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.
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