The Latin American water soluble fertilizers market size is expected to reach USD 678.58 million in 2024 and is anticipated to reach USD 937.60 million by 2029, estimated to be growing at a CAGR of 6.68% from 2024 to 2029.
The market in this region is growing at the second fastest rate after the Asia Pacific region. The market continues to gain momentum with the rapid increase in increased demand of food in this region with increasing population. Water Soluble Fertilizers are the fertilizers that readily dissolve in water to give nutrition to crops.
Water Soluble Fertilizers (WSF) are readily soluble in water. Being soluble in water, they release nutrients to the roots of the plants through the process of osmosis. These nutrients absorbed are then transferred to various parts of plants, leaves, stems.etc. where they are used in plant’s mechanism. These fertilizers are mainly used in two ways: fertilization and foliar application. While in Fertigation, WSF are directly inserted into irrigation system, in Foliar system, these fertilizers are directly applied to leaves of the plants.
With increasing needs for food in families with increasing populations around the globe, there has been a huge demand for fertilizers. Farmers need to keep their crops safe as the crops are highly vulnerable to various diseases which spread very fast. So, they need to invest in WSF to safeguard these crops to prevent themselves from getting into huge loss. In addition, economy of all the countries in this region is not that good, resulting in a lot of poor people. Hence, people in few countries of this region prefer vegetarian food. These are the few factors driving this market in this region. Water Soluble Fertilizers are facing challenges mainly because of increasing spending capabilities of people, people tend to eat non-vegetarian more often which indirectly affects this market a little bit. The rise of industrialization in this region has led to the conversion of huge amount farming land into some industrial purpose, which is leading farmers away from this job, hence affecting this market.
Potassic and micronutrient-based WSF are expected to show huge growth among other types as there is a balanced need for all the nutrients for plants. Fertigation mode is most commonly used to apply WSF.
On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Columbia, Mexico and the rest of the countries of South America. Brazil is the biggest market in this region followed by Argentina. Growth rate of this region is second highest after Asia Pacific among all the regions.
Some of the major companies dominating the market, by their products and services include PR Agro Nutri Private Ltd. (India), CF Industries (US), The Mosaic Company (US), Israel Chemicals (Israel), Eurochem (Switzerland), Terra Nitrogen Company (US), PT Petrokimia Gresik (Indonesia), Sinofert Holdings (Hong Kong), Americas Petrogas (Canada) and Sirius Minerals (UK).
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1600
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region