July 19, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Water Soluble Fertilizers Market.
It was estimated prior to this unanticipated outbreak that the Water Soluble Fertilizers Market was expected to grow at a CAGR of 7.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Market Scope & Segmentation
Water Soluble Fertilizers are compound specialty fertilizers that can be entirely dissolved in water and are easy to add or leach out from the soil. These fertilizers surge the consumption rate as the incorporation of water and fertilizer saves water, fertilizer, and labor.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the form type, the market is segmented as dry and liquid. Dry water soluble fertilizers are estimated to witness strong growth rate in the market, during the forecast period, owing to their extensive usage in agriculture, horticulture, and gardening activities. These fertilizers are further categorized as granules and powder. The attributes of dry water soluble fertilizers, such as easy storage and prolonged shelf life are likely to fuel the product demand during the forecast period.
Based on the product type, the market is segmented nitrogenous, micronutrients, phosphatic, and potassium. The nitrogenous segment is expected to be the leading segment of the market over the forecast period. This growth of the segment is owing to its prevalent usage in oilseeds and grains plantation. On the other hand, the micronutrients segment is expected to grow at a faster pace than the other product types on account of the depletion of micronutrients from the soil over the past few years due to the growing usage of NPK fertilizers comprising lesser amounts of micronutrient impurities and high-yield crop demand. The growing demand for micronutrients will drive the segment growth over the forecast period.
Based on the mode of application type, the market is segmented as foliar and fertigation. The foliar segment is expected to be the leading mode of application during the forecast period, driven by the reason that it is an eco-friendly process that diminishes the discharge of nitrates and other elements into the environment, lessens water pollution, and upholds the soil productivity.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market for water soluble fertilizers during the forecast period. The region’s growth is owing to the growing demand from highly populated economies such as China, India, Pakistan, Vietnam, and Bangladesh. Additionally, investment inflows and subsidies from governments to the fertilizer industry are further expected to fuel the product adoption in the regional market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Water Soluble Fertilizers market are-
- Agafert Srl
- Coromandel International Limited
- Haifa Group
- Israel Chemical Ltd. (ICL)
- K+S AG
- Sinochem Corporation
- The Mosaic Company
- Yara International ASA.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Water Soluble Fertilizers analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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