis of the WSF market size and growth rate for all possible segments in the market.  


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Along with this, the water-soluble fertilizers market report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key industry trends.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



 2015-2026



Base Year



 2018



Forecast Period



 2019-2026



Historical Period



 2015-2017



Unit



 Value (USD Million)



Segmentation



By Type



  • Nitrogenous

  • Phosphatic

  • Potassic

  • Others



By Application



  • Foliar

  • Fertigation



By Crop Type



  • Field Crop

  • Horticulture

  • Turf & Ornamentals

  • Others



By Region



  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., France, Italy, Spain, Germany, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia-Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • Middle East & Africa (South Africa, UAE, and the Rest of the MEA)



INDUSTRY DEVELOPMENT:



  • In January 2020, Gujarat Agro Industries Corporation (GAIC), an Indian state agency, which promotes agro-based industries, launched imported water-soluble fertilizers in Ahmedabad. The product will be marketed under the agency’s new-generation fertilizer brand “AGRO”.

  •  In January 2018, Agrium Inc. and Potash Corporation, global leaders in specialty crop nutrient products, merged to form Nutrien Ltd. The merger is aimed at strengthening market position in the world market along with offering consumers with high-tech and advanced agricultural products and solutions.


Frequently Asked Questions

Fortune Business Insights says that the value of the market was USD 14.34 Billion in 2018 and is projected to reach USD 23.09 Billion by 2026.

Growing at a CAGR of 6.28%, the market will exhibit steady growth in the forecast period (2019-2026).

The nitrogenous fertilizer segment is expected to be the leading segment based on type in the global market during the forecast period.

Amplifying demand for high-quality crop and rising prevalence of crop loss due to nutrient deficiency are driving the growth of the market.

SQM, Nutrien, ICL, and Yara International are few of the key players in the WSF fertilizers market.

Europe is expected to hold the highest market share in the water-soluble fertilizers market in 2026.

Fertigation segment is expected to grow at the fastest pace during the forecast period.

Proliferating demand for more efficient fertilizer nutrients solutions and increasing regulations and stringency on the level or amount of nutrient application in the soil are the key market trends that are driving the growth of the market

Water Soluble Fertilizers (WSF) Market Size, Share and Global Industry Trend Forecast till 2026
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