Home Press Releases Controlled-Release Fertilizers Market Set to Reach USD 2.9 Billion by 2028, Driven by Sustainable Agriculture Practices

Controlled-Release Fertilizers Market Set to Reach USD 2.9 Billion by 2028, Driven by Sustainable Agriculture Practices

by Press Room

(EMAILWIRE.COM, September 29, 2023 ) The global controlled-release fertilizers market, valued at USD 2.2 billion in 2023, is poised for substantial growth, with projections to reach USD 2.9 billion by 2028, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period from 2023 to 2028. This remarkable expansion is underpinned by the increasing demand for controlled-release fertilizers, which offer a myriad of advantages, including enhanced nutrient efficiency, reduced environmental impact, and alignment with sustainable agricultural practices, thereby addressing the needs of farmers and environmental concerns alike.

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Steady Growth of Slow-Release Fertilizers

The market for slow-release fertilizers has witnessed steady growth due to their inherent benefits in advancing agricultural sustainability and productivity. These fertilizers’ controlled and gradual nutrient release aligns seamlessly with precision agriculture techniques, ensuring optimal nutrient uptake by crops while minimizing wastage. This approach has garnered substantial attention as farmers strive to enhance resource management, curtail nutrient runoff, and adhere to stringent environmental regulations. Additionally, the increasing awareness surrounding soil health, preservation of water quality, and the long-term viability of crops has fueled the adoption of these fertilizers, positioning them as a pivotal component of contemporary farming strategies that aim to achieve both economic and environmental objectives.

Non-Agricultural Applications Fuel Market Growth

The non-agricultural sector has played a significant role in propelling the growth of the controlled-release fertilizers market. The urban landscape’s growing reliance on controlled-release fertilizers is poised to drive the market’s expansion. Urban spaces, including golf courses, municipal parks, residential complexes, and other non-agricultural areas, are increasingly seeking sustainable solutions that controlled-release fertilizers can provide. This dominance aligns with the broader trend of urbanization and the corresponding demand for environmentally friendly, efficient, and visually appealing landscaping solutions.

Argentina Emerges as a Key Player in South America

Argentina is poised to emerge as the fastest-growing player in the controlled-release fertilizers market within South America. The country’s steadfast commitment to sustainable farming practices is in harmony with global trends and evolving consumer preferences. Controlled-release fertilizers offer a viable solution to mitigate nutrient runoff, reduce environmental impact, and promote soil health, making them an ideal fit for Argentina’s sustainable agriculture initiatives.

Argentina’s ascendance in the South American controlled-release fertilizers market is bolstered by a convergence of favorable conditions. The nation’s robust agricultural foundation, unwavering dedication to sustainable practices, focus on innovation, and strategic export positioning create an environment conducive to both the production and adoption of controlled-release fertilizers. This dominance is poised to propel continuous growth in the sector as Argentina solidifies its role as a key influencer in reshaping agricultural practices across the region.

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Key Players Leading the Way

Prominent industry players contributing to the controlled-release fertilizers market’s growth include Yara (Norway), Nutrien Ltd. (Canada), Mosaic (US), ICL (Israel), Nufarm (Australia), Kingenta (China), ScottsMiracle-Gro (US), Koch Industries (US), Helena Chemicals (US), and SQM (Chile).

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