Global Water Soluble NPK Fertilizers Market Analysis 2024 – Estimated Market Size And Key Drivers

The Water Soluble NPK Fertilizers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Water Soluble NPK Fertilizers Global Market Report 2024, 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, bio stimulants 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.

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.

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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

Top Major Players:

• Haifa Chemicals Ltd.
• Yara International ASA
• Arab Potash Company
• OMEX Agricultural Holdings Limited
• Acron Group

Europe was the largest region in the water soluble NPK fertilizers market share in 2023.

The adoption of advanced technology is a key trend gaining popularity in the water-soluble NPK fertilizers market. Major market players are concentrating their efforts on incorporating innovative technologies in their fertilizers offering better root growth as well as disease resistance and sustaining their position in the market. For instance, in September 2021, Coromandel International Limited, an India-based chemical manufacturing company, launched GroShakti Plus fertilizer based on EnPhos Technology. Because of the robust plant development and improved disease resistance, this technology provides better root development, faster growth, and higher-quality yields. This fertilizer has all major NPK nutrients with the maximum nutrient content among complex fertilizers making it a great product for farmers.

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
……..
26. Global Water Soluble NPK Fertilizers Market Competitive Benchmarking
27. Global Water Soluble NPK Fertilizers Market Competitive Dashboard
28. Key Mergers And Acquisitions In The Water Soluble NPK Fertilizers Market
29. Water Soluble NPK Fertilizers Market Future Outlook and Potential Analysis
30. Appendix

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