Description

The global water soluble fertilizer market size valued at USD15.82 billion in 2020 and expected to reach USD 20.32 billion by 2027, at a CAGR of 4.2% during forecast period 2021-2027. Fertilizers are the substances added to the crops for increasing the yield of the products. Water soluble fertilizers are the fertilizers which are easily dissolved in the water and its absorption and utilization high compared to other chemical fertilizers. The major advantages with water soluble fertilizers are a rapid impact, possibility to supply of a fixed amount of nutrients to the crops, ease of application which reduces the labour cost, and reduce the groundwater contamination. These fertilizers are supplied through fertigation by mixing suitable concentration of fertilizer into the fertigation system. However, lack of awareness about the usage of fertilizers and stringent regulatory guidelines are expected to hamper the growth of the market over the forecast period. The market is growing at a significant CAGR due to increase in the crop yield and better yield of the products. In addition, government initiations for the environment-friendly fertilization of crops, rise in popularity for drip irrigation systems, and faster absorption rate is anticipated to upsurge the revenue of market. Moreover, acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for dominating the market. For instance, in May 2017, Israel chemical ltd. launched its fertilizers product portfolio in the UK agriculture market.

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