NEW YORK, Oct. 13, 2016 /PRNewswire/ -- "Global water-soluble fertilizers market projected to grow at a CAGR of 5.69%"
The global water-soluble fertilizers market is projected to reach a value of USD 17.06 billion by 2022, growing at a CAGR of 5.69% from 2016. The market is driven by factors such as growth in the crop production, ease of application, increase in need for food security for the increasing population, and rise in preference for water-soluble fertilizers. The change in farming practices (from traditional to conventional), clubbed with advanced technologies and promotion by the governments of many countries across the world also drives the demand for water-soluble fertilizers in the agricultural sector. Factors such as growth of organic fertilizer industry and high cost of water-soluble fertilizer leading to the rise in agricultural cost of production are restraining the growth of the market.
"Nitrogenous segment accounted for the largest market share in 2015 among the types of water-soluble fertilizers"
On the basis of type, water-soluble fertilizers have been segmented into nitrogenous, phosphatic, potassic, and micronutrients. Among these, the nitrogenous segment accounted for the largest market share in 2015, followed by the phosphatic and potassic segments, respectively. Nitrogenous water-soluble fertilizers are largely used for horticultural crops, for healthy crop growth.
"Fertigation segment led the market with the largest share in 2015"
On the basis of mode of application, the water-soluble fertilizers market has been segmented into foliar and fertigation. The market was led by fertigation followed by foliar. Fertigation is largely used by farmers because of its high efficiency and ease of application.
"Europe dominated the market with the largest share, whereas Asia-Pacific growing at the highest CAGR"
Europe formed the largest market for water-soluble fertilizers in 2015, whereas North America accounted for the second-largest market share in 2015. Extensive R&D activities in the European region have helped in the introduction of customized and crop-specific products, which in turn led to the growth of water-soluble fertilizers market. The global water-soluble fertilizers market has been segmented region-wise, with a detailed analysis of each region by studying the key markets.
These regions include North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific region is projected to be the fastest growing market for the next six years, owing to the development of agricultural sector and growth in demand for food.
Breakdown of profiles of primary participants is as follows:
- By Company Type: Tier 1 – 30 %, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: Directors – 22%, C level – 28%, and Manager level – 50%
- By Region: North America – 35%, Europe – 23%, Asia-Pacific – 32%, and RoW – 10%
Key players identified in the water-soluble fertilizers market include K+S AKTIENGESELLSCHAFT (Germany), Yara International ASA (Norway), Agrium Inc. (Canada), Israel Chemical Limited (Israel), and Sociedad Quimica YMinera SA (SQM) (Chile), Haifa Chemicals Limited. (Israel), COMPO GmbH & Co. KG (Germany), Coromandel International Limited (India), The Mosaic Company (U.S.), and Hebei Monband Water Soluble Fertilizer Co., Ltd. (China).
- This study estimates the global market of water-soluble fertilizers, in terms of dollar value, till 2022, segmented on the basis of type, crop type, and mode of application
- It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and preferred development strategies such as agreements, expansions, mergers, and acquisitions to gain a larger share in the market
- It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market
- It covers various important aspects of the market. These include analysis of the value chain, Porter's Five Forces model, competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the water-soluble fertilizers market
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the water-soluble fertilizers market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on water-soluble fertilizers offered by the top players in the global water-soluble fertilizers market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the water-soluble fertilizers market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for water-soluble fertilizers across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global water-soluble fertilizers market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global water-soluble fertilizers market
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