The rising levels of hunger and food insecurity highlight the urgent need to increase agricultural productivity to ensure food availability. Thus, the increasing demand for enhanced agricultural output while reducing environmental effects is one of the main driving factors.
The global controlled-release fertilizers market is projected to reach USD 2.9 billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028, according to a new report by MarketsandMarkets.
Controlled-release fertilizers are innovative fertilizers that release nutrients gradually over time, aligning with plant needs and minimizing nutrient loss. This offers a myriad of benefits, including improved crop yields, reduced environmental impact, and enhanced resource management.
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The slow-release fertilizer segment is expected to lead the market growth, owing to its widespread adoption in sustainable agricultural practices. Slow-release fertilizers promote nutrient efficiency and reduce runoff, making them an essential tool for farmers seeking to achieve economic and environmental goals simultaneously.
The non-agricultural segment is also emerging as a key driver of market growth, particularly in urban areas. Controlled-release fertilizers are increasingly being used in urban landscaping to maintain lush and visually appealing green spaces while reducing maintenance cycles.
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Argentina is on track to become the fastest-growing market in the South American region, driven by its emphasis on sustainable farming practices and strong agricultural foundation. Controlled-release fertilizers are an integral part of Argentina's sustainable agriculture initiatives, as they help to minimize nutrient runoff, reduce environmental impact, and promote soil health.
Leading companies in the controlled-release fertilizers market 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).
The controlled-release fertilizers market is poised for robust growth, revolutionizing agriculture with sustainability and efficiency at its core.
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