The global Controlled-release Fertilizers Market size is prognosticated to reach USD 3.86 billion by 2026. According to a report published by Fortune Business Insights™ titled, “Controlled-release Fertilizers Market Size, Share & Industry Analysis, By Type (Slow-release, Coated & Encapsulated, and Nitrogen Stabilizers), Application (Cereals, Oilseeds & Pulses, Fruits & Vegetables, & Others), and Regional Forecasts, 2019 - 2026” the market value was USD 2.37billion in 2018. The forecast period is set from 2018 to 2026, and the market is likely to witness a CAGR of 6.37% on account of increasing demand for food to suffice to the needs of the increasing population worldwide.
Introduction of Cost-Efficient CRF Fertilizers to Help Market Gain Impetus
The American Plant Food Control Officials (AAPFCO) definescontrolled-release fertilizers as plant-nutrient containing fertilizers thatdelay its availability for plant uptake and use after application. With theincreasing population, governments of various nations are imposing security onfood. This is likely to help promote the delayed-release fertilizers marketgrowth. Besides this, companies are trying to introduce cost-efficient andencapsulated CRF fertilizers and this will further attract high slow actingfertilizers market revenue in the forecast duration.
Report Objectives
- A comprehensive overview of the CRF fertilizers market
- Interesting insights and key industry developments of the market
- Growth trajectories such as drivers, restraints, challenges, and opportunities
- Significant market players and their key strategies to strive for the top position in the market
- Other slow-acting fertilizers market trends
The increasing environmental concerns are further propellingagriculturists, farmers and others to improve the utilization of fertilizersfor increasing nutrient uptake among crops. This, as per analyst at FortuneBusiness Insights™, will further contribute to the decline in environmental stressand ultimately help to increase the overall CRF fertilizer market size in theforeseeable future.
However, the lack of proper laws for protecting controlled-releasefertilizers may affect the overall CRF market size in the forecast period.Nevertheless, government efforts and the launch of various educational programsfor farmers are likely to help create lucrative controlled-release fertilizermarket growth opportunities in the near future.
Asia Pacific to Continue Dominance on Account of High Productionand Consumption Rates Derived from China
From a geographical perspective, North America is dominating themarket on account of the presence of large number of players. However, AsiaPacific is likely to register the fastest delayed-release fertilizer (CRF)market growth rate with a CAGR of 7.1% during the forecast period. This isattributed to the rapid increase in the population of countries especiallyChina and India. This is further propelling the rise in demand for food allover the region. Japan and China are the two major market leaders in AsiaPacific with both high production and consumption. Growth in China is owing tothe rise in research and development of innovative agricultural products,coupled with the presence of market players namely Hangfeng Evergreen, KingentaInternational, and others in the nation. Moreover, conducive policiesconcerning smart fertilizers in Japan and China are further expected to helpthis region continue dominating the market in the years to follow.
Adoption of Merger and Acquisition Strategies to Bode Well forMarket Vendors
Key players such as ICL, Pursell, and SQM have raised the bars andset new standards on cost-effective specialized fertilizers. This is ultimatelyencouraging agricultural companies to heighten their production scale andexpand their portfolios by increasing the number of product launches. Besidesthis, new players in nations such as China, Japan, and the U.S., are enteringinto the CRF fertilizer market looking at the future opportunities the marketwill provide. Recently, companies such as Haifa Chemicals, Agrium, and Kingentaadopted a merger and acquisition strategy for the expansion of their portfolioacross all geographies.
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https://www.fortunebusinessinsights.com/controlled-release-fertilizers-crf-market-101973
