Water soluble fertilizers are the fertilizers that can be dispersed in water and are therefore effortlessly delivered through fertigation or foliar sprays. They are principally utilized to monitor the number of nutrients distributed to the plants. In other words, they are multi-compound fertilizers that are solvable in water. They are effortlessly absorbed by plants and thus their absorption and usage in comparison with traditional chemical fertilizers is relatively high. Such fertilizers are ideal for the innovative irrigation system. Besides, they also support in prevention the of groundwater contamination.
According to the report analysis, ‘Impact of COVID-19 on Global Water-Soluble Fertilizers Market Segmented; By Product Type (Bio Stimulants, Potassic, Phosphatic, Micronutrients, Bio Fertilizers, And Nitrogen); By Applications (Foliar and fertigation); By Crop Type (Field, Horticulture, Ornamental, Turf and Plantation); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030’ states that the water-soluble fertilizers market is projected to augment on the back of opportunities created by the advent of rising requirement of the emerging economies such as China, India, and Brazil for the food crops, vegetables and fruits would predict have a positive impact on the requirement for the product. A continuous augment in population and their robust interest in disease-free and healthy free food will encourage growth in the upcoming years.
Whereas, the COVID-19 epidemic has prompted the devastation of several businesses around the globe in the supply chain. Nevertheless, amidst the pandemic, the great requirement for critical commodities would promote healthy business growth. The outbreak of the coronavirus has a smaller effect on the fertilizers market owing to it was regarded to manage the supply of fertilizers to the farmers as an indispensable commodity. Soluble fertilizer’s supply in several countries can effortlessly build opportunities for the market to avoid food shortages in the midst of the coronavirus.
Moreover, the Asia Pacific is projected to augment its output in the near future owing to the augment in agricultural output in the regions like India, China, Pakistan, and Bangladesh. Furthermore, market drivers are projected to take place in the region with medium to small market players amalgamated with quick productivity enlargement and government assistance. China, which registers for more than a fourth of world rice production, leads in rice production, followed by India and Indonesia. In addition, fruit production and crop planting are prominent in China, comprising tea and coffee.
Whereas, Drip irrigation is progressively required and accepted as it is water-saving and ideal for all regions, comprising undulating ground, rolling hills, rolling topography, and locations of shallow soil layers. The industry will be completely influenced by stepping up government measures to augment agricultural production coupled with several subsidies to promote the usage of drip irrigation. Nonetheless, the government drives the market by its several schemes like decreased retail prices, lower import tax, the introduction of a fresh product, funding for research, consciousness drive, and maybe direct cash transfer to the farmers.
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Ankur Gupta, Head Marketing & Communications