Amino Acid Water-soluble Fertilizers Market Outlook 2031
The global amino acid water-soluble fertilizers market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023–2031. The market is propelled by the expansion of the agriculture industry across the globe.
Growing global inclination towards organic farming practices is expected to boost the market during the forecast period. The use of amino acid water-soluble fertilizers aligns with the practice of eco-friendly and sustainable agriculture. These fertilizers help increase soil microbial activity and enhance soil structure, contributing to long-term soil growth. Therefore, the market is likely to have substantial propulsion with the expansion of the agriculture industry in the coming years.
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As per the data updated by the United States Department of Agriculture in November 2023, the food, agriculture, and related industries contributed approximately USD 1.264 trillion to the GDP of the US in 2021. This is equivalent to around 5.4% of the total GDP of the country.
Amino acid water-soluble fertilizers have been preferred in recent years over conventional ones, due to their reduced environmental impact in comparison with chemical fertilizers. Furthermore, it helps increase crop output and overall productivity. These factors are anticipated to impel the market in the coming years.
The COVID-19 pandemic hindered the market, due to the lockdown restrictions that were imposed by numerous governments and regulatory bodies across the globe. This completely disturbed the import-export activities across nations and disrupted the global supply chain. The deficit in supply and demand led to a market slowdown.
Amino Acid Water-soluble Fertilizers Market Dynamics
Major Drivers
The nutrients are immediately available to the plant roots in a soluble form, promoting crop growth by stimulating root development and reducing flower drop. Moreover, these fertilizers increase the yield and quality of the produce and are particularly useful during early flowering, early fruit formation, and fruit development stages, where phosphorous is more needed than nitrogen and potassium. These factors are expected to drive the market during the forecast period.
Rising demand for water-soluble fertilizer is expected to drive the market during the projection period. Water-soluble fertilizers are highly convenient and efficient in providing an even supply of nutrients and micronutrients. Their application is simple, especially for container plants, and poses no risk of plant burn if the instructions on the label are followed.
Existing Restraints
High cost of amino acid water-soluble fertilizers is likely to hamper the market during the forecast period. Although water-soluble fertilizers offer many benefits, they are more expensive than granular fertilizers and more difficult to store. They are also likely to become volatile over time and require specific equipment, which is a considerable investment of money and time for greenhouses that lack a constant liquid feed system. This discourages small to mid-scale farmers from adopting this fertilization method, ultimately leading to a market slowdown.
Emerging Opportunities
Increasing awareness about the benefits of amino acid-based fertilizers is anticipated to provide substantial growth opportunities for the market. The rising requirement for high-quality fertilizers, driven by the surge in global population and the need for sustainable food production, has resulted in the development of amino acid water-soluble fertilizers. These fertilizers have several benefits over traditional fertilizers, including enhanced nutrient uptake, improved crop yield, and diminished environmental impact.
Amino acids help increase nutritional absorption by promoting improved microbial activity. The soil microbes break down the nutrients, making it easy for the roots to absorb them. Furthermore, amino acids are rich in nitrogen, making them an eco-friendly option for fertilization. These factors are likely to create lucrative prospects for the market during the projection period.
Scope of the Amino Acid Water-soluble Fertilizers Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Amino Acid Water-soluble Fertilizers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Liquid Fertilizers and Solid Fertilizers) and Application (Crops and Horticulture)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Yara; URALCHEM JSC; SQM S.A.; Sinclair Mineral & Chemical Company; OMEX International, Inc.; ICL; Haifa Negev technologies LTD; Bunge Limited; and arabpotash.
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Amino Acid Water-soluble Fertilizers Market Segment Insights
Type Segment Analysis
Based on type, the amino acid water-soluble fertilizers market is divided into liquid fertilizers and solid fertilizers. The solid fertilizers segment is projected to hold the major share of the market during the projection period, due to their wide availability and the fact that they help grow large quantities of crops in less time. Furthermore, these are inexpensive and don’t require much water, and are environmentally friendly. Therefore, these types of fertilizers have a high adoption among farmers and are expected to impel the segment in the coming years.
Application Segment Analysis
On the basis of application, the global market is segregated into crops and horticulture. The crops segment is projected to register a high CAGR during the forecast period, owing to the numerous benefits of these fertilizers for the crops. The amino acid water-soluble fertilizers are rich in vital elements such as Phosphorus, Nitrogen, Potassium, Sulphur, Zinc, and Iron, which enrich the soil and help crops thrive. In addition, amino acids aid in increasing the absorption of minerals and nutrients by promoting improved microbial activity. The rising requirement for fertilizers is anticipated to spur the expansion of this segment in the coming years.
Regional Outlook
In terms of region, the global amino acid water-soluble fertilizers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the increasing awareness about the sustainable agricultural practices. The demand for such water-soluble fertilizers is likely to spur in the coming years, as farmers are seeking efficient ways of nutrition delivery to enhance crop yield. In addition, there is a strong presence of several market players in this region. These factors are anticipated to impel the market in the coming years.
The market in Asia Pacific is projected to have a significant surge in the coming years, owing to the rising trend of efficient agricultural practices. Countries such as India and China have large populations engaged in agricultural activities. The market is expected to have considerable growth in the forecast period, due to the development of new sustainable farming methods, coupled with the rising awareness about the benefits of water-soluble fertilizers.
Segments
The amino acid water-soluble fertilizers market has been segmented on the basis of
Type
- Liquid Fertilizers
- Solid Fertilizers
Application
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global amino acid water-soluble fertilizers market are Yara; URALCHEM JSC; SQM S.A.; Sinclair Mineral & Chemical Company; OMEX International, Inc.; ICL; Haifa Negev technologies LTD; Bunge Limited; and arabpotash.
These market players incorporate development strategies such as acquisitions, mergers, partnerships, product launches, collaboration, and production expansion to expand their consumer base worldwide. For instance,
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In March 2022, Haifa Group, one of the prominent market players, signed a purchase agreement with HORTICOOP BV to acquire Horticoop Andina. The latter is a wholesaler that specializes in marketing nutritional products for the purpose of agriculture. This is intended to expand the company production in Ecuador.
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