Overview and Scope
Water-soluble NPK fertilizers are fertilizers made from a combination of rich nitrogen, phosphorus, and potassium ingredients that are highly effective, quick-acting, and exceptionally helpful for improving the quality and output of all field and cash crops, as well as horticulture.
Sizing and Forecast
The water soluble npk fertilizers market size has grown strongly in recent years. It will grow from $12.81 billion in 2023 to $13.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to agricultural intensification, global population growth, shift towards commercial farming, demand for high-value crops, environmental regulations, increase in horticulture and floriculture, government subsidies and incentives, growing awareness of crop nutrition, climate variability and crop resilience..
The water soluble npk fertilizers market size is expected to see strong growth in the next few years. It will grow to $17.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising global food demand, climate-smart agriculture practices, increasing trend of soilless cultivation, biostimulants and micronutrient incorporation, economic growth and farming practices, focus on crop-specific nutrient management.. Major trends in the forecast period include hydroponic and soilless farming, customized nutrient formulations, digital agriculture and farm management, integration of micronutrients, technological advancements in fertilizer manufacturing, precision agriculture technologies, specialty crop cultivation..
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Segmentation & Regional Insights
The water soluble npk fertilizers market covered in this report is segmented –
1) By Crop Type: Field Crops, Horticultural Crops, Ornamentals, Other Crop Types
2) By Application: Foliar, Fertigation
Europe was the largest region in the water soluble NPK fertilizers market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the water soluble npk fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising demand for horticulture crops is expected to propel the growth of the water-soluble NPK fertilizer market going forward. Horticulture crops refer to plant crops that typically include fruits, vegetables, and ornamental plants. Rising cultivation of horticulture crops will result in increased use of water-soluble NPK fertilizers due to their water solubility and nutritional benefits enabling better plant growth and productivity. For instance, according to the estimates published in July 2022 by the Indian Department of Agriculture and Farmers Welfare, an agency responsible for agriculture and farmers’ welfare in the country, in India, the total horticulture output was anticipated to reach 341.63 million tons in 2021–22, up roughly 7.03 million tons (or 2.1% increase) from 2020–21. Therefore, the rising demand for horticulture crops is expected to drive the growth of the water-soluble NPK fertilizers market.
Key Industry Players
Major companies operating in the water soluble npk fertilizers market report are Haifa Chemicals Ltd., Yara International ASA, Arab Potash Company, OMEX Agricultural Holdings Limited, Acron Group, Coromandel International Limited, EuroChem Group AG, Hebei Monband Water Soluble Fertilizer Co. Ltd., Indian Farmers Fertiliser Cooperative Limited, ICL Group Ltd., K+S Aktiengesellschaft AG, PhosAgro PJSC, Uralchem Integrated Chemicals Company, Grupa Azoty S.A., Chambal Fertilisers and Chemicals Ltd., Deepak Fertilisers and Petrochemicals Corporation Limited, Nutrien Ltd., Iowa Fertilizer Company, Qatar Fertiliser Company, Israel Chemical Limited, Sociedad Quimica Y Minera SA, BMS Micro-Nutrients NV, Compo Expert, Nutrien Limited, The Mosaic Company, Gujarat Aksha Fertilizer Company, Tanvi Bio Chemical Pvt Ltd., Volkschem Crop Science Pvt Ltd., Antares Chem Private Limited, Ram Shree Chemicals
The water soluble npk fertilizers market report table of contents includes:
1. Executive Summary
2. Water Soluble NPK Fertilizers Market Characteristics
3. Water Soluble NPK Fertilizers Market Trends And Strategies
4. Water Soluble NPK Fertilizers Market – Macro Economic Scenario
5. Global Water Soluble NPK Fertilizers Market Size and Growth
….
31. Water Soluble NPK Fertilizers Market Other Major And Innovative Companies
32. Global Water Soluble NPK Fertilizers Market Competitive Benchmarking
33. Global Water Soluble NPK Fertilizers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Water Soluble NPK Fertilizers Market
35. Water Soluble NPK Fertilizers Market Future Outlook and Potential Analysis
36. Appendix
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