Controlled Release Fertilizers Market Top Leading Countries, Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges and Global Forecast 2027
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 2.37 billion 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) defines
controlled-release fertilizers as plant-nutrient containing fertilizers that
delay its availability for plant uptake and use after application. With the
increasing population, governments of various nations are imposing security on
food. This is likely to help promote the delayed-release fertilizers market
growth. Besides this, companies are trying to introduce cost-efficient and encapsulated
CRF fertilizers and this will further attract high slow acting fertilizers
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 propelling
agriculturists, farmers and others to improve the utilization of fertilizers
for increasing nutrient uptake among crops. This, as per analyst at Fortune
Business Insights™, will further contribute to the decline in environmental stress
and ultimately help to increase the overall CRF fertilizer market size in the
foreseeable future.
However, the lack of proper laws for protecting controlled-release
fertilizers may affect the overall CRF market size in the forecast period.
Nevertheless, government efforts and the launch of various educational programs
for farmers are likely to help create lucrative controlled-release fertilizer
market growth opportunities in the near future.
Asia Pacific to Continue Dominance on Account of High Production
and Consumption Rates Derived from China
From a geographical perspective, North America is dominating the
market on account of the presence of large number of players. However, Asia
Pacific is likely to register the fastest delayed-release fertilizer (CRF)
market growth rate with a CAGR of 7.1% during the forecast period. This is
attributed to the rapid increase in the population of countries especially
China and India. This is further propelling the rise in demand for food all
over the region. Japan and China are the two major market leaders in Asia
Pacific with both high production and consumption. Growth in China is owing to
the rise in research and development of innovative agricultural products,
coupled with the presence of market players namely Hangfeng Evergreen, Kingenta
International, and others in the nation. Moreover, conducive policies
concerning smart fertilizers in Japan and China are further expected to help
this region continue dominating the market in the years to follow.
Adoption of Merger and Acquisition Strategies to Bode Well for
Market Vendors
Key players such as ICL, Pursell, and SQM have raised the bars and
set new standards on cost-effective specialized fertilizers. This is ultimately
encouraging agricultural companies to heighten their production scale and
expand their portfolios by increasing the number of product launches. Besides
this, new players in nations such as China, Japan, and the U.S., are entering
into the CRF fertilizer market looking at the future opportunities the market
will provide. Recently, companies such as Haifa Chemicals, Agrium, and Kingenta
adopted a merger and acquisition strategy for the expansion of their portfolio
across all geographies.
To Gain More Insights into the Market, Click Here:
https://www.fortunebusinessinsights.com/controlled-release-fertilizers-crf-market-101973
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