LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global water-soluble fertilizers market report. This research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.
The basic plant nutrients used for a better crop yield are phosphate, nitrogen, and potassium. Nitrogen is the most widely used nutrient as fertilizer after phosphate and potash. These elements are crucial for agricultural outputs as they help in improving water retention, nutrient value, color, texture, yield, disease resistance, and various other properties. These nutrients find extensive applications base in several crops such as rice, wheat, soybeans, palm, cotton, grains, corn, sugar, fruits, and vegetables.
Competitive vendor landscape
The global market for water-soluble fertilizers is highly fragmented, characterized by the occurrence of expanded regional and international corporations owing to the prevalent accessibility of natural gas. Nevertheless, as international corporations have increased their predominance in the market, regional corporations are finding it extremely difficult to compete with them, especially in terms of technology, quality, and pricing.
“Vendors with better financial and technical resources can progress with innovative products that render competitors’ merchandise non-competitive even before they are launched, or before they can recover the research and development and commercialization costs,” says Ajay Adikhari, a lead agrochemicals and fertilizers analyst from Technavio.
The market is dominated by leading global players. Nonetheless, there are several domestic and foreign players with comparatively smaller market shares. Many global players are projected to enlarge their presence at the global level during the forecast period. In addition, improvements in global economic conditions are boosting the growth of the market, making it an attractive time to launch new products.
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Top five water-soluble fertilizers market vendors
Agrium
Agrium’s fertilizers offer farmers crucial nutrients that increase crop yield and help them meet the global demand for food. The company operates in two segments, wholesale and retail. These units are responsible for producing and marketing phosphate, nitrogen, sulfate, and potash-based nutrients for crop.
Haifa
Haifa is owned by Trance Resource, a US-based holding company. Haifa operates in more than 100 countries across five continents with three production plants and 12 subsidiaries. Its main production plants are in Israel and France with a combined annual potassium nitrate production capacity of 500,000 million tons.
Haifa offers an extensive portfolio of water-soluble fertilizers that ensure optimal plant nutrition. Efficient fertilizers and effective fertilization methods have become the main solution to the increasing demand for agricultural products.
PotashCorp
PotashCorp mines potash from underground deposits left behind by evaporated seas. The world’s largest deposits are in Saskatchewan. Water-soluble fertilizers are used for the following:
- As fertilizer: It improves root strength and disease resistance; assists water retention; and enhances taste, color and texture of food
- As feed: It aids animal growth and milk production
- It is used in industrial products (food products, soaps, water softeners, de-icers and drilling muds)
Mosaic Company
Mosaic Company was incorporated in 2004 and is headquartered in Plymouth, Minnesota, US. The company is a manufacturer and distributor of potash crop nutrients and concentrated phosphate. Its product offering includes potash, phosphates, feed ingredients, and industrial products. The company serves customers in approximately 40 countries.
Yara International
Yara International has established its presence in the fertilizers and agrochemicals sector with NPK fertilizers, secondary nutrients (calcium, magnesium, and sulfur), and micro nutrients (boron, copper, iron, molybdenum, and manganese). Its fertilizer portfolio includes calcium ammonium nitrate, ammonium nitrate, urea, urea ammonium nitrate solutions, ammonium sulfate, and fertigation and liquid fertilizers. Its key brands include YaraBela, YaraLiva, YaraMila, YaraVera, and YaraVita.
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