Global Water-Soluble Fertilizers Market Expected to Reach $25.1 Billion by 2028, Driven by Rising Agricultural Demands

The water-soluble fertilizers market is poised for substantial growth, with estimates projecting it to reach USD 25.1 billion by 2028 at a CAGR of 6.5%, according to a recent research report by MarketsandMarkets. The market, valued at USD 18.3 billion in 2023, is fueled by the increasing prevalence of nutrient deficiencies in crops, coupled with the growing imperative for enhanced agricultural productivity.

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Water-soluble fertilizers, renowned for their optimal blend of nitrogen, phosphate, potassium (NPK), and essential micronutrients, are readily soluble in water, making them ideal for applications such as drip irrigation. The report highlights the efficiency of nutrient absorption by crops when dissolved in water, attributing it as a key factor driving market demand.

Key Findings and Market Dynamics:

Nitrogenous Fertilizers Dominate:

The report underscores the dominance of water-soluble nitrogenous fertilizers in the market. Nitrogen, a crucial component of chlorophyll, plays a pivotal role in photosynthesis and energy optimization within plants.

Fertigation Gains Traction:

The growing popularity of drip and micro irrigation techniques is expected to boost the fertigation mode of application. Fertigation, the simultaneous supply of dissolved fertilizers and water through irrigation systems, offers efficiency and resource savings for growers.

Horticulture Drives Demand:

The cultivation of high-value crops in horticulture, including fruits, vegetables, and decorative plants, is set to dominate the market during the study period, driving the demand for water-soluble fertilizers.

Preference for Dry Form:

The ease of storage, longer shelf life, and availability of customized blends contribute to the increasing demand for the dry form of water-soluble fertilizers. The convenience of handling solid forms such as granules and powder is a key factor for growers.

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Asia Pacific's Leading Growth:

Asia Pacific, particularly countries like India and China, emerges as a significant contributor to market growth. The region's heavy dependence on agriculture and the increasing adoption of water-soluble fertilizers to meet growing food demands propel the market forward.

Key Players:

Prominent players in the water-soluble fertilizers market include Nutrien, Israel Chemical Company, SQM, K+S Aktiengesellschaft, Yara International, Haifa Chemicals Ltd, Compo GmbH, Coromandel International Ltd, The Mosaic Company, and others. The report emphasizes their strong presence and market share, contributing to the overall growth of the water-soluble fertilizers market, particularly in the Asia Pacific region.

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