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(MoneyNewsWire.Net, April 11, 2018 ) The Asia Pacific Water Soluble Fertilizers Market was worth USD 786.6 million in 2016 and estimated to be growing at a CAGR of 6.30%, to reach USD 1,121.5 million by 2022. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid increase in increased demand of food in this region with increasing population, mainly in India and China. Water Soluble Fertilizers are the fertilizers that readily dissolve in water to give nutrition to crops.
Water Soluble Fertilizers (WSF) are readily soluble in water. Being soluble in water, they release nutrients to the roots of the plants through the process of osmosis. These nutrients absorbed are then transferred to various parts of plants, leaves, stems .etc. where they are used in plant’s mechanism. These fertilizers are mainly used through two ways, Fertigation and Foliar application. While in Fertigation, WSF are directly inserted into irrigation system, in Foliar system, these fertilizers are directly applied to leaves of the plants.
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With increasing needs of food in families with increasing population in India and China, there has been a huge demand of fertilizers. India is particularly big market for fertilizers because of most of the share of the population being vegetarian. Big farmers or even smaller ones need to keep their crops safe as the crops are also highly vulnerable to various diseases which spread very fast. Because their livelihood depend on the farming only, they need to invest in WSF to safeguard these crops to prevent themselves from getting into huge loss. In addition, for poor people, vegetarian food is the only way to survive, which profits the WSF market. These are the few factors driving this market in this region. Water Soluble Fertilizers are facing challenges mainly because of increasing spending capabilities of people, people tend to eat non-vegetarian more often which indirectly affects this market a little bit. Also, India which used to be mainly vegetarian has now increasing share of Non-vegetarians. Fast paced industrialization in this region has led to the conversion of huge amount farming land into some industrial purpose, which is leading farmers away from this job, hence affecting this market.
The Asia Pacific market for Water Soluble Fertilizers is broadly categorized into Crop type grown, application of the water soluble fertilizer and type of the WSFs. On the basis of Crop Type Grown, it is segmented into Field, Horticultural, and Turf & Ornamentals. On the basis of how they are used (application), they are further segmented into Fortigation and Foliar. On the basis of type of WSF, they are divided into Nitrogenous, Potassic, Phosphatic and Micronutrients. Potassic and Micronutrients based WSF are expected to show the huge growth among other types as there is a balanced need of all the nutrients for plants. Fertigation mode is most commonly used to apply WSF.
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On the basis of geography, the Asia Pacific market is divided into China, India, Japan, Australia and South Korea. The Water Soluble Fertilizers market is dominated by India in this region because of huge share of population being vegetarian. It is followed by China. Despite Europe being the biggest market all the segmented regions in this report, Asia Pacific is the fastest growing region in the world.p
Some of the major companies dominating the market, by their products and services include PR Agro Nutri Private Ltd. (India), CF Industries (US), The Mosaic Company (US), Israel Chemicas (Israel), Eurochem (Switzerland), Terra Nitrogen Company (US) and Sirius Minerals (UK).
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