Controlled Release Fertilizer Market size worth $ 4895.6 Million, Globally, by 2030 at 6.91% CAGR

Verified Market Research

The rising population along with high food demand as well as the rapidly flourishing agriculture sector is expected to contribute to the growth of the Controlled Release Fertilizer Market over the forecast period.

JERSEY CITY, N.J., May 26, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Controlled Release Fertilizer Market" By Type (Slow release, Coated and encapsulated, N-stabilizers), By Application (Cereals and Grains, Oilseeds and Pulses, Turfs and Ornamentals), and By Geography. According to Verified Market Research, Controlled Release Fertilizer Market size was valued at USD 2708.4 Million in 2021 and is projected to reach USD 4895.6 Million by 2030, growing at a CAGR of 6.91% from 2022 to 2030.

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Global Controlled Release Fertilizer Market Overview

The rising population, increasing demand for food along with high demand from agricultural industries is anticipated to drive the Controlled Release Fertilizer Market over the forecast period. According to The Food and Agriculture Organization of the United Nations (FAO), total fertilizer nutrient demand is expected to reach 201.66 million tons by 2021. The nitrogen, potassium, and phosphorus used as fertilizer accounted for 110193, 39 473, and 48 264 thousand tons in 2021. Increasing demand for fertilizers is expected to positively impact the Controlled Release Fertilizer Market over the forecast period.

There are several benefits associated with the use of these fertilizers, including potential reduction of environmental impact, comparatively lower application costs than water-soluble fertilizers, and ease of use. The use of CRF eliminates the need for mixing and monitoring water-soluble fertilizers, as well as reduces the need for expensive injection equipment, thereby reducing labor costs. Furthermore, it also eradicates the occurrence of improper mixing of water-soluble fertilizer in the stock solution, responsible for the reduction in crop quality.