Global Controlled Release Fertilizer Market
Global Controlled Release Fertilizers Market Size By Type, By Application Method, By Crop Type, By Geographic Scope and Forecast To 2026
According to Verified Market Research, The Global Controlled Release Fertilizer Market was valued at USD 2,610.9 Million in 2018 and is projected to reach USD 3,932.9 Million by 2026, growing at a CAGR of 5.38% from 2019 to 2026.
Controlled release fertilizers (CRF) can be defined as fertilizers that release nutrients in a manner that is controlled in order to be able to meet the nutrient demand uptake of a crop. These fertilizers have the potential to increase crop quality and yield, improve fertilizer use efficiency as well as minimize potential losses to the environment. The main factors that affect fertilizer release are moisture and temperature. There are several advantages to controlled release fertilizers such as its ease of use, reduced environmental impact and reduced application costs through the reduction of labor costs. The implementation of a controlled release fertilizer can reduce labor costs by eliminating the need to mix and monitor water-soluble fertilizers as well as limits the need for expensive injection equipment.
There is an urgent need for improving the efficiency of fertilizer hence, the anticipated benefits from the controlled release fertilizers are expected to drive the market during the forecast period. Controlled release fertilizers result in the need for fewer applications, which thereby reduce labor and equipment costs. Also, product differentiation provides a better marketing opportunity for organizations. With less frequent application required, there is a more uniform growth response from crops, allowing techs to perform other duties during their scheduled stops.
The global market for Controlled Released Fertilizers might be a revolution in terms of better technology, but the high price in comparison to traditional fertilizers abstains from flourishing completely in the global market. Lack of flexibility in terms of not being able to change the fertilizer after it has been incorporated, its locked-in rate and improper management of controlled released fertilizers might be a few of the restraining factors in the growth of the market in the forecast period.
The Global Controlled Release Fertilizers Market are studied on the basis of key geographies Europe, North America, Asia Pacific and Rest of the World. The Asia Pacific is contributing the largest revenue share in the controlled release fertilizer market as well as is the fastest-growing region in the same. The market for controlled-release fertilizer in the Asia Pacific is witnessing an immense rise, due to the growing need for food. Farmers and agriculturists are using advanced products and specialty fertilizers such as controlled release fertilizers to heighten crop yields from the limited farming land available across the Asia Pacific. The rapidly increasing population in this region has also fueled the market for Controlled Release Fertilizers also.
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