The global water-soluble fertilizers market size is projected to reach USD 23.09 billion by 2026, exhibiting a CAGR of 6.28% during the forecast period.
Food security is one of the greatest challenges faced by the world today, underpinned by insufficient agricultural productivity and a steadily rising world population.The recent report from Fortune Business Insights™, titled “Water Soluble Fertilizers Market Size, Share & Industry Analysis, By Type (Nitrogenous, Phosphatic, Potassic, and Others), Application (Foliar and Fertigation), Crop Type (Field Crop, Horticulture, Turf & Ornamentals, and Others), and Regional Forecasts, 2019 – 2026”, states that the market value stood at $14.34 billion in 2018.The report additionally contains:Exhaustive analysis of the factors driving and restraining the market;Thorough research into the market segments;Comprehensive evaluation of the regional and competitive dynamics influencing the market; andDetailed study of the upcoming opportunities in the market.The World Bank estimates that the number of people in the world will reach 9.7 billion by 2050 and agriculture will play a central role in feeding this population.
Producing sufficient food will require the utilization of modern agricultural technologies and inputs such as water-soluble fertilizers.
Widespread adoption of WSFs will, thus, be one of the top water-soluble fertilizers market trends in the forthcoming decade.Assured Benefits of WSFs to Brighten Sales ProspectsWater-soluble fertilizers provide an optimal solution to increasing agricultural yield owing to the host of advantages offered by them.
For instance, WSFs are extremely convenient to use as they are available premixed with salts and can be simply sprayed with a hose on the plants.
This also makes them cost-effective and eliminates the additional cost of buying in bulk, a major hindrance with traditional fertilizers.