Controlled-release fertilizers are meant to prevent loss of nutrients of a crop. They are an important ingredient in crop production process. As per analysis by Food and Agriculture Organization, it is predicted that usage of fertilizers can increase the crop’s productivity by 55%. They help crops absorb nitrogen efficiently thereby, reducing loss of nitrogen and are specialized to maintain soil quality all through the harvesting season.
Controlled-release fertilizer market is gaining popularity among consumers due to high demand for efficient fertilizers, accelerating research to turn coated & encapsulated fertilizers to be cost-effective coupled with controlling nutrient loss. Significant competition is anticipated to drive the market as rise in agricultural exports, sustainable practices employed for agriculture in Argentina, Brazil, India and China, is expected to accelerate the demand of such fertilizers in South America and Asia Pacific. This will most likely increase the frequency of international manufacturers, thus leading a path to high competition and product innovation tailored to customer needs. Strategy based on mergers and acquisitions are also anticipated to propel the growth of this market. Other factors fueling the growth of this market are increasing population, increasing food demand, adverse climatic conditions, being environment friendly coupled with increased private investment. Apart from this, increase in gardens and lawns, mostly in Asia Pacific, coupled with hobby gardeners and cultivators will also propel the controlled-fertilizers market. However, there are some restraints of this market such as lack of awareness by farmers about the product combined with high price of controlled fertilizers compared to conventional fertilizers in the under-developed or developing regions.
The controlled-release fertilizers market is segmented by crop type such as cereals & grains, oilseeds & pulses, fruits and vegetables and others. The others segment includes plantation crops and turf & ornamentals among others.In 2016, cereals & grains dominated the market to become the most frequently and widely used in the controlled-release fertilizers industry mainly due to increasing employment of sustainable agriculture policies. In terms of fertilizer application, U.S and Asia Pacific were the market leaders. By product type, coated & encapsulated witnessed higher growth in the upcoming years due to its multiple benefits backed by promotion by the government for the same. Sulphur-coated fertilizers which are granules coated by liquid sulphur, dominated the developing nations mainly due to very low cost of sulphur. Apart from this, coated fertilizers and stabilizers were mostly used for wheat and corn cultivation in US, India and China. Japan used coated fertilizers for rice.
In North America, U.S leads the controlled-fertilizers market closely followed by Asia Pacific. Asia Pacific market being the most lucrative market is estimated to see key developments and increase in demand. It is also anticipated to witness the highest market growth owing to increasing land shortage and innovation in methodologies used for farming in China and India. However, true potential of controlled-fertilizers market has still not been realized due to lacking awareness and high cost the controlled-fertilizers.
Global Controlled Release Fertilizers Market is segmented as below:
Key players across the Controlled Release Fertilizers Market value chain are:
Agrium Inc., Yara International, CF Industries Holdings, Scotts Miracle-Gro Company ,The Mosaic Company , Haifa Group, ICL Specialty Fertilizers, The Chisso Corporation, Greenfeed Agro Sdn. Bhd., Israel Chemicals Ltd. and ATS Group among others.
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