Europe controlled release fertilizers market revenue, which was estimated at USD 170 million in 2015, is forecast to grow at a rate of 2% over the period of 2016-2024.
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Low crop production and fluctuating seasonal cycles have shifted the focus of landowners toward eco-friendly farming, which will positively affect controlled release fertilizers market revenue. Global food requirement is expected to depict a rise of 35% by 2030 and over 75% of the requirement will be satisfied solely by improving the fertility of land. This, in turn, will raise the demand for the resilient fertilizers to enhance the land productivity and increase the production of crops. Cultivable land per individual is estimated at less than 0.2 hectares and the land potency should be 50% to satisfy the global food requirements.
Lawn and garden consumables sector in Asia Pacific is projected to exceed USD 4 billion by 2024. With horticultural activities demanding efficient and eco-friendly fertilizers in countries such as India, China, and Japan, APAC controlled release fertilizers industry is likely to depict a rather steep growth.
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The world is experiencing population explosion at an exponential rate. The arable land is being exhausted with more commercial and residential buildings coming up. The earth resources are being depleted which has driven the demand for controlled release fertilizers. The rising population has increased the demand for food which in turn has propelled the controlled release fertilizers market. The eco-friendly nature of the product has also contributed to the rising trajectory of its demand.
Fertilizers are an integral part of the crop cultivation process. They play an important role According to Food and Agriculture Organization, it is estimated that fertilizers can increase per unit grain produce by 55 – 57%. Governments in countries like China have laid stress on the use of the product which will have a positive impact on the product market over the forecast period. Increased venture funding and private investments in this industry will also have a positive impact on the development of the product market.
Controlled release fertilizers market is expected to enhance the yield of the crops such as oilseeds & pulses, cereals & grains, and fruits & vegetables. Cereals & grains, which produced a revenue of over USD 900 million for controlled release fertilizers industry in 2015, is predicted to grow at a CAGR of 6% over the coming timeframe. Substantial use of cereals & grains in food items is projected to upswing controlled release fertilizers market size.
Market players will try to increase their ROI by implementing key business growth strategies such as strategic collaborations, joint ventures, and product innovations. Many firms have developed new software applications to monitor the crop output and thus expand their business.
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The market for controlled release fertilizers is highly competitive with companies involved in strategic partnerships and mergers. Some of the major companies involved in manufacturing of the product are Greenfeed Agro Sdn Bhd, ATS Group, Israel Chemicals, AgroBridge, Yara International, Haifa Chemicals Ltd., Central Glass Co., Ltd., Eurochem Agro Gmbh, Agrium, Inc., ICL Specialty Fertilizers, Scotts Miracle-Gro, Kingenta Ecological Engineering Group Co., Ltd., etc.
Glimpse of Table of Content (ToC)
Chapter 3 Controlled Release Fertilizers Industry Insights
3.1 Controlled release fertilizers market segmentation
3.2 Controlled release fertilizers market size and growth prospects, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distributor matrix
3.4 Controlled release fertilizers market dynamics
3.4.1 Growth drivers
3.4.1.1 Increasing demand for better yield crops
3.4.1.2 Shift toward sustainable agriculture
3.4.2 Industry pitfalls and challenges
3.4.2.1 Lack of awareness and high cost compared to conventional chemical fertilizers
3.5 Key growth opportunities
3.6 Porter’s analysis
3.7 Company market share analysis, 2015
3.7.1 Strategic landscape
3.8 PESTEL analysis
3.9 Regional price trends
3.9.1 Cost structure analysis
3.9.2 Raw material trends
3.10 Regulatory trends
3.10.1 U.S.
3.10.2 Europe
3.10.3 China
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