Italy Water Soluble Fertilizer Market: Current Scenarios and Opportunities

[sara James]

The Italy Water Soluble Fertilizer Market is estimated to reach USD 862.2 million by 2030 according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.7% from 2022 to 2030. The growth is attributed to the popularity of these products as an immediate nutrient deficiency corrector and large-scale agricultural exports from the country.

The raw materials used in the production process include compound & elemental fertilizers, and some additives. The choice of raw materials, including the raw material grades, type of elements, and their contents, can have a significant impact on the product quality.

The market is highly competitive owing to the presence numerous leading players such as ICL Fertilizer, Akzo Nobel N.V., and EuroChem Group. These players have strong distribution networks worldwide.

The market is governed by stringent rules and regulations in the country. Thus, formulating an appropriate product that follows the maximum permissible limits of chemicals is one of the challenges faced by the industry in the country.

Related Press Release@ Italy Water Soluble Fertilizer Market Report

Italy Water Soluble Fertilizer Market Report Highlights

• In 2021, water soluble NPK emerged as the dominant product type segment by contributing around 15.6% of revenue share as it enables effective control of pre-existing nutritional deficiencies of crops.
• NPK 20:20:20 segment was the dominant sub-segment in terms of both revenue and volume, as enhances the blossoming and ripening of flowers and fruits, respectively.
• Urea was the second-largest product type segment and is projected to grow at a CAGR of 7.6% in terms of revenue by 2030, owing to its lower cost and the presence of high nitrogen content
• The fertigation application segment is projected to grow at the highest CAGR of 7.7% in terms of revenue owing to the proper distribution of fertilizer beyond the root zone.