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The global controlled-release fertilizers market to reach $3 billion in 2019
Sep. 19, 2014
According to the report "Controlled-release Fertilizers Market by Type, by Crop Type, & by Geography - Global Trends and Forecast to 2019"，the global controlled-release fertilizers market is projected to reach $2,994.7million in 2019, at a CAGR of 6.5% from 2014 to 2019. The growth of the market is primarily triggered by its high efficiency with minimum wastage, ease of application and reduced application cost. Also, the growing food demand in both, developed and developing nations, has helped the growth of the market. However, factors such as high cost, storage limitations, and the accumulation of salts in soil are restraining the growth of this market.
The market was dominated by North America, which accounted for around 40% of the total share, in 2013. The Asia-Pacific region is projected to be the fastest growing market owing to the growing demand of food products and environment-friendly agri-inputs.
Japan is projected to be the fastest growing market for controlled-release fertilizers, followed by China and India. The turf & ornamentals segment is projected to be the biggest and fastest-growing market for controlled-release fertilizers, globally, from 2014 to 2019. The cereals & oilseeds and fruits & vegetables segments are projected to grow significantly,at a CAGR of 6.6% and 6.2% respectively.
The global controlled-release fertilizers market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers &acquisitions,and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market. The market is dominated by players such as The ScottsMiracle-Gro Company (U.S.), CompoGmbH & Co. KG (Germany), Israel Chemicals Ltd. (Israel), SociedadQuimicay Minera S.A. (U.S.), Haifa Chemicals Ltd. (Israel), and Yara International ASA (Norway).
Source: MarketsandMarkets (M&M)
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