ID: MRFR/AGR/4540-HCR | February 2021 | Region: Global | 100 pages
The controlled-release fertilizers market is estimated to reach USD 3.09 billion in 2019 and is expected to register a 6.53% CAGR during the forecast period, 2019 to 2027. The increasing demand for high-efficiency fertilizers, increasing focus on minimizing nutrient losses are the major driving factors for the growth of the market. The farmers are focusing on boosting their crop production thus are ready to adopt advanced farming technologies. The use of controlled-release fertilizers lowers the loss of nutrients and therefore requires a lesser amount for fertilizer application as compared to conventional fertilizers. Thus, due to this reduction in the cost of cultivation, the profit realization for the farmers increases along with the crop yield. However, the lack of skilled labors and supply of less effective counterfeit products are the major challenges faced by the players operating in this market.
The controlled-release fertilizers market has been segmented based on technology, form, mode of application, application, and region.
By technology, the market has been bifurcated into coating and encapsulation.
By form, the market has been segmented into liquid, granular, and powder.
Based on mode of application, the market has been classified as dibbling, foliar, and other.
Based on application, the global market has been classified as cereals & grains, oilseeds & pulses, turfs & ornamentals, fruits & vegetables, and others.
The global market has been studied with regards to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has further been categorized as the US, Canada, and Mexico. The European controlled-release fertilizers market has been divided into Germany, France, Italy, Spain, the UK, and the rest of Europe. The market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market in the rest of the world has been segmented into South America, the Middle East, and Africa.
BASF SE (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), Koch Industries (US), Scottsmiracle-Gro (US), Compo Expert GmbH (Germany), Agrium (Canada), Jcam Agri. (Japan), Helena Chemical (US), ICL (Israel), Kingenta (China), and SQM (Chile) are some of the key players in the global controlled-release fertilizers industry.
Regional Market Summary
The market in Asia-Pacific is expected to dominate the market for controlled-release fertilizers during the forecast period. The increasing adoption of modern agriculture practices and growing awareness regarding the environmental benefits associated with the use of controlled-release fertilizers have boosted the growth of the market. The rest of the world is projected to witness the fastest growth during the forecast period with South America being the major contributor.
|Market Size||USD 3.09 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Form, and Mode of Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Yara International (Norway), Haifa Chemicals Ltd (Israel), Koch Industries (US), Scottsmiracle-Gro (US), Compo Expert GmbH (Germany), Agrium (Canada), Jcam Agri. (Japan), Helena Chemical (US), ICL (Israel), Kingenta (China), and SQM (Chile)|
|Key Market Opportunities||Due to reduction in the cost of cultivation, the profit realization for the farmers increases along with the crop yield|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
controlled-release fertilizers market value was USD 2.01 billion by 2024.
controlled-release fertilizers market is expected to thrive at a CAGR of 6.5% from 2019 to 2024.
Development of high-efficiency fertilizers which can minimize the loss of nutrients is the major driver of the global controlled-release fertilizers market.
Lack of skilled laborers and presence of counterfeit products can hamper the global controlled-release fertilizers market growth.
The APAC region can dominate the global controlled-release fertilizers market due to adoption of modern agricultural practices.
Agrium, Scottsmiracle-Gro, Helena Chemical, Yara International, Jcam Agri., Haifa Chemicals Ltd, Compo Expert GmbH, SQM, Kingenta, Koch Industries, ICL, and BASF SE are major players of the global controlled-release fertilizers market.