Portland, OR, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global controlled release fertilizers granules market garnered $0.5 billion in 2021, and is estimated to generate $1.0 billion by 2031, manifesting a CAGR of 8.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.5 billion |
| Market Size in 2031 | $1.0 billion |
| CAGR | 8.0% |
| No. of Pages in Report | 263 |
| Segments covered | Product Type, Application, and Region. |
| Drivers | Growing population Surge in demand for food shortage These are environment-friendly, affordable, and sustainable |
| Opportunities | The practice of modern agricultural techniques |
| Restraints | High cost |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a slight negative impact on the growth of the global controlled release fertilizers granules market, owing to implementation of the global lockdown.
- In the post-pandemic, the market is expected to rise with the increase in the global population, especially in developing countries. Granulated controlled-release fertilizer contributes significantly to increasing crop output by boosting soil fertility, which supports the development of crops. Food demand has increased as a result of the expanding population. The market for controlled-release fertilizer granules is anticipated to be driven by an increase in awareness initiatives to educate farmers about the advantages of fertilizer, such as promoting its use through television advertising and workshops.
The research provides detailed segmentation of the global controlled release fertilizers granules market based on product type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on product type, the polymer-coated products segment held the highest share in 2021, accounting for nearly one-third of the global controlled release fertilizers granules market, and is expected to continue its leadership status during the forecast period. However, the polymer-sulphur-coated urea (PSCU) segment is expected to register the highest CAGR of 8.2% from 2022 to 2031.
Based on application, the non-agriculture segment accounted for the highest share in 2021, contributing to nearly two-thirds of the global controlled release fertilizers granules market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the agriculture segment is expected to manifest the highest CAGR of 8.1% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than three-fifths of the global controlled release fertilizers granules market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 8.1% during the forecast period.
Leading market players of the global controlled release fertilizers granules market analyzed in the research include Allied Nutrients, Koch Industries, Inc., Knox Fertilizer Company, Inc., J.R. Simplot Company, Haifa Negev technologies LTD, ICL Group, ASK Chemicals, Kingenta , Neufarm GmbH, Nutrien Ltd.
The report provides a detailed analysis of these key players of the global controlled release fertilizers granules market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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