According to SPER Market Research, Throughout the anticipated period, it is anticipated that the size of the global market for water-soluble fertilizers would expand. Growing awareness of the need of regulating soil fertility is the key factor propelling the market for water soluble fertilizers. The market for water-soluble fertilizers is also predicted to grow as a result of greenhouse vegetable production, growing environmental concerns, high fertilizer efficacy, convenience of use, and the limited availability of arable land. The fast growing organic fertilizers industry, a lack of customer awareness, and expensive handling costs all act as restraints on the market for water soluble fertilizers. Due to the increasing awareness for water-soluble nutrients, the market for fertilizers that are soluble in water will also have several potential opportunities.
Water-Soluble Fertilizers Market Overview:
- Forecast CAGR (2022–2032): 4.66%
- Forecast Market Size (2032): 27.26 billion
Due to different socioeconomic developments that developed during this pandemic, the pandemic outbreak has had a negative impact on the worldwide market. Manufacture has slowed as a result of lockdowns that have stopped the production of speciality fertilizers in numerous important regions that produce them. Global trade limitations put in place by different nations have hampered the flow of these fertilizers, but with the relaxation of these restrictions, things should get better soon. Due to the slowdown in the economy, the demand for water-soluble fertilizers in developing nations may continue to be weak in the coming months. Therefore, a drop in consumer demand for high-end agricultural goods will result in farmers spending less on expensive agricultural inputs. But because of an anticipated rise in demand for high-quality fertilizer inputs to address the issue of need for food security, it is predicted that the demand for WSFs would acquire significant impetus in the upcoming years. The pandemic has inspired people to choose a healthier lifestyle and strengthen immunity, and as a result, it is predicted that demand for nutrient-rich foods like fruits, vegetables, and nuts will increase. This increase in demand for premium agricultural products in the coming years will present growth opportunities for specialty fertilizers.
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Water-Soluble Fertilizers Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Doggett, Ferti Technologies, Garsoni International, Grow More, Haifa, ICL Specialty Fertilizers, Master Plant-Prod, Miller Chemical & Fertilizer, National Liquid Fertilizer, Plant Marvel, PRO-SOL, SQM, Sun Gro Horticulture, Timac Agro USA, Yara.
Global Water-Soluble Fertilizers Market Segmentation:
By Form: Based on the Form, Global Water-Soluble Fertilizers Market is segmented as; Dry (Granules, Powder), Liquid.
By Product: Based on the Product, Global Water-Soluble Fertilizers Market is segmented as; Micronutrients, Nitrogenous, Phosphatic, Potassium, Others.
By Crop Type: Based on the Crop Type, Global Water-Soluble Fertilizers Market is segmented as; Field Crop, Horticulture, Turf & Ornamentals, Others.
By Application: Based on the Application, Global Water-Soluble Fertilizers Market is segmented as; Fertigation, Foliar.
By Region: The Global Water-Soluble Fertilizers Market is divided into Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, and the Rest of the World based on regional analysis. The region of Asia-Pacific is making significant advancements and is anticipated to record the highest compound annual growth rate (CAGR) over the course of the forecast period. The widespread usage of micro and commercial irrigation systems is to blame for this. Due to rising understanding about managing soil fertility, North America has one of the highest CAGRs.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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