The global water-soluble fertilizer market was valued at USD 15.08 billion in 2019 and is projected to grow to USD 36.26 billion by 2032, registering a compound annual growth rate (CAGR) of 7.12% during the forecast period. Europe dominated the market in 2019, holding a 35.54% share. In the United States, the market is expected to see substantial growth, with projections indicating it will reach USD 6.49 billion by 2032. This growth is primarily driven by the increasing demand for high-quality crops, which is spurring the adoption of specialty fertilizers.
Water-soluble fertilizers are highly efficient products that dissolve easily in water and can be directly applied to the soil, minimizing wastage. Significant investments in research and development aimed at creating more efficient fertilizers are anticipated to support the market's expansion. The growing emphasis on sustainable agriculture, driven by rising awareness about crop longevity and yield, has fueled the adoption of environmentally friendly fertilizers. Furthermore, the presence of established manufacturers and the expanding global agriculture sector are expected to have a positive impact on the water-soluble fertilizer market in the coming years.
Request a Free Sample Research PDF - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/water-soluble-fertilizers-wsf-market-102146
Socio-Economic Impact of the COVID-19 Pandemic on the Water-Soluble Fertilizer Market
The COVID-19 pandemic has significantly impacted various industries worldwide, including the water-soluble fertilizer (WSF) market. Government-imposed restrictions and business closures to curb the virus's spread have resulted in widespread socio-economic disruptions. Agriculture, a critical sector, has been among the most affected industries in recent months. These challenges are expected to contribute to a decline in the WSF market's projected CAGR in the coming years as the sector adapts to ongoing constraints and uncertainties.
Increasing Collaborations Among Leading Companies to Drive Market Growth
In recent years, collaborations and partnerships among major companies have emerged as a key driver of growth in the WSF market. Large-scale enterprises are increasingly joining forces to expand their global presence and enhance their market reach. For instance, in December 2019, Van Iperen announced the expansion of its operations into North America through a subsidiary in the United States. Known for its extensive portfolio of specialty fertilizers, Van Iperen has established a strong international presence, collaborating with notable partners such as Milliken. This strategic move not only bolsters the company’s domestic footprint but also reinforces its influence across the agricultural and food and beverage industries.
Inquire Before Buying Report: https://www.fortunebusinessinsights.com/enquiry/enquiry/water-soluble-fertilizers-wsf-market-102146
Asia Pacific to Lead with High CAGR, Driven by Local Manufacturers and Resource Challenges
The report evaluates market trends across five key regions: North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among these, Asia Pacific is anticipated to demonstrate the highest CAGR during the forecast period. Factors such as declining arable land and limited water resources in several countries within this region are expected to drive the demand for water-soluble fertilizers. Additionally, the presence of numerous large-scale local manufacturers, coupled with the growth in imports and exports, will significantly contribute to the market's expansion in this region.
North America is also expected to see substantial growth, fueled by increased investments in research and development by prominent companies. In Europe, the market was valued at USD 5.36 billion in 2019 and is projected to grow steadily in the coming years, supported by strong regional demand and advancements in fertilizer technology.
List of companies profiled in the report:
- SQM (Santiago, Chile)
- Nutrien Ltd. (Saskatoon, Canada)
- ICL (Tel-Aviv, Israel)
- Yara International (Oslo, Norway)
- Haifa Chemicals Limited (Haifa, Israel)
- The Mosaic Company (Florida, United States)
- EuroChem (Zug, Switzerland)
- Coromandel International Limited (Secunderabad, India)
- Qatar Fertilizer Company (Qatar)
- COMPO EXPERT (Munster, Germany)
Industry Development
s
January 2020: Gujarat Agro Industries Corporation (GAIC) announced plans to import water-soluble fertilizer (WSF) products from China to Ahmedabad. These products will be marketed under the agency’s innovative fertilizer brand, "AGRO," representing a new generation of solutions aimed at enhancing agricultural productivity.
