Why Controlled Release Fertilizer Market are Booming Rapidly? Industry in-Depth Analysis with Growing Trends || Scotts Miracle-Group, Haifa Chemicals, ICL Specialty Fertilizers, Eurochem Agro, AgroBridge, Nufarm

Graphical Research has added a new report on controlled release fertilizer market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

The grains and meat that humans consume contain essential nutrients that require replacement once taken out of soil. Without fertilizers, the agricultural productivity and crop yields would not be adequate enough to cater to the human nutritional needs, which are addressed by effective fertilizers.

Since one of the most effective and reliable ways to balance the availability of nutrients with the plant requirements is by controlling their release into the soil, using CRFs or controlled release fertilizers, their demand is certain to soar globally. The following seven trends have been fueling global controlled release fertilizer market share:

Growing scarcity of food crops in Asia

Due to the limited availability of arable land, alongside the population explosion in the region, the pressure on agricultural crop production has been rising in Asia. With the threat of scarcity of food crops looming large, the governments of Asian countries have been seeking effective measures for boosting agricultural production. As high-quality fertilizers and pesticides can address the issue of food requirements, APAC controlled release fertilizer market size is certain to expand.

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The records of the Indian Ministry of Agriculture reveal that the consumption of fertilizers throughout the nation increased from 54.38 million tons during 2017-18 to more than 59.88 million tons during 2019-20, recording highest sales just before the outbreak of the COVID-19 pandemic. Telangana, Puducherry, and Punjab rank amongst the top five states in terms of fertilizer consumption.

Polymer sulfur coated urea fertilizer demand

The polymer sulfur coated urea fertilizers have been gaining considerably from the trending adoption of sustainable solutions across the agricultural sector. As these fertilizers are enriched with eco-friendly ingredients such as seaweed extracts, they can significantly reduce nitrogen loss in soil, which generally occurs with the use of traditional fertilizers.

The shift toward trends such as organic farming and precision farming across Asia has been encouraging the progress of regional controlled release fertilizer market forecast. By 2024, the regional market share from this segment is projected to reach $0.5 million, growing a stable CAGR of more than 7.6% between 2017 and 2024.

Cereals & grains application to witness uptick

Use across cereals & grains segment in the overall Asia Pacific controlled release fertilizer market is expected to claim a major share by 2024, thanks to the presence of global agricultural powerhouses such as India and China in the region. The government encouragement in the form of subsidization of effective fertilizers for promoting their use has been pushing the demand for these products. For instance, the Government of India has been offering subsidies to farmers, who can buy fertilizers, at a lower price than the MRP or maximum retail price, to make fertilizers more affordable.

Horticulture segment across North America

The controlled release fertilizers (CRFs) segment is poised for distinguished growth and might represent a key portion of the total North America market share by 2026. The farmers and cultivators in the U.S. have particularly adopting CRFs to a great degree in the recent times. The horticulture sector is one of the major end-users in the U.S., while corn and millet farms are also likely to register a high demand. These fertilizers are also used in the cultivation of grains, soybean, and livestock products.

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U.S. to command considerable CRF market share

The U.S. controlled release fertilizer market is projected to command a large portion of the overall North America industry through the span of the next decade. This growth is supported by the implementation of best crop management practices across the agriculture sector. As several farmers have been adopting upgraded technologies and eco-friendly methods such as precision farming and organic farming, the market is expected to witness a promising addition to the global market revenue by 2024.

High consumption of cereals across America

The North American market for controlled release fertilizers has been advancing fast, due to the substantial contribution of the cereals & grains segment. During 2017, the segment accounted for more than 20% of the overall regional industry share and is likely to be the fastest expanding segment in the market. Wheat, corn, rice, millet, sorghum, rye, oats, and barley are some of the most consumed cereals that are required in several food preparations including processed food. Cereal farming also plays a vital role as a biofuel and industrial starch.

Increased consumption of fertilizers in France

The French market in Europe controlled release fertilizer market is poised for significant expansion over the forthcoming years, owing to the high agricultural diversity across the region. The metropolitan France had more than 490,000 farms as of 2010 and is consequently the largest region with utilized agricultural acreage (UAA) in the European continent that spans over 30 million hectares. During 2008, France ranked amongst the five leading countries that use NPK based fertilizers, as per the data of the IFDC Worldwide Fertilizer Capacity Listings.

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The production as well as the consumption of fertilizers has considerably risen since then, on account of the expanding population base. As the disposable incomes of the residents increase, the production of meat and this has led to an escalated demand for grains to produce more animal feed. The need for fertilizers with lower carbon footprint is pushing Europe controlled release fertilizer market size further, as the environmental concerns heighten.

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