Water soluble fertilizers (WSF) are specialty fertilizers that can easily be dissolved in water. The high solubility of these compounds helps in fertigation, through which essential plant nutrients get absorbed at the root zone. Water soluble fertilizers market is predicted to expand steadily in the coming years, with rising need to cater to the swelling food demand.
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As per the OECD-FAO Agricultural Outlook, global demand for agricultural products is expected to rise by 15% up to 2028. The prevalence of malnutrition coupled with elevating food security challenges and population explosion in developing countries is creating an inevitable necessity to use high-quality fertilizers and produce nutrient-rich agriculture products.
According to Global Market Insights, Inc., analysis report, global water soluble fertilizers market size is forecast to surpass US$8.58 billion by 2026.
Horticulture applications and types of high-grade fertilizers
Water soluble fertilizers as a special grade of fertilizers hold a very strong promise in horticulture crop production. Horticulture involves plant conservation, soil management, propagation, and cultivation ad focus on enhancing the plant growth, yields, and nutritional levels. Water soluble fertilizers are adopted over granular and slow-release fertilizers.
Nitrogenous fertilizers are anticipated to witness notable market share in the coming years, owing to the crucial role in the increased production of conventional food system. Nitrogen is the most important nutrient for plant growth and crop productivity. It sees high consumption in the cultivation of oilseeds and pulse crops. Significant farming of pulse and oilseeds crops for their benefits to human health should escalate the utilization of nitrogen fertilizers.
Water soluble fertilizers industry share from foliar application segment should grow significantly, on account of their persistent utilization in high-value crops such as fruits, medicinal plants, herbs, and others. In foliar fertilization of crops, fertilizers are directly applied to leaves for specific and rapid response.
This type of fertilization is broadly applicable in agricultural fields with high chemical, physical, and biological complexities that act as barriers to crop growth. The need for eco-friendly fertilizers with a high amount of nutrients could encourage the adoption of foliar fertilization.
Flourishing agriculture sector in APAC
Asia Pacific water soluble fertilizers industry is predicted to see the highest revenue share globally by 2026. The expansion is majorly attributed to the adoption of high-quality fertilizers to scale up crop production and fulfill the consistently rising food demand from the ever-growing population bases in countries like India, China, and others. As per the India Brand Equity Foundation, food grain production in India was recorded at 296.65 million tons during 2019-2020.
The Mosaic Company, Haifa Group, Nutrien Ltd., K+S Aktiengesellschaft, Israel Chemical Ltd. (ICL), and Yara International ASA are among some major global producers of water soluble fertilizers. These prominent firms are leveraging technology to produce eco-friendly and high-grade products. Mergers and acquisitions are some other strategies adopted by these companies to gain a higher market position.
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As the agriculture sector across the globe has a major impact on the global economy, the growing emphasis of the governments worldwide to upgrade agriculture infrastructure and safer, efficient compounds should positively influence water soluble fertilizers industry outlook.
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