WATER SOLUBLE NPK FERTILIZERS MARKET ANALYSIS

Market Challenges And Opportunities

Global Water Soluble NPK Fertilizers Market - Drivers

The increasing demand for water soluble NPK fertilizers due to high nutritional content

The rising global population and growing industrialization have led to limited availability of arable land. Moreover, the increasing population is driving demand for food. In order to meet the rising demand from the population, the amount of crop produced should be adequate. The positive outlook of farmers towards the use of technology and new products to maximize yield is also an important factor responsible for increasing demand for water soluble NPK fertilizers.

Global Water Soluble NPK Fertilizers Market - Restraints

Instability and hazardous nature of water soluble NPK fertilizers

Increasing growth of organic agricultural practices across the world coupled with regional government initiatives to promote organic farming are creating negative environment for the water soluble NPK fertilizers market growth. For instance, according to the Research Institute of Organic Agriculture (FiBL) report. The regions with the largest areas of organic agricultural land include Oceania (22.8 million hectares, which is almost 45% of the world’s organic agricultural land) and Europe (12.7 million hectares, 25%). Moreover, in July 2020, Chhattisgarh Government (State in India) launched the Godhan Nyay Scheme to promote rural livelihoods along with organic farming. The scheme aims at increasing the income of farmers & cattle ranchers, promoting organic compost, reducing chemical fertilizer usage, and improve soli health.

Global Water Soluble NPK Fertilizers Market - Opportunities

The rising new opportunities

The rising new opportunities are elevating the demand of the market. The concern and awareness of fertilizers as nutrition deficiency correctors and the rising popularity of fertilizers due to their proper nutritional value are setting wide opportunities for the market.

Ease of Application

Fertiliser that can dissolve in water and is easily absorbed by plants is referred to as water-soluble fertilizer. When compared to standard chemical fertilizers, its uptake and utilization severely water-scarce regions, large-scale farms, and high-quality, high-valued cash crops; during irrigation, the fertilizer is dissolved in the water, i.e., the integration of water and fertilizer.