Water soluble fertilizer market increasing
Water soluble fertilizers are expected to grow in use at a compound annual growth rate (CAGR) of 4.5 percent from 2012 to 2017, reaching 8,895.4 thousand metric tons worldwide by 2017.
Water soluble fertilizers, or the fertilizer ingredients that can be dissolved in water and easily added to the soil will continue to grow in use and value in crop production, according to a financial analysis by MarketResearch.com released in its market research report “Global Water Soluble Fertilizers Market, By Types, Applications, Crop Types & Geography—Trends & Forecasts to 2017.”
“The global market has grown significantly in the last few years and a similar trend is expected to follow for the next five to seven years. Factors such as increasing cost of commodity fertilizers, ease of application of water soluble fertilizers, innovative production practices, new product offerings and increased availability and the advent of micro irrigation and mechanized irrigation systems are driving this market, globally.
“Mergers and acquisitions, partnerships, agreements, collaborations, and joint ventures are the major developmental initiatives taken up by key companies in global water soluble fertilizers market,” the announcement of the report completion explained.
“Though the market is primarily driven by fertigation application, foliar application is gaining awareness and its usage is expected to contribute to future consumption growth of this market.
“Horticultural crops such as vegetable, fruits and flower crops are major crop types which are driving the global market. On the other hand, there is a rising trend for use of water soluble fertilizers on turf and ornamental crops, as well. Plantation crops and hydroponics are expected to emerge as important crop segments for water soluble fertilizers market.
“North America and Europe are the leading consumers—together accounting for more than 70 percent of the consumption on a global scale. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in emerging countries such as China, India, Israel, and Brazil,” the summary report announcement further noted.
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