Published on : Dec 07, 2016
ALBANY, NY, Dec 07, 2016: According to the research study, the global market for water soluble fertilizers is expected to register a 5.0% CAGR between 2016 and 2020. The rising demand for food due to a tremendous rise in population and the significant rise in biofuels market resulting in high consumption of these fertilizers are some of the primary factors expected to augment global water soluble fertilizers market in the forecast period. In addition, the reducing availability of per capita arable land and the rising popularity of soil fertility management are anticipated to accelerate market’s growth. However, the growing demand for organic farming, logistics concerns, and less awareness about water soluble fertilizers are likely to restrict the growth of the market in the coming years. Nonetheless, the rise in agricultural stability and augmented consumption of water-soluble fertilizers in developing economies are estimated to bolster the global market.
The global water soluble fertilizers market has been classified on the basis of application into fertigation and foliar. In 2015, the fertigation segment led, holding a share of 72% in the global market in terms of revenue. The high growth of this segment can be attributed to the increased use of water soluble fertilizers in order to acquire abundant yield and improved quality of crops, especially grains, fruits, and cereals. In addition, with the help of fertigation, nutrients are expected to enter quickly into the active part of the root, encouraging proper absorption by crops. These factors are anticipated to fuel the growth of the global water soluble fertilizers market in the next few years.
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On the basis of geographical segmentation, the global market for water soluble fertilizers has been categorized into Europe, Asia Pacific, North America, and the Rest of the World. Among these, Europe is expected to lead the global market and account for a massive share throughout the forecast period. As per the study, this region is estimated to reach a value of US$1 bn by the end of 2020, owing to the substantial contribution from Western Europe. However, this region is estimated to witness an ebb in demand owing to the alteration of several crop production support policies.
The water soluble fertilizers market is extremely fragmented in nature with the presence of a large number of players operating across the globe. Key players in the market are competing against each other on the basis of cost, quality, technology, and aftermarket services. The rising number of players in the global market is expected to strengthen the competitive scenario of the global water soluble fertilizers market. Some of the prominent players included in the research study are Sinofert Holdings, Migao Corporation, Vale, Agrium, Haifa, PotashCorp, EuroChem, United Chemical Company, Intrepid Potash, Yara International, Belaruskali, and Mosaic.
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