San Francisco, 17
September 2018: The global water soluble fertilizers market is expected to reach USD 22.0 billion by 2024,
according to a new report by Grand View Research, Inc. Rising demand for the
product as they improve crop quality and increases crop production output
significantly will augment market growth over the forecast period. Increasing
crop production in countries including China, India, the U.S., Indonesia,
Brazil, Japan and Mexico on account of growing population will drive industry
size over the next eight years. Decreasing availability of arable land is
expected to fuel the product demand over the forecast period.
Horticultural crops are
projected to show significant revenue gains at a CAGR of 6.8% from 2016 to 2024
owing to rising consumption of fruits, vegetables, spices and medicinal plants.
Moreover, rapid economic development, government support, advancements in
fertilizer manufacturing is anticipated to propel market demand.
Access Research Report
of Water Soluble
Fertilizers Market @ www.grandviewresearch.com/industry-analysis/water-soluble-fertilizer-market
Further key findings from the report suggest:
· Foliar accounted for 30.4% of the overall
volume and will show steady growth in light of rising application in various
fruits & vegetables including tomatoes, beans, and melons. However, high
cost as compared to fertigation will pose a challenge to its growth.
· Europe accounted for 37.6% of the overall
revenue share in 2015 and is expected to witness significant gains in light of
rising food security concern owing to growing population along with high export
demand for food products including wheat and cereals from Germany, France,
Italy and UK. Moreover, the presence of key participants including Yara
International, Bunge Ltd., Agrium, Eurochem, Potash Corp, and CF Industries
will promote industry growth.
· Latin America will witness substantial
revenue rise at a CAGR of 7.2% from 2016 to 2024 on account of the presence of
various major participants including The Mosaic Company, Potash Corp, and Haifa
Chemicals. Development of agricultural policies and government schemes to
promote micro irrigation systems, which dispenses water soluble fertilizers
will augment industry size.
· Water soluble fertilizers industry is
dominated by major participants including Agrium Inc., Potash Corp, Israel
Chemicals Limited, The Mosaic Company, K+S AG, and Yara International ASA.
Ongoing product innovation to produce efficient and cost-effective fertilizers
is expected to lead to industry expansion over the next eight years.
· In April 2016, Yara International expanded
the Rio Grande fertilizer plant capacity in Brazil to create one of the most
modern fertilizer sites. In December 2015, Yara International acquired
Greenbelt Fertilizers to expand the fertilizer business in Zambia and
surrounding areas that were experiencing fast agricultural growth. In March
2015, Israel Chemicals planned to build a potassium nitrate production plant to
meet growing demand for soluble specialty fertilizers.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has
segmented the global water soluble fertilizers market on the basis of product,
crop type, application, and region:
Water Soluble Fertilizers Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
Nitrogenous
·
Phosphatic
·
Potassium
·
Micronutrients
·
Secondary nutrients
Water Soluble Fertilizers Crop Type Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
Field
·
Horticultural
·
Plantation
·
Turf & ornamental
Water Soluble Fertilizers Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Fertigation
·
Foliar
Water Soluble Fertilizers Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Mexico
o
Canada
·
Europe
o
Germany
o
UK
o
Italy
o
Russia
o
Spain
o
Ukraine
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
o
Malaysia
·
Latin America
o
Brazil
·
MEA
o
South Africa
Access Press Release of
Water Soluble Fertilizers Market@ www.grandviewresearch.com/press-release/global-water-soluble-fertilizer-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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