The global water
soluble fertilizers market is expected to reach USD 22.0 billion by
2024, according to a new report by Grand View Research, Inc. Rising demand for
the product as they improve crop quality and increases crop production output
significantly will augment market growth over the forecast period. Increasing
crop production in countries including China, India, the U.S., Indonesia,
Brazil, Japan and Mexico on account of growing population will drive industry
size over the next eight years. Decreasing availability of arable land is
expected to fuel the product demand over the forecast period.
Horticultural crops are projected to show significant
revenue gains at a CAGR of 6.8% from 2016 to 2024 owing to rising consumption
of fruits, vegetables, spices and medicinal plants. Moreover, rapid economic
development, government support, advancements in fertilizer manufacturing is
anticipated to propel market demand.
Browse full research report on Water Soluble Fertilizers Market: https://www.grandviewresearch.com/industry-analysis/water-soluble-fertilizer-market
Further
key findings from the report suggest:
- Foliar accounted for 30.4% of the overall volume and will show
steady growth in light of rising application in various fruits &
vegetables including tomatoes, beans, and melons. However, high cost as
compared to fertigation will pose a challenge to its growth.
- Europe accounted for 37.6% of the overall revenue share in 2015 and
is expected to witness significant gains in light of rising food security
concern owing to growing population along with high export demand for food
products including wheat and cereals from Germany, France, Italy and UK.
Moreover, the presence of key participants including Yara International,
Bunge Ltd., Agrium, Eurochem, Potash Corp, and CF Industries will promote
industry growth.
- Latin America will witness substantial revenue rise at a CAGR of
7.2% from 2016 to 2024 on account of the presence of various major
participants including The Mosaic Company, Potash Corp, and Haifa
Chemicals. Development of agricultural policies and government schemes to
promote micro irrigation systems, which dispenses water soluble
fertilizers will augment industry size.
- Water soluble fertilizers industry is dominated by major
participants including Agrium Inc., Potash Corp, Israel Chemicals Limited,
The Mosaic Company, K+S AG, and Yara International ASA. Ongoing product
innovation to produce efficient and cost-effective fertilizers is expected
to lead to industry expansion over the next eight years.
- In April 2016, Yara International expanded the Rio Grande
fertilizer plant capacity in Brazil to create one of the most modern
fertilizer sites. In December 2015, Yara International acquired Greenbelt
Fertilizers to expand the fertilizer business in Zambia and surrounding
areas that were experiencing fast agricultural growth. In March 2015,
Israel Chemicals planned to build a potassium nitrate production plant to
meet growing demand for soluble specialty fertilizers.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand
View Research has segmented the global water soluble fertilizers market on the
basis of product, crop type, application, and region:
Water
Soluble Fertilizers Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
- Nitrogenous
- Phosphatic
- Potassium
- Micronutrients
- Secondary
nutrients
Water
Soluble Fertilizers Crop Type Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
- Field
- Horticultural
- Plantation
- Turf &
ornamental
Water
Soluble Fertilizers Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Fertigation
- Foliar
Water
Soluble Fertilizers Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
- North America
- U.S.
- Mexico
- Canada
- Europe
- Germany
- UK
- Italy
- Russia
- Spain
- Ukraine
- Asia Pacific
- China
- India
- Japan
- Australia
- Malaysia
- Latin America
- Brazil
- MEA
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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