Traditional commodity nutrients are fast taken over by other low-volume yet high-value products. Fertilizers market across the globe shows higher impact of several alternatives to the conventional fertilizers. Water-soluble fertilizers are highly used in for their high-value results. The market for these fertilizers is aspiring to grow at the compound annual growth rate or CAGR. This very fact creates numerous opportunities for growth and business expansion. Global water-soluble fertilizers market is witnessing steady growth rate. Considering the increase in the demand of high quality agriculture products, this demand is likely to increase in the near future. It also means that the businesses providing excellent quality Water Soluble Fertilizers Market will also maintain steady growth rate.
Opportunities and Threats in Water Soluble Fertilizer Market
Fertilizer market has intricate segmentation, which is based on their types, crop types, applications and geographical ratio of production, demand and supply. Water-soluble fertilizers have four major types, namely micronutrient, nitrogenous, potassic and phosphatic. All these four types have proved their advantages over various harmful chemical fertilizers that compromise the quality of the crop as well as soil on the long run.
Fertigation and foliar applications are the basic application methods for these fertilizers. The current market is led by fertigation application, while the foliar application has just started being introduced. The major drivers of this market include popularity of the micro irrigation systems, government subsidies for eco-friendly fertilization of crops, increasing number of greenhouses and effectiveness of these fertilizers.
These fertilizers have faster absorption rate, which means they get quickly absorbed into the soil. As a result, they prove cost effective in comparison with many of their counterparts. These fertilizers are cost effective in many ways. Considering the high absorption rate and crop quality, they reduce the purchase cost. With their easy application techniques, they also reduce labor costs. Horticultural, turf, field and ornamental crops can gain special benefits from these fertilizers.
Nitrogenous fertilizers were the market leaders in 2011, which was followed by phosphatic and potassic water-soluble fertilizers. Since past few years, the degree of worldwide acceptance of other eco-friendly fertilizers has increased. This fact has contributed to the diversion and expansion of the water-soluble fertilizer market. Micronutrients, biofertilizers and biostimulants are these fertilizers gaining popularity on global platform.
Market analysis also shows that Asia Pacific is the major area for future growth and expansion of this business. The growth trends in this market are highly positive for the new business owners and the businesses looking for expansion.
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