Industry Highlights
The advantages of water soluble fertilizer are rapid impact, easier coverage, and ease of use. Thus, growth in demand for water soluble fertilizer over other types is dominating this market rapidly. The rising awareness over organic farming also increases the application of water soluble fertilizers during the forecast years. The global soluble fertilizer market can be segmented on the basis of type and region. On the basis of type, water soluble fertilizer dominates this market, owing to the ease of application. However, on the basis of application, horticulture segment leads, as compared to other sub-segments; accounting to the increasing and elevating demand of vegetables and fruits that further increases the yields and quality of the product.
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Market Overview
Fertilizers refer to the substances that are added to raise the yield by supplying crops with the nutrients that soil lacks. Plants require minerals and nutrients that are present in soil. However, if they exist in a form that cannot be dissolved in water, the plants cannot consume them. Water-soluble fertilizer is a multi-compound fertilizer that is dissolved in water and makes it easier for the crops to absorb them. The utilization and absorption process becomes high as compared to conventional chemical fertilizers. Population explosion, urbanization, industrialization, and energy demand has increased the conversion of cropland to the other domestic and industrial uses.
In the past few years, practices related to soil fertility management have gained significance; thanks to loss of arable land and an increase in the demand for food. Soil fertility management practices occupy conservation tillage, rotation of the crop and optimal utilization of pesticides and fertilizers. Farmers around the globe are adopting soil management practices to enhance the quantity and quality of agricultural production. These methods comprise the use of chemicals and fertilizers for agricultural purposes. The rising adoption of soil management practices for maintaining soil nutrition will drive the soluble fertilizers market’s growth in the years to come.
Top Industry Player’s
Some of the key players in the global soluble fertilizer market include Agrium Inc., Israel Chemical Ltd., Sociedad Química Y Minera De Chile (SQM), K+S AKTiengesellschaft, Yara International Asa, Haifa Chemicals Ltd., Compo GmbH & Co. Kg, Coromandel International Ltd., The Mosaic Company and Hebei Monband Water Soluble Fertilizer Co., Ltd.
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Market Segments
The global soluble fertilizer market can be segmented on the basis of type and region. On the basis of type, the global soluble fertilizer market can be segmented into NPK water-soluble, humic acid water-soluble, amino acid water-soluble and other. On the basis of application, the global soluble fertilizer market can be segmented into horticulture, crop and other. On the basis of region, the global soluble fertilizer market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.
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