Pune, India -- (SBWIRE) -- 10/22/2020 -- The global water soluble fertilizers market is expected to gain impetus from the increasing demand for specialty fertilizers to improve the production of high-quality crops. This information is given by Fortune Business Insights™ in a recently published report, titled, "Water Soluble Fertilizers Market Size, Share & Industry Analysis, By Type (Nitrogenous, Phosphatic, Potassic, and Others), By Application (Foliar and Fertigation), By Crop Type (Field Crop, Horticulture, Turf & Ornamentals, and Others), and Regional Forecasts, 2019 – 2026). The report further states that the water soluble fertilizers market size was USD 14.34 billion in 2018 and is projected to reach USD 23.09 billion by 2026, exhibiting a CAGR of 6.28% during the forecast period (2019-2026).

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Fortune Business Insights™ lists out the names of all the water soluble fertilizers manufacturers operating in the global market. They are as follows:

SQM
Nutrien Ltd.
ICL
Yara International
Haifa Chemicals Limited
The Mosaic Company
EuroChem
Coromandel International
Qatar Fertilizer Company
COMPO EXPERT

This Report Answers the Following Questions:

What are the market dynamics, drivers, and obstacles?
Which company is set to dominate in terms of revenue?
How will the market be affected in the coming years?
Which segment is expected to lead the market?
Drivers & Restraints-

Rising Population across Developing Countries to Boost Growth

The demand for water soluble fertilizers is expected to surge in the coming years owing to the rapid growth of population in the developing economies worldwide. This has further raised concerns regarding the sufficiency of food available for the masses, as well as various food production solutions. Besides, the increasing cases of nutrient deficiency in crops and the reduction in arable land across several economies would contribute to the water soluble fertilizers market growth during the forthcoming years.

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Segment-

Horticulture Segment to Lead Backed by High Demand for Nutrition-rich Diet

Based on crop type, the market is divided into turf & ornamentals, horticulture, field crop, and others. Out of these, the field crop segment held 18.94% water soluble fertilizers market share in 2018. This growth is attributable to the rising demand for food owing to the increasing population. The horticulture segment is expected to lead the market backed by the high demand for nutrition-rich diets amongst the masses.

Regional Analysis-

Increasing Usage of Specialized Fertilizers to Favor Growth in Europe

Geographically, Europe generated USD 5.12 billion in terms of revenue in 2018. This growth is attributable to the rising usage of specialized fertilizers in countries, such as France, Spain, and Russia. Also, the increasing presence of water soluble fertilizers producers in this region, coupled with the changing climatic conditions would propel growth. Asia Pacific, on the other hand, is anticipated to showcase a higher CAGR in the near future owing to the increasing adoption of advanced technologies and crop nutrition products, especially in India and China. Limited supply of water and degrading land in this region are also expected to spur the demand for water soluble fertilizers.

Competitive Landscape-

Key Players Aim to Gain Competitive Edge by Launching Novel Water Soluble Fertilizers

The global market consists of several companies that are currently trying to develop state-of-the-art water soluble fertilizers to gain a competitive edge. They are also engaging in mergers and acquisitions to strengthen their positions. Below are two of the key industry developments:

January 2020: Gujarat Agro Industries Corporation (GAIC) introduced its latest imported water soluble fertilizers in Ahmedabad. It will be marketed and distributed under the company's new brand named 'Agro.'
January 2018: Potash Corporation and Agrium Inc. successfully merged to develop a new company called Nutrien Ltd. It will help in strengthening their positions in the global market and provide customers with unique and high-tech agricultural solutions and products.

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