Water Soluble Fertilizers Market to Grow at 5% CAGR
Rising
government initiatives to promote modern agricultural practices, increasing
food grain demand and growing adoption of micro irrigation technologies to
drive the global water soluble fertilizers market
According to TechSci Research
report “Global Water Soluble Fertilizers Market By Type, By Composition (Straight and Complex), By Grade (NPK, NP, PK and
Others), By Structure, By Application, By Crop, By Region, By Sales Channel,
Competition Forecast and Opportunities, 2011-2021”, the global water soluble fertilizers market is projected to grow at a CAGR of over 5%
during 2016-2021, on account of rising population, growing demand for food
grains, and rising concerns related to depleting ground water resources. Water
soluble fertilizers are also being extensively used in order to increase yield,
as they are easy to apply and require less amount of fertilizers and water
usage. Water soluble fertilizers dissolve faster, have a higher utilization
rate and are absorbed quickly as compared to conventional chemical fertilizers.
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Globally, demand for water
soluble fertilizers is surging due to rising need for increasing agricultural
output in order to address increasing global food requirements. Additionally, rising
investments by government and private players, increasing research &
development activities and new product developments are projected to steer growth
in global water soluble fertilizers market through 2021. Horticulture and
ornamental plants are the two major application areas for water soluble
fertilizers. With global fruit production increasing from 676.9 million tons in
2013 to over 720 million tons in 2015, water soluble fertilizers market is
expected to witnessing increasing consumption from the fruit production segment
as well over the next five years.
“In 2015, global
per capita food consumption was 2860 kcal/person/day, which is expected to increase
to 2960 kcal/person/day by 2030. Global demand for fertilizer nutrients was 191
million tonnes in 2015, which is expected to reach 194 million tonnes by 2016. With
increasing levels of per capita food consumption as well as fertilizer
nutrients, the global demand for water soluble fertilizers is forecast to grow
through 2021. In 2015, Europe dominated the global water soluble fertilizers
market, followed by North America; however, Asia-Pacific is forecast to witness
the fastest growth in demand for water soluble fertilizers over the next five
years.” said Mr. Karan Chechi, Research Director, with TechSci Research, a
research based global management consulting firm.
“Global Water Soluble Fertilizers Market By Type, By Composition (Straight and Complex), By Grade (NPK, NP, PK and Others), By Structure, By Application, By Crop, By Region, By Sales Channel, Competition Forecast and Opportunities, 2011-2021” has analysed the
potential of water soluble fertilizers market, provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the global water soluble fertilizers market.
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