The Europe Water Soluble Fertilizers Market was worth $4.65 billion in 2016 and estimated to be growing at a CAGR of 5.77%, to reach $6.16 billion by 2021.
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Water Soluble Fertilizer Market is biggest in this region in the whole world accounting for approximately 38% of the total market globally. The market continues to gain momentum with the rapid increase in increased demand of food across the globe with increasing population.
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.
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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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Because of huge population in this region, there has been a huge demand of fertilizers. Farmers need to keep their crops safe from getting rotted because of insufficiency of nutrients in soil.
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.
The rise of industrialization 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.
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The European 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 method. 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.
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 Chemicas (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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