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Controlled Release Fertilizers Market Trends

Report ID: GMI1112
Published Date: Aug 2024
Report Format: PDF

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Controlled Release Fertilizers Market Trends

The controlled release fertilizers (CRFs) market is witnessing a surge in adoption, primarily fueled by the increasing emphasis on sustainable agriculture and the need for higher crop yields. According to the United States Department of Agriculture (USDA), the adoption of sustainable farming practices has increased by 15% over the past five years. Technological advancements in coating are amplifying the efficiency and cost-effectiveness of CRFs. Precision agriculture is gaining traction, underscoring the pivotal role CRFs play in fine-tuning nutrient delivery.

Moreover, escalating government backing and subsidies for eco-friendly fertilizers are propelling market expansion. The Environmental Protection Agency (EPA) reports a 20% increase in funding for eco-friendly agricultural practices in 2023. Concurrently, the horticulture and turf management sectors are witnessing growth, further bolstering the demand for CRFs. Collectively, these trends underscore the market's shift towards heightened environmental sustainability and enhanced agricultural productivity.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for controlled release fertilizers was valued at USD 2.5 billion in 2023 and is projected to expand at over 10.6% CAGR from 2024 to 2032 driven by technological advancements.

The soil segment in the controlled release fertilizers market will observe 10.3% CAGR through 2032 due to its critical role in enhancing soil fertility and crop productivity.

North America market will record USD 2 billion by 2032 driven by the emphasis on advanced agricultural practices and sustainability.

Yara, Nutrien Ltd.,Mosaic, ICL, Nufarm , Kingenta, ScottsMiracle-Gro, Koch Industries, Helena Chemicals, SQM, and Haifa Chemicals.