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Sales Of Controlled Release Fertilizer Will Likely Reach US$ 3 Billion By The End Of 2022 End

Fact.MR states the sales of controlled release fertilizers to exceed US$ 4.9 Bn, registering a CAGR of 5% in the assessment period 2021-2031. Demand for healthier crops along with controlled release fertilizers adding nutritional value to crops in the long run are positively influencing the sales of controlled release fertilizers.

Historically, from 2016 to 2020, the sales of controlled release fertilizer experienced an incline of 4%. As the COVID-19 pandemic engulfed the planet, the global chemical industry was forced to curtail production by as high as 60%. Therefore, a decline in controlled release fertilizer production was also registered. However, prospects began to recover since Q4 2020.

Manufacturers are focusing on increasing the efficiency and longevity of crops. Thus, the controlled release fertilizers industry is constantly researching and developing fertilizers according to the demand from end user sectors. In addition, increasing demand for raw and fresh fruits and vegetables has boosted demand to a major extent.

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Key Takeaways from the Market Study

 “The demand for controlled release fertilizers for optimal crop development has increased over the years. Easy availability of fertilizers along with the demand from developing regions is set to accelerate the sales across the forecast period,” says a Fact.MR analyst.

Key Segments Covered

Competitive Landscape

Prominent controlled release fertilizer manufacturers are effectively collaborating with or acquiring existing small, medium and large-scale manufacturers to expand their market presence. Key developments are as follows:

 

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