The European water soluble fertilizers market size is expected to reach USD 1454.45 million in 2024 and reach USD 1854 million by 2029, growing at a CAGR of 4.97% from 2024 to 2029.
The market continues to gain momentum with the rapid increase in the demand for food across the globe with an increasing population. Water soluble fertilizers are 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 the plant’s mechanism. These fertilizers are mainly used in two ways: Fertigation and Foliar application. While in Fertigation, WSF is directly inserted into the irrigation system, in the Foliar system, these fertilizers are directly applied to the leaves of the plants.
Because of the huge population in this region, there has been a huge demand for fertilizers. Farmers need to keep their crops safe from rotting because of the insufficiency of nutrients in the soil. Because their livelihood depends on farming only, they need to invest in WSF to safeguard these crops to prevent themselves from getting into huge losses. 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. The rise of industrialization has led to the conversion of huge amounts of farming land for industrial purposes, which is leading farmers away from this job, hence affecting this market.
Potassic and micronutrient-based WSF is expected to show huge growth among other types as there is a balanced need for all the nutrients for plants. The fertigation mode is most commonly used to apply WSF.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. France being the biggest market in this region for WSF, followed by Italy and U.K.
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 Chemicals (Israel), Eurochem (Switzerland), Terra Nitrogen Company (US), PT Petrokimia Gresik (Indonesia), Sinofert Holdings (Hong Kong), Americas Petrogas (Canada) and Sirius Minerals (UK).
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