Global Nitrogenous Water Soluble Fertilizer Market Size 2024, Forecast To 2033
6 Mar, 2024
The nitrogenous water-soluble fertilizer market has demonstrated robust growth, increasing from $60.97 billion in 2023 to $65.53 billion in 2024, with a compound annual growth rate (CAGR) of 7.5%. This growth is driven by farmers' preferences and awareness, crop nutrient requirements, research and development, market competition, and crop yield and quality. Forecasts suggest continued strong growth, reaching $84.4 billion in 2028, with a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period is attributed to the growing population and food demand, environmental sustainability, precision agriculture adoption, climate change impact, and rising awareness and education. Major trends in the forecast period encompass market accessibility, customized fertilization programs, urban agriculture and greenhouses, hydroponics and soilless farming, and focus on crop nutrition.
Global Nitrogenous Water Soluble Fertilizer Market Key Driver
The increasing popularity of commercial agriculture is poised to drive the growth of the nitrogenous water-soluble fertilizer market in the future. Agriculture involves large-scale crop and livestock production for commercial purposes. Nitrogenous water-soluble fertilizers are commonly used in agricultural practices as part of nutrient management strategies, thereby boosting the nitrogenous water-soluble fertilizer market. For instance, as per GOV.UK's May 2022 data, total crop output income increased by $11,782 million in 2021, and total livestock output income rose by $17,626 million in the same year. Hence, the burgeoning popularity of commercial agriculture is propelling the growth of the nitrogenous water-soluble fertilizer market. In 2023, the nitrogenous water-soluble fertilizer market size was P, while in 2024, it reached Q, with a projected market size for 2028 set at R.
Get A Free Sample Of The Global Nitrogenous Water Soluble Fertilizer Market ReportGlobal Nitrogenous Water Soluble Fertilizer Market Segments
The nitrogenous water soluble fertilizer market covered in this report is segmented –
1) By Type: Macroelement WSF, Microelement WSF, Other Types
2) By Crop Type: Field Crops, Horticultural Crops, Turf And Ornamentals, Other Crop Types
3) By Form: Dry, Liquid
4) By Application: Foliar, Fertigation
By Geography:The regions covered in the nitrogenous water soluble fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Europe was the largest region in the nitrogenous water soluble fertilizer market in 2023. The regions covered in the nitrogenous water soluble fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Nitrogenous Water Soluble Fertilizer Industry Players
Israel Chemicals Ltd., Yara International ASA, K+S AG, Coromandel International Limited, Sociedad Química y Minera de Chile, The Mosaic Company, Nutrien Ltd., COMPO GmbH & Co. KG, EuroChem Group AG, BASF SE, Adama Agricultural Solutions Ltd., Uralchem Group, Nufarm Limited, Qatar Fertilizer Company, Haifa Group, Koch Fertilizer LLC, CF Industries Holdings Inc., Kugler Company, Turf Care Supply Corp., Bunge Limited, Tessenderlo Group, Sinofert Holdings Limited, Deepak Fertilizers and Petrochemicals Corporation Limited, Zuari Agro Chemicals Ltd., Rashtriya Chemicals & Fertilizers Ltd., Apache Corporation, Sinochem Corporation, Mears Fertilizer Inc., Gujarat State Fertilizers & Chemicals Ltd., Saudi Basic Industries Corporation, Brandt Consolidated Inc., Plant Food Company Inc., Greenfeed Agro Sdn Bhd, Wilbur-Ellis Company LLC, Shikefeng Chemical Industry Co. Ltd., Sapec Agro Business SA
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Nitrogenous Water Soluble Fertilizer Market Overview
Nitrogenous water-soluble fertilizer refers to a type of fertilizer that contains nitrogen in the form of water-soluble fertilizers, which can be dissolved in water and are applied directly to the plant by drip irrigation and foliar application to improve nutrient use efficiency. They have many advantages over traditional fertilizers, such as better yields and better availability of soil nutrients.
Nitrogenous Water Soluble Fertilizer Global Market Report 2023 provides data on the global nitrogenous water soluble fertilizer market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The nitrogenous water soluble fertilizer market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.