The Controlled Release Fertilizers Market is expected to reach $4.71 billion by 2030, at a CAGR of 6.4% during the forecast period of 2023 to 2030. The growing concerns regarding environmental safety, favorable government policies and regulations, uniform nutrient application, and rising adoption of precision farming technology are the key factors driving the growth of the controlled release fertilizers market. Furthermore, product innovation in controlled-release technology and strong growth in emerging economies are expected to offer significant opportunities for the players operating in this market.

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Growing Concerns Regarding Environmental Safety to Drive the Growth of the Controlled Release Fertilizers Market

Controlled release fertilizers are designed to release nutrients to plants over an extended period. However, awareness about the adverse effects of agrochemicals on plant physiology, soil quality, animals, and human beings is rising. Also, the extensive use of these synthetic products directly affects the environment as chemical residues from fertilizers may remain in the soil and cause soil pollution, contaminate surface or groundwater, or get released into the atmosphere through vitalization. Residues left in the soil emit ammonia, methane, nitrous oxide, and elemental nitrogen into the environment.

When using controlled release fertilizers on a larger scale, it is important to conduct an environmental impact assessment to identify potential risks and develop appropriate mitigation measures. Controlled release fertilizers should be stored in a dry, cool place to prevent moisture buildup, which can lead to nutrient loss and potential environmental contamination. Proper handling practices should also be followed to prevent spills and accidents.

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Controlled release fertilizers should be applied at the appropriate time in the plant's growth cycle to maximize nutrient uptake and minimize the risk of environmental contamination. Thus, the factors mentioned above can be used to support plant growth while minimizing their impact on the environment while using controlled release fertilizers.

Asia-Pacific: Fastest-growing Regional Market

Based on geography, the global controlled release fertilizers market is divided into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, the Asia-Pacific region is expected to register the fastest growth during the forecast period. The fast growth of this segment is mainly attributed to the increasing organic farming and high-value crops production, growing awareness about the environmental benefits of controlled release fertilizers, increasing mechanization in the agriculture sector, improved irrigation facilities, and support from various organizations and governments to increase cultivation with the use of controlled-release fertilizers.

Key Players

The key players operating in the controlled release fertilizers market include Yara International ASA (Norway), Nutrien Ltd. (Canada), The Mosaic Company (U.S.), ICL Group Ltd. (Israel), Nufarm Ltd. (Australia), Kingenta Ecological Engineering Group Co., Ltd. (China), The Scotts Miracle-Gro Company (U.S.), Koch Industries, Inc. (U.S.), Helena Chemical Company (U.S.), Mivena BV (Netherlands), and Florikan (U.S.).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, end use, mode of application, and geography?
What is the historical market size for controlled release fertilizers across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the controlled release fertilizers market?
Who are the major players in the market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?

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