Based on current demand and forecasted consumption, the global water-soluble fertilizer market is estimated to reach $14,143.7 million by 2017. This market is predicted to grow at a compound annual growth rate of 5.6% from 2012 to 2017. These forecasts are based on research from the Water-Soluble Fertilizers Market Global Trends and Forecasts to 2017 Report. The market revenue is calculated on the basis of major regions such as North America, Europe, Asia-Pacific, and the rest of the World.
A water-soluble fertilizer is a compound that easily dissolves in water and provides essential nutrient uptake to crops. One of the key positive attributes of water-soluble fertilizer is its high absorption rate. It does this without leaving behind any chemical residue that may cause pollution.
The market for water-soluble fertilizers is driven by the advantages, which include easy application, uniform distribution of nutrients to the crops and lower manpower costs. Other positive factors include increasing adoption of micro-irrigation systems and wider applications in greenhouses. One of the key restricting factors for water-soluble fertilizers is the high product cost. Growth is particularly high in emerging countries such as China, India, Israel, and Brazil because of increasing awareness levels on increasing yield, ease of application, and high efficiency of water soluble fertilizers which result in high-quality produce.
The report categorizes the global market for water-soluble fertilizers on the basis of types (nitrogen, phosphorus, potash and micronutrients), applications (fertigation and foliar), crop types (field, horticultural, turf and ornamentals) and geography.