The global water-soluble fertilizer market was valued at USD 15.08 billion in 2019 and is projected to expand to USD 36.26 billion by 2032, registering a CAGR of 7.12% over the forecast period. In the U.S., the market is expected to grow considerably, reaching approximately USD 6.49 billion by 2032. This growth is primarily fueled by the rising demand for high-quality crops, which has boosted the use of specialty fertilizers. In 2019, Europe held the largest share of the market, accounting for 35.54%.
The adoption of water-soluble fertilizers (WSFs) as quick solutions for nutrient deficiencies is gaining traction worldwide. Initially, WSFs were predominantly used in developed countries, but with continuous R&D and the involvement of leading fertilizer producers, their presence in developing regions is also expanding.
Market growth is strongly supported by the need for efficient fertilizers that enhance nutrient absorption in crops and deliver nutrients in a controlled way. Increasing reliance on advanced agricultural methods, coupled with rising demand for fruits, vegetables, and other high-value nutrient-rich produce, is expected to positively influence industry revenues.
Information Source: https://www.fortunebusinessinsights.com/water-soluble-fertilizers-wsf-market-102146
Impact of COVID-19 on the WSF Market
The COVID-19 pandemic created widespread disruptions across industries, and agriculture was among the hardest hit. Lockdowns and restrictions disrupted supply chains, forcing many businesses to pause operations. As a result, the water-soluble fertilizer market is expected to see a temporary slowdown in growth rates. In emerging markets, demand for WSFs may remain weak in the near term as farmers reduce spending on premium inputs due to declining demand for high-end crops.
However, the long-term outlook remains positive. The growing need for food security, coupled with increasing consumer preference for healthy and immunity-boosting diets, is expected to drive demand for nutrient-rich produce such as fruits, vegetables, and nuts. This shift will create opportunities for specialty fertilizers in the coming years.
Strategic Collaborations Driving Growth
Partnerships and collaborations among major players have become a significant trend shaping the market. Companies are focusing on expanding their geographic reach and product offerings. For example, in December 2019, Van Iperen strengthened its presence in North America through its U.S. subsidiary. With partnerships such as the one with Milliken, the company continues to expand its portfolio of specialty and water-soluble fertilizers, reinforcing its global and regional footprint.
Regional Insights
The market analysis covers five main regions: North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Among these, Asia Pacific is expected to record the fastest CAGR, supported by challenges such as shrinking arable land and limited water availability. A strong presence of local manufacturers and rising cross-border trade of fertilizers are also contributing to the region’s rapid growth. North America is likely to grow steadily, driven by strong R&D investments from leading companies. Meanwhile, Europe, valued at USD 5.36 billion in 2019, is anticipated to maintain consistent growth in the coming years.
Key Market Players
- SQM (Santiago, Chile)
- Nutrien Ltd. (Saskatoon, Canada)
- ICL (Tel-Aviv, Israel)
- Yara International (Oslo, Norway)
- Haifa Chemicals Limited (Haifa, Israel)
- The Mosaic Company (Florida, United States)
- EuroChem (Zug, Switzerland)
- Coromandel International Limited (Secunderabad, India)
- Qatar Fertilizer Company (Qatar)
- COMPO EXPERT (Munster, Germany)
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Industry Updates
- In January 2020, Gujarat Agro Industries Corporation (GAIC) announced plans to import WSF products from China to Ahmedabad. These products will be sold under the company’s “AGRO” brand, representing its line of next-generation fertilizers.
