The global water soluble NPK fertilizers market is expected to exhibit a CAGR of 7.2% during the forecast period, owing to limited availability of arable lands. The forest areas have been turned into arable croplands to satisfy the demand of increasing population, which is directly associated to rapid urbanization of developing cities, large scale industrialization, and high energy demand.
Market Dynamics
The previously arable lands have lost their fertility due to global climatic changes and exploitive farming methods. Moreover, the United Nations Food and Agriculture Organization (FAO) has estimated that emerging economies including China and India will require an excess of 120 million hectares of farmlands by 2030 to cater to food needs of their increasing population. Furthermore, in order to solve the demand for food, water-soluble NPK fertilizers would act as a key solution in helping farmers for maximizing their yield sustainably, accelerating the maturity of crops, and also maintaining the overall health of the plants, despite desertification of farmlands and degradation of soil quality.
Among regions, Asia Pacific is expected to be the fastest-growing region during the forecast period (2020-2027). Investment inflows and subsidies from governments to the fertilizer industry are expected to increase product penetration in the region. For instance, the Government of India increased fertilizer subsidy allocation from US$ 9.83 million in 2018 to over US$ 11 million in 2019.
Key features of the study:
- This report provides in-depth analysis of water soluble NPK fertilizers market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023-2030 considering 2022 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global water soluble NPK fertilizers market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Acron Group, Arab Potash Company, Compo Expert GmbH, Coromandel International Limited, Eurochem Group, Haifa Chemicals Ltd., Hebei Monband Water Soluble Fertilizer Co. Ltd., Indian Farmers Fertiliser Cooperative Limited, Israel Chemicals Limited, K+S Aktiegesellschaft, OMEX, PhosAgro Group, PT Petrokimia Gresik, Sichuan Guoguang Agrochemical, SQM S.A., The Mosaic Company, Uralchem Group, and Yara International ASA
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology upgradation, market expansion, and marketing tactics
- The global water soluble NPK fertilizers market report caters to various stakeholders in this industry including investors, suppliers, water soluble NPK fertilizers manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global water soluble NPK fertilizers market
Detailed Segmentation:
- Global Water Soluble NPK Fertilizers Market, By Crop Type:
- Field Crops
- Horticultural Crops
- Ornamentals
- Others
- Global Water Soluble NPK Fertilizers Market, By Application:
- Global Water Soluble NPK Fertilizers Market, By Region:
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- North Africa
- Central Africa
- South Africa
- Company Profiles
- Acron Group
- Arab Potash Company
- Compo Expert GmbH
- Coromandel International Limited
- Eurochem Group
- Haifa Chemicals Ltd.
- Hebei Monband Water Soluble Fertilizer Co. Ltd.
- Indian Farmers Fertiliser Cooperative Limited
- Israel Chemicals Limited
- K+S Aktiegesellschaft
- OMEX
- PhosAgro Group
- PT Petrokimia Gresik
- Sichuan Guoguang Agrochemical
- SQM S.A.
- The Mosaic Company
- Uralchem Group
- Yara International ASA
