(MENAFNEditorial)
The global water-soluble fertilizers market has been forecasted to reach a value of USD 15.30 billion by 2020 at a CAGR of 5.6%. The market is primarily driven by the increasing demand for food due to the growing global population, rising standards in agricultural farming, and extensive use of technology in fertilizers development. Extensive activities are expected to increase the delivery of enhanced yields and superior produce.
Key industry players invest extensively in research and development initiatives to expand their product portfolios. Continuous investments in new product development, launches, and acquisitions have expanded the scope of the industry. Key players in the industry introduce new fertilizers to add benefits to products, which has resulted in the introduction of a new market for water-soluble fertilizers.
The water-soluble fertilizers market is highly competitive with a large number of global market players. This report studies the growth strategies adopted by the major market players between 2010 and 2015. Key players have adopted various strategies to expand their global presence and increase market shares. New product launches, expansions, investments, agreements, collaborations, joint ventures, acquisitions, and partnerships are some of the main strategies adopted by market players to achieve growth in the water-soluble fertilizers market.
Europe held the largest share of the global water-soluble fertilizers market in 2014. In the forthcoming years, Asia-Pacific market is projected to be the fastest revenue-generating pocket.
The global market is marked with intense competition due to the presence of a large number of big and small firms. New product developments, mergers & acquisitions, and expansions are the key strategies adopted by market players to ensure their growth. The market is dominated by players such as the Agrium Inc. (Canada), Israel Chemical Ltd. (Israel), The Mosaic Company (U.S.), Coromandel International Ltd. (India), Haifa Chemicals Ltd. (Israel), and Yara International ASA (Norway).
In this report, the global water-soluble fertilizers market is segmented into type, application, crop type, and region. The said market was valued at USD 11.05 billion in 2014 and is projected to grow at a CAGR of 5.6% from 2015 to 2020.
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