Asia-Pacific was the largest market in 2021, accounting for nearly three-fifths of the global controlled release fertilizers market, and is likely to lead the trail throughout the forecast period. Moreover, the same segment is anticipated to manifest the fastest CAGR of 6.9% during the forecast period, in the region. Due to the rapidly increasing population and the growing demand for food in this region, agriculturists are using advanced products and specialty fertilizers such as controlled release fertilizers to heighten crop yields.
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Allied Market Research published a new report, titled, “Controlled Release Fertilizers Market by Type (Slow Release, Nitrogen stabilizers, Coated and encapsulated), by Mode of Application (Foliar, Fertigation, Soil, Others), by End Use (Agricultural, Non-agricultural): Global Opportunity Analysis and Industry Forecast, 2021-2031.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Growing demand for agricultural products across the globe due to surge in population, rise in penetration of controlled and slow-release fertilizers, harmful effects on the environment associated with the use of conventional fertilizers, and the need for control fertilizers to improve crop yield fuel the growth of the global controlled release fertilizers market. However, high cost of controlled and slow release fertilizers due to the use of new technologies used in their production and lack of awareness among growers and farmers about the benefits of these fertilizers hinder the market growth.
This makes it important to understand the practical implications of the controlled release fertilizers market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
According to the report, the global controlled release fertilizers industry is estimated to generate $2.3 billion in 2021 and $4.3 billion by 2031, witnessing a CAGR of 6.6% from 2022 to 2031.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players including Yara International ASA, Nutrien Ltd, The Mosaic Company, ICL Group, Nufram Lts, Kingenta, ScottsMiracle-Gro, Koch Industries, helena chemical company, SQM, JNC Corporation. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
The soil segment held the largest share of more than one-third of the global controlled release fertilizers market in 2021, and is expected to maintain a prominent growth during the forecast period. Rise in population and surge in the demand for food products have led to the increase in the demand for crop production in the agricultural industry, leading to the utilization of controlled release fertilizers to improve crop yield. However, the others segment is likely to exhibit the highest CAGR of 7.2% in 2031.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the controlled release fertilizers market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The coated and encapsulated segment contributed to the largest share of nearly half of the global controlled release fertilizers market in 2021, and is expected to rule the roost during the forecast period. Increasing market demand for high-value crops coupled with the growing production of fertilizer and urea products globally are the major factors fostering the growth of the segment. Moreover, the rising application rates of fertilizers in emerging countries along with the less availability of land are estimated to cushion the growth of the market during the forecast period.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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