The water-soluble fertilizer market is on the rise.
According to the latest report from MarketsandMarkets, the water-soluble fertilizer market is estimated to grow at a CAGR of 5.3 percent from 2013 to 2018.
The global market for water-soluble fertilizers in terms of revenue was estimated to be worth around $10,758 million in 2012 and is expected to reach $ 14,709 million by 2018.
Water-soluble fertilizers are fertilizers that can be dissolved in water and added or leached out of the soil.
The factors such as increasing cost of fertilizers, ease of application, innovative production practices, new product offerings, increased availability, and the advent of micro irrigation and mechanized irrigation systems are driving the market for water-soluble fertilizers industry, globally.
Other driving factors for the global water-soluble fertilizers market are subsidies provided by the government, increasing applications of green houses and high efficiency.
The main obstacle in the growth of global water-soluble fertilizers market is the seasonal demand and high cost of water-soluble fertilizers in comparison to regular soil-applied fertilizers.