Press release
Controlled Release Fertilizer Market is Anticipated to Grow at a CAGR of 5.0% by 2033
Controlled Release Fertilizer Market
The primary driver of this market growth is the increasing adoption of various methods to cultivate and deliver high-quality crops. Controlled-release fertilizers, which slowly release nutrients into the soil, are at the forefront of this trend.
Controlled Release Fertilizers Market - Key Takeaways
Positive Growth for Polymer Sulfur Coated Urea: Expected to grow significantly during the forecast period (2019 to 2029) due to its emission-reducing properties.
Increased Use of Cereals & Grains: Anticipated to grow 1.5X, driven by the rising demand for protein-based food.
Dominance of Fruits & Vegetables: Expected to account for 40% of the market share, making it the most lucrative end-use for controlled release fertilizers.
East Asia's Market Potential: Remains one of the most lucrative regions, driven by robust agricultural production in China, the global leader in the production of fruits, vegetables, and food grains.
North America's Contribution: Accounts for one-quarter of global market revenue, creating significant opportunities for manufacturers.
Growth in South Asia: Projected to exhibit an uptrend due to high agricultural productivity in countries like India, Malaysia, and Thailand.
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Controlled Release Fertilizers Market - Key Driving Factors
The increasing demand for food, and the availability of less fertile land is attributing to inclination towards controlled release fertilizers over conventional fertilizers.
The increased efficiency in crop farming and reduced quantities of waste due to agricultural runoff has propelled the demand for controlled release fertilizers.
Controlled Release Fertilizers Market - Key Restraint
Factors such as high cost, lack of awareness among farmers, and subsidies provided by governments on conventional fertilizers, are likely to challenge the sales of controlled release fertilizers, thereby hindering the overall growth.
Read More: https://www.factmr.com/report/4565/controlled-release-fertilizer-market
Competition Landscape
Prominent manufacturers in the controlled release fertilizers sector include AgroBridge (m) Sdn. Bhd., ATS (Growth Products), Compo GmbH & Co. KG, Ekompany International B.V., Eurochem Agro GmbH, and Yara International.
These manufacturers are actively expanding their market presence through strategic collaborations and acquisitions. For example, Eurochem Agro GmbH announced the acquisition of the Brazil-based Serra do Salitre phosphate project in August 2021. This project, currently halfway completed, is slated to commence fertilizer production by 2023. The acquisition aims to reduce Brazil's dependence on phosphate imports and bolster local production of phosphates and complex fertilizers.
About the Report
This 170-page study offers readers a comprehensive market forecast of the global controlled release fertilizer market. The report presents historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the controlled release fertilizers market on the basis of product (Polymer Sulfur Coated Urea/Sulfur Coated Urea, Polymer-Coated Urea, and Polymer Coated NPK) and application (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables, Others) across six major regions.
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