The global water-soluble fertilizer (WSF) market was valued at USD 15.08 billion in 2019 and is projected to reach USD 36.26 billion by 2032, expanding at a CAGR of 7.12% during the forecast period. In the U.S., revenues are expected to approach USD 6.49 billion by 2032, supported by the growing demand for premium crop production and the rising use of specialty fertilizers. Europe dominated the global market in 2019, holding a share of 35.54%.
Water-soluble fertilizers are increasingly recognized as an effective solution for tackling nutrient deficiencies in crops. While their adoption was initially concentrated in developed economies, ongoing R&D efforts and initiatives by leading fertilizer manufacturers have expanded their reach into emerging markets.
The market is gaining traction due to the rising preference for fertilizers that promote improved nutrient absorption and controlled nutrient release. In addition, the adoption of advanced farming methods and the increasing consumption of fruits, vegetables, and other nutrient-dense, high-value crops are expected to drive significant revenue growth in the years ahead.
Information Source: https://www.fortunebusinessinsights.com/water-soluble-fertilizers-wsf-market-102146
Impact of COVID-19
The outbreak of COVID-19 disrupted global supply chains and agricultural activities, temporarily slowing the WSF market. Lockdowns and trade restrictions forced companies to pause operations, while many farmers in developing economies scaled back spending on premium fertilizers due to reduced demand for high-value crops.
However, the long-term market outlook remains favorable. Growing concerns over food security and consumer preferences for healthier, immunity-boosting diets are expected to stimulate demand for nutrient-rich crops such as fruits, vegetables, and nuts. This trend is likely to create strong opportunities for specialty fertilizer providers.
Strategic Collaborations and Expansion
Strategic partnerships and collaborations are playing a pivotal role in shaping industry dynamics. Market leaders are expanding their geographic presence and strengthening their product portfolios. For example, in December 2019, Van Iperen entered the U.S. market through its subsidiary and broadened its specialty and water-soluble fertilizer offerings by partnering with Milliken. Such moves are helping companies enhance both regional and global footprints.
Regional Insights
The WSF market is divided into five key regions: North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is forecasted to record the fastest CAGR, supported by challenges such as declining farmland, limited water availability, and the presence of local producers. Growing cross-border fertilizer trade also contributes to regional expansion. North America is set for steady growth, underpinned by significant R&D spending from major players. Meanwhile, Europe, valued at USD 5.36 billion in 2019, is expected to maintain stable growth throughout the forecast period.
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)
Industry Updates
- January 2020: Gujarat Agro Industries Corporation (GAIC) announced its plan to import WSF products from China for distribution in Ahmedabad. These fertilizers will be marketed under its “AGRO” brand as part of its new-generation product line.
