Selbyville, Delaware, July 18, 2022 (GLOBE NEWSWIRE) --
The water soluble fertilizer market value is projected to surpass USD 12.5 billion by 2030, according to a new research report by Global Market Insights Inc. Provision of safety, enhanced durability, and superior service with reduced maintenance are key factors for the industry growth.
The global horticulture crop production is growing at a rapid rate despite rising crop prices and significant labor costs involved. This sector is gaining attention across the globe owing to the presence of higher nutritional content. This will further provide immense opportunities to fertilizer manufacturers over the coming years.
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Plantation crops are expected to have the highest growth potential and ability to capture the market. This can be attributed to the growing demand for crops including coffee, cotton, cocoa, tea, sisal, opium, sugar cane, oil palms, oil seeds, etc. Rising disposable income and population across the globe will drive water soluble fertilizer market revenue.
Several economies, such as the U.S. and the EU, are adopting environmental policies to minimize nitrogen loss. For instance, the EU has passed an agreement to limit the use of cadmium in phosphorus fertilizers that will be in effect from 2022. All these environmental policies may limit the usage of chemical fertilizers.
Browse key industry insights spread across 450 pages with 611 market data tables & 26 figures & charts from the report, “Water Soluble Fertilizer Market Analysis By Form (Dry [Granules, Powder], Liquid), Product (Nitrogenous [Urea, Ammonium Nitrate, Calcium Nitrate, Others], Micronutrients [Iron, Manganese, Zinc, Others], Phosphatic [Mono-ammonium phosphate, Phosphoric Acid, Mono Potassium Phosphate, Others], Potassium, [Potassium chloride, Potassium sulfate, Potassium nitrate]), Mode Of Application (Foliar, Fertigation), Crop (Cereals, Vegetables, Fruits, Plantation, Turf & Ornamentals, Greenhouse Crops), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/water-soluble-fertilizers-market
The Middle East & Africa water soluble fertilizer market revenue will witness 7.5% CAGR through 2030 owing to its wide usage in cereals and fruit cultivation. Saudi Arabia and South Africa are the most affected due to COVID-19 and are likely to witness a sharp decline in product demand due to limited regional manufacturing and high dependency on imports. Supply disruptions will impact product demand in the region and thus stabilization of trade activities will surge the regional product demand.
Water soluble fertilizer market from vegetables segment will hold 10% revenue share by 2030. Extensive use of these fertilizers to meet the growing demand for vegetables through agricultural and horticulture activities will surge their use in Asia Pacific, Latin America, and Middle East & Africa. This extensive use is because water-soluble fertilizers offer a wide range of nutrient grades that can be applied uniformly to every plant, even on daily basis, as it reduces the accumulation of salts in the soil.
North American market accounted for 15% business share by 2030 due to the contraction in the consumption from the U.S. This contraction signifies a combination of low international prices for most crops and unfavorable weather in key agricultural & fertilizer-consuming areas (e.g., central U.S.). However, the demand is anticipated to recover in the near term, presuming a return to standard meteorological conditions and the expansion of cereal areas within the region.
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Some of the major players operating in the water soluble fertilizer market are Yara International ASA, Israel Chemical Ltd (ICL), Nutrien Ltd, Haifa Group, K+S Aktiengesellschaft, The Mosaic Company, VAKI - CHIM Ltd., and Coromandel International Limited.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
