Fertilizers classified as water-soluble dissolve entirely in water to produce a consistent solution. Then, this solution may be used as a foliar spray or sprayed to plants with ease using irrigation systems like sprinklers or drip irrigation. These fertilizers usually include micronutrients like iron, zinc, and manganese together with vital elements like potassium, phosphorus, and nitrogen that plants need. Since water-soluble fertilizers are already in a condition that may be easily absorbed by roots or leaves, they have the benefit of being quickly absorbed by plants. They are especially well-suited to giving plants a fast nutritional boost during crucial development stages or times of high nutrient demand because of their rapid absorption.
Italy Water Soluble Fertilizer Market Driving Factors and Challenges
Drivers: The market for water-soluble fertilizers is growing due to the demand for efficient fertilizers that can provide nutrients in a regulated manner and greatly boost crop nutrient absorption. The demand for fruits, vegetables, and other high-value products with high nutritional content, together with the application of contemporary farming techniques, are expected to positively affect market income. Throughout the projection period, there is anticipated to be a need for water-soluble fertilizers due to rising agriculture industry usage.
In addition, farmers are becoming more conscious of the advantages of water-soluble fertilizers over conventional granular fertilizers. The benefits of water-soluble fertilizers include increased nutrient efficiency, quicker nutrient absorption, and volatilization, all of which raise crop yields and quality.
Challenges: The high cost of water-soluble fertilizer products is restricting the potential expansion of the industry. The high price of specialty fertilizers, such water-soluble and controlled fertilizers, might provide a serious challenge to the market's growth throughout the forecast period. The low cost-effectiveness of these fertilizer kinds may restrict their use in countries with low per capita incomes. Initiatives to develop fertilizers with greater efficiency are being funded by stakeholders in the fertilizer industry. The companies are also focusing on manufacturing technologies to increase production efficiency and reduce the cost of these things for crop producers, especially those with narrow profit margins.
Impact of COVID-19 on Italy Water Soluble Fertilizer Market
The COVID-19 epidemic has had a major influence on Italy's market for water-soluble fertilizers. The transfer of agricultural supplies, especially water-soluble fertilizers, was initially hampered by the strict lockdown measures put in place to stop the virus's spread. These consequences included logistical difficulties and supply chain interruptions. Crop yield maintenance was impacted by farmers' inability to get necessary agricultural items due to transportation limitations and unstable economic conditions.
Italy Water Soluble Fertilizer Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Akzo Nobel N.V., ICL, Compagnie Financiere Richemont S.A, ED & FMan, PAVONI & C SPA, Valagro, Biolchim SPA, URALCHEM JSC, Haifa Negev technologies LTD, COMPO EXPERT, MUGAVERO, Others.
Italy Water Soluble Fertilizer Market Segmentation:
By Product Type: Based on the Product Type, Italy Water Soluble Fertilizer Market is segmented as; Ammonium Nitrate, Ammonium Sulphate, Calcium Nitrate, Potassium Sulphate, Monoammonium Phosphate, Mono Potassium Phosphate, Urea Phosphate, Magnesium Nitrate, Magnesium Sulfate, Water-soluble NPK, Urea, Urea Ammonium Nitrate, Others.
By Crop Type: Based on the Crop Type, Italy Water Soluble Fertilizer Market is segmented as; Horticultural Openfield, Horticultural Greenhouse, Field Crops, Turf & Ornamental, Others.
By Application: Based on the Application, Italy Water Soluble Fertilizer Market is segmented as; Fertigation, Foliar, Raw Material.
By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.