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Controlled-release Fertilizers Market—How to Leverage on Food & Beverages Industry During COVID-19 Crisis?

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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