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Water Soluble Fertilizer Market Size

Report ID: GMI2323
Published Date: Mar 2023
Report Format: PDF

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Water Soluble Fertilizer Market Size

Water Soluble Fertilizer Market size was valued at USD 14.5 billion in 2022 and is estimated to exhibit around 5% CAGR from 2023 to 2032. The increasing adoption of precision farming techniques, which require frequent and precise application of fertilizers, is also expected to drive market growth.

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The market may; however, face challenges such as high costs of water-soluble fertilizers, limited access to advanced irrigation systems in developing countries, and the lack of awareness about the benefits of such fertilizers in certain regions.

In terms of region, Asia Pacific is expected to dominate the market due to the growing population, rising food demand, and growing use of water-soluble fertilizers in the region. North America and Europe are also expected to showcase significant market growth due to the presence of advanced agricultural practices and the increasing adoption of precision farming.

Water Soluble Fertilizer Market Report Attributes
Report Attribute	Details
Base Year:	2022
Water Soluble Fertilizer Market Size in 2022:	USD 14.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 19.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	619
Tables, Charts & Figures:	840
Segments covered:	Form, Product, Mode of Application, Crops, and Region
Growth Drivers:	Emerging demand for water-soluble fertilizers Rising global food demand Positive outlook for the horticulture sector
Pitfalls & Challenges:	Increasing uncertainties and significant policy focus on the environment Lack of awareness about the optimum usage of fertilizers

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Many companies are focusing on expanding their product portfolios by launching new water-soluble fertilizers. They are also focusing on strategic partnerships and collaborations to expand their market presence and strengthen their distribution networks. Some companies are also investing in R&D to develop innovative water-soluble fertilizers with improved efficiency and cost-effectiveness.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market for water soluble fertilizer revenue reached USD 14.5 billion in 2022 and is poised to grow at nearly 5% CAGR between 2023-2032 owing to increasing world population and rising food demand.

Fertigation mode segment surpassed USD 10 billion in 2022 and is anticipated to exhibit about 4.8% CAGR from 2023-2032 as by using this method growers can complete fertilization & watering activities at once, saving time and efforts.

Dry form water-soluble fertilizer market size is expected to grow at more than 5.1% CAGR from 2023-2032 as they provide plants with the particular nutrients they need to grow.

Asia Pacific accounted for more than 45% of water-soluble fertilizers industry share owing to the rising demand for horticultural crops such as fruits and vegetables.