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Europe Water-Soluble Fertilizers Market Size is predicted to see lucrative gains over 2019-2025

Author : Ronak Bora | Published Date : 2019-07-04 

Europe water-soluble fertilizers market is expected to account for leading market share over the coming years. Rising product demand as an innovative agricultural technique will further fuel the regional demand. Necessity for efficient nutrients to ensure enhanced agricultural productivity & growth coupled with presence of well-established manufacturers will support business growth.

Asia Pacific water-soluble fertilizers market is expected to witness significant growth owing to high adoption of merchandise and micro irrigation systems particularly in India and China. Increasing adoption of fertigation and foliar spray among farmers to meet the rising food demand will further induce immense potential for product demand. High dependence on agriculture as economic source and employment will further propel water soluble fertilizers industry. As per analysis, agricultural sector accounted for over 15% of the Indian economy in 2016.

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However, relatively higher product costs than other substitutes may hamper water-soluble fertilizers market growth. Lack of consumer awareness regarding product benefits will further pose a challenge for market participants. Increasing threat of substitutes mainly including organic alternatives are among key restraining factors of product scope.

The market is segmented based on product as nitrogenous, micronutrients, phosphatic, and potassic water soluble fertilizers. Nitrogenous products are expected to dominate the market share over the forecast timeframe, due to its high convenience and ease in application. Effective crop growth, plant health maintenance along with sustainable benefits are among key driving factors of product demand. However, higher quantity requirement due to its high ratio in fertilizer mixture may restrain market growth.

Water-soluble fertilizers market is segmented based on application into foliar and fertigation. Fertigation segment is anticipated to capture maximum revenue share over the coming years. The high revenue generation can be attributed to its broad application scope in major nutrients. Moreover, it is highly preferred by the farmers due to its ease in application and competitive prices compared to its counterpart.

On the basis of crop, water-soluble fertilizers market is segmented as turf & ornamentals, field crops and horticulture crops. Horticulture crops are anticipated to observe rapid growth over the forecast timeframe. Rising demand for fruits & vegetables due to increasing awareness about health benefits will primarily drive the market growth. Government initiatives and promotions on enhancements in crop productivity will further propel the industry demand.

Water-Soluble Fertilizers Market size is anticipated to witness significant growth over forecast timeframe. Necessity for food security due to rapid population growth coupled with decreasing overall arable land globally are among key factors driving business growth. Considerable shift in farming practices along with positive outlook towards usage of technology & innovations to improve farm yield will propel the market growth.

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High application scope along with improved efficiency as compared to granular alternatives has enhanced the water-soluble fertilizers market share. Rising consumer awareness pertaining to organic food products will support market growth. Limited availability of arable lands, easy application, and rising environmental concerns across the globe are other factors fueling water soluble fertilizers demand.

Global water-soluble fertilizers market share is highly fragmented due to presence of large number of international and regional players operating in global as well as local market. Israel Chemical, Qatar Fertilizer, Agrium, Everris International, Yara International, Sinochem Fertilizer, Haifa Chemicals, Upstart Products, K+S AG, Compo GmbH and Mosaic Company are among key market players.

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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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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