Global Water-Soluble Fertilizers Market Outlook

According to the MRFR analysis, the global Water-Soluble Fertilizers market size is projected to reach USD 37,144.16  million by 2032 at a CAGR of 7.2%. Water soluble fertilizers are those that are completely soluble in water and are applied using foliar spray and fertilization techniques, allowing the nutrients to be quickly absorbed and utilized by the plant system without being lost to evaporation, leaching, or runoff. Moreover, in addition to being rich in active organic matter like amino acids and humic acid, water-soluble fertilizer also contains chelated trace elements like iron, manganese, zinc, copper, calcium, magnesium, boron, and molybdenum. In addition, water-soluble fertilizer also contains a significant amount of elemental nitrogen, phosphorus, and potassium (regulating soil compaction)

Water soluble fertilizers are fertilizers that are dissolved in water and administered directly to the plant by drip irrigation and foliar application in order to improve nutrient utilization efficiency. Moreover, the three crucial plant macronutrients—nitrogen (N), phosphorus (P), and potassium, forms the basis of water-soluble fertilizers (K). The three elements N, P, and K are the main components of water-soluble fertilizers out of the total of sixteen elements required to sustain plant life. N, P, and K are regarded as mobile nutrients when applied foliarly they will travel up and down from the place of uptake and are transferred out of the leaves to growing areas with higher demands (i.e., buds, younger leaves, growing roots). Furthermore, compared to other irrigation methods like furrow irrigation or spray irrigation, the use of drip irrigation dramatically lowers nitrous oxide (N2O) emissions. Foliar application, which applies liquid fertilizer to the leaves rather than the soil, is a targeted strategy since nutrients are provided directly to plant tissues at crucial growth stages.

Segmentation

By Product Type

Nitrogenous: Nitrogenous Fertilizers are mineral and organic materials which are utilized to provide plants with nitrogen nourishment. They are broken down into three categories: urea, ammonium nitrate and calcium nitrate. Moreover, nitrogenous fertilizers are utilized as a primary fertilizer and supplemental feeding. In addition, this type of fertilizer helps soil maintain carbon, which further helps to retain water and ultimately reduces runoff and improves downstream water quality. Besides this, the growing population has increased the demand for a large number of crop production of fruits, and vegetables which has ultimately increased the demand of nitrogenous fertilizer owing to its ability to nourish the soil and lead to better yield of crops.

Micronutrients: Micronutrients are fertilizers that are only needed in very small amounts, yet they are essential for a variety of plant growth and development activities, including assisting in protein synthesis, flowering, fruiting, and other processes. It is crucial to add micronutrients to the soil to replenish the nutritional content since the crop can suffer from the loss of micronutrients. Moreover, micronutrients encourage vital plant functions and growth, which results in nutrient-dense food for both animals and people. For growing crops, micronutrients like boron, chlorine, copper, iron, manganese, molybdenum, and zinc are frequently in low supply. Besides this, the recent strategies adopted by major players to expand their product portfolio and better serve customers is likely to propel its market growth.

Phosphatic: These fertilizers include phosphorus in a form that is rapidly assimilated by young plants and is readily available in neutral soils. While in alkaline and calcareous soils, water-soluble phosphorous is transformed into insoluble calcium phosphate, soils with free iron and aluminum hydroxy phosphates do not. Moreover, the various benefits possessed by phosphatic are some of the key factors for its adoption by farmers which is a vital factor in boosting its market growth. For example, phosphatic promotes root growth and improves plant resilience such phosphorus strengthens plants for the winter and increases their resistance to disease. Besides this, the presence of major players across the region providing phosphatic is set to positively influence its market growth. For example, Indorama Corporation, provides phosphate rock which is used to make phosphate fertilizers. Sedimentary and marine phosphate rock deposits provide over two-thirds of the world's phosphate resources.

Potassium: Potassium is one of the essential nutrients in commercial fertilizers. It has a significant function in boosting agricultural yields and improving crop quality overall while aiding in strengthening plants' disease resistance. Additionally, potassium shields the plant from harm during cold or dry spells by bolstering its root system and preventing wilting. Moreover, to continually increase agricultural output, it is imperative to consume adequate potassium. The main function of potassium in a plant is in the relationships between the plant, soil, air, and water. It also activates several enzymes and helps transfer carbon from plant tissue to reproductive material (grain, fruit, and fiber). The plant becomes more vulnerable to various stresses, such as water shortage, insect pressure, and pathogen pressure, as a result of inadequate potassium feeding.

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By Field Type

Fields: A field is used to cultivate crops or other valuable plant species. This land is heavily managed and frequently supplied with synthetic nutrients (i.e., fertilized). In an agricultural field, only one plant species is typically planted at a time, and other management techniques are used to prevent the spread of weeds and pests. Field crops usually include maize, sorghum, soyabeans, wheat, barley, cotton, potatoes, sugar beets, sugarcane, hay, pasture and many more. Moreover, the growing production of maize owing to its wide usage in various food items has increased the demand of various types of water-soluble fertilizers such as nitrogen, potassium and many more which helps keeps the plant green and healthy for photosynthesis which in turn is contributing to its market growth.

Horticulture Crops: Horticultural crops are utilized to improve the living environment and diversify human meals. Examples of horticultural crops include fruits, vegetables, flowers, ornamentals, and lawn grasses. These crops are often grown on a smaller scale and with more intensive management than agronomic crops. Some horticultural plants are raised for their aesthetic appeal and recreational purposes. Besides this, the growing government investment in order to boost the horticulture sector is likely to increase the demand as well as sales of water-soluble fertilizers in the upcoming years which in turn would boost its market growth. For instance, in October 2022, The Environment Secretary announced a further USD 15.04 million investment in automation and robotics through the Farming Innovation Programme, in addition to the more than USD 84.25 million already spent on industry-led research and development.

By Application

Fertigation: Fertigation is the process of applying fertilizers or nutrients through an irrigation system to an agricultural system. The nutrient inputs are dissolved in water and then immediately absorbed by plants when they take up water. Farmers in ancient Rome actually used sewage to water their crops, but the name has changed greatly since then. It is a combination of the terms "fertilizer" and "irrigation," and it has been around as a concept for hundreds of years. Moreover, sprinkler, drip, and soaker irrigation systems are just a few of the irrigation techniques that can be utilized in conjunction with fertigation, but drip irrigation is the most advantageous and compatible. Fertigation is thought to be the most exact and regulated way to apply fertilizer when compared to band or broadcast approaches, and it often requires less fertilizer overall than other methods. Fertigation is also frequently used in soilless or hydroponic growth systems because it is by far the simplest method for giving plants in these environments the precise nourishment they require.

Foliar: Foliar is a chemical or natural substance that is applied directly to the leaves of a plant to enhance fertility and health. For quicker results, the plant gets the essential nutrients in this way through its leaves. Direct fertilizer application to leaves improves leaf activity, which directly affects the plant's water uptake and promotes root growth. Foliar can therefore hasten the uptake of nutrients from the soil, which is advantageous for plants that need prompt nutrient intervention. Moreover, the composition of foliar can vary depending on the type of product chosen and its intended use; these products are frequently created for different families of plants to address specific nutritional deficits. An individual must follow the manufacturer's instructions before using the product and always try it on one or two plants before spraying throughout the entire garden because typically, the fertilizer made for one species won't be acceptable for another. Apart from this, foliar offers a wide range of benefits owing to which it is widely used in agriculture purpose.

By Region

North America: The North American region includes major markets such as the US, Canada, and Mexico. The growing production of various types of fertilizer across the region such as potassium, ammonia, nitrogen and many more is set to positively influence its market growth. For instance, according to the International Fertilizer Association in 2020, ammonia was manufactured in the United States in 36 domestic plants, and it was transported throughout the nation by pipeline, rail, barge, and truck. The United States produced 11.6% of the world's nitrogen in 2018, placing it second behind China, which produced 24.6% of it, and ahead of India, the third-largest producer with 11.3% of the world's supply. In terms of phosphate output, the U.S. came in second place with 9.9% of worldwide production, below China (37.7%), but ahead of India (9.8%), which generated 9.8% of the world's supply. Canada produced the most potassium potash, accounting for 31.9% of the world's supply. Belarus comes in second place, producing 16.5% of the world's supply. In addition, the U.S. ranks seventh with a share of roughly 4.6% in nitrogen exports.

Europe: Europe basically includes the UK, Germany, France, Italy, Spain, and Rest of the Europe are all included in the analysis of the European market. Europe continues to hold a significant share in the global Water-Soluble Fertilizer market, owing to the presence of major players in the region coupled with the various strategies adopted by them to expand its product portfolio. For instance, in February 2022, EuroChem Group a leading worldwide fertilizer manufacturer announced that, after the submission of a legally binding bid, it has entered into an exclusive agreement to acquire the nitrogen business of the Borealis group. In the centre of significant crop-producing regions in Austria and France, Borealis runs fertilizer production facilities. Borealis is one of Europe's top fertilizer manufacturers, supplying roughly four million tonnes of products annually in Western, Central, and South East Europe through the Borealis L.A.T distribution network, including approximately 0.08 million tonnes of technical nitrogen solutions and approximately 0.15 million tonnes of melamine. Apart from this, the recent government policies regarding fertilizer are expected to positively influence its market growth.

Asia-Pacific: Asia-Pacific is the most populated region in the world, consisting of some of the major economies, including China, India, Japan and others. The growing innovations by major players operating in the region are likely to create huge opportunities for its market growth. For instance, in October 2020, Gujarat State Fertilizer and Chemicals India Ltd launched calcium nitrate and boronated calcium nitrate. In agriculture, calcium nitrate is used as a water-soluble fertilizer. Additionally, this chemical is utilized to strengthen cement concrete as well as for wastewater treatment. Furthermore, in July 2018, Transworld Furtichem Pvt. Ltd, a significant fertilizer manufacturer in India, and Compo Expert Gmbh, a leading producer of specialty fertilizers for commercial use and a portfolio company of the international private equity firm XIO Group with its London headquarters, have agreed to a strategic partnership.

Rest of the World: The rest of the world includes South America, the Middle East, and Africa, will witness moderate growth in the Water-Soluble Fertilizer market in the upcoming years. This is mainly owing to the availability of large number of fields for agriculture purpose across the region. For instance, according to MRFR analysis, Brazil's planted area for agricultural output grew to 86.7 million hectares in 2021, the most over the previous ten years. This marked an increase of nearly 27% from 2011 figures. Besides this, the recent strategies adopted by the government bodies operating in the region to strengthen the agriculture sector is likely to boost its market growth. For instance, in September 2019, through the signing of a thorough Memorandum of Understanding, the African Union Commission, AUDA-NEPAD, the African Union's Development Agency, and OCP Group, a major global fertilizer manufacturer, are pleased to strengthen their partnership to support the growth of the African Agricultural Sector (MoU).

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