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 plantnutrient 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 .
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