Controlled Release Fertilizers to Gain Traction over Conventional Fertilizers, on back of Improved Crop Efficiency
NEW YORK, NY / ACCESSWIRE / March 2, 2021 / Fact.MR: Broader initiatives toward sustainable agriculture continues to boost controlled release fertilizer sales, but inflexibility and inconsistency remain deterrents. A new market study by consulting firm Fact.MR opines demand for controlled fertilizers to grow at nearly 5% in 2021. The potential for further demand remains significant, however, in the absence of regulations, adoption remains modest in many agrarian economies.
Fact.MR's study tracks global sales of controlled release fertilizers in 20+ countries, highlighting key aspects will drive demand in the future.
"Controlled release fertilizers are sustainable, and in sync with the greener future of agriculture. However, pragmatic challenges with supply-demand and cost mean adoption will take its own time," says an Fact.MR analyst.
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Key Takeaways
- Broader sustainability trends to provide momentum in terms of government support
- Sales of controlled release fertilizers growing in China at a double-digit growth rate
- Use of controlled release fertilizers in cereals & grains production higher than protein-based food
- Controlled release manufacturers targeting higher sales in food & beverage sector, which currently accounts for nearly 40% share
- US controlled release fertilizer demand driven by sustainability initiatives
- Sales of controlled release fertilizers in UK, France and Germany account for significant share of European market
- Japan and South Korea remain lucrative markets in terms of high average selling price
- Controlled release fertilizers highly fragmented, with domestic players catering to demand
Root Burn and Nutrient Deficiencies Remain Chronic Challenges
According to Fact.MR's survey with stakeholders across the controlled release fertilizer value chain, lack of flexibility remains a key deterrent to wider adoption.
Water soluble fertilizers provide growers the flexibility of adjusting the rate of fertilizer application, however, controlled release fertilizers are devoid of this flexibility.
Further, the same level of release is sometimes not in sync with the actual quantity of fertilizer required by a crop. The inflexibility continues to remain a key reason why growers still prefer conventional fertilizers.
The Fact.MR study profiles some of the leading players in the controlled-release fertilizer market, highlighting their key strategies.
Some of the controlled releaser fertilizer manufacturers profiled in the study include AgroBridge, ATS (Growth Products), Compo GmbH & Co. KG, Ekompany, Eurochem Agro GmbH, Greenfeed Agro Sdn Bhd, Haifa Group, Hangfeng Evergreen Inc, Harrell's LLC, HIF Tech Sdn Bhd, Israel Chemicals Ltd, JNC Corporation (Chisso), Kingenta International, Nufarm Ltd., Nutrien, Scotts Miracle Gro, Smart Fert, Sociedad Quimica Y Minera De Chile SA, and Yara International.
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Fact.MR's analysis of the controlled-release fertilizer market reveals that most of the manufacturers are targeting agrarian countries like India, China, and Malaysia, however, the market is devoid of any aggressive forays.
A defensive approach is the hallmark of controlled release market players as they hope for broader sustainability initiatives to rub off on demand for controlled release fertilizers.
More Valuable Insights on Controlled Release Fertilizers Market
Fact.MR, in its new offering, presents an unbiased analysis of the global controlled release fertilizers market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the controlled release fertilizers market on the basis of product (Polymer Sulfur Coated Urea/Sulfur Coated Urea, Polymer Coated Urea, and Polymer Coated NPK) and application (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables, Others) across six major regions.
Key Questions Answered in the Report
- What will be the sales of controlled release fertilizers in the future?
- Which are the top 5 markets for controlled release fertilizers?
- Which countries are witnessing modest demand for controlled release fertilizers?
- Who are the top manufacturers of controlled release fertilizers?
- What are the key strategies of controlled release fertilizer manufacturers?
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SOURCE: Fact.MR
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