Global Water Soluble Fertilizers Market Size 2024, Forecast To 2033

The water-soluble fertilizers market has exhibited strong growth, escalating from $14.48 billion in 2023 to $15.26 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.4%. This growth in the historic period is attributed to increasing awareness of crop nutrient requirements, the rise in greenhouse and hydroponic cultivation, government initiatives and subsidies, the shift towards sustainable agriculture, and improved access to agricultural information. Looking forward, the market is poised for strong growth, reaching $19.16 billion in 2028, with a slightly higher CAGR of 5.8%. The forecast period will be characterized by factors such as rising global population and food demand, a focus on nutrient efficiency and crop yield, the expansion of controlled environment agriculture, and an emphasis on sustainable agriculture. Key trends in this period include the adoption of precision agriculture, technological advancements in formulations, an increased demand for high-quality crops, a growing emphasis on environmental sustainability, and a shift towards hydroponic and fertigation systems.