Rockville, MD , Dec. 26, 2024 (GLOBE NEWSWIRE) — The climate smart fertilizer market is expected to grow from US$ 2,380.0 million in 2024 to US$ 4,110.5 million in 2034. Fact. MR’s extensive study shows that the market will expand at a growth rate of 5.6% from 2024 to 2034.
The Climate Smart Fertilizer market is a step change in global agriculture because it addresses the twin concerns of feeding a growing world population and reducing environmental footprint.
The market incorporates a variety of innovative products, including controlled-release fertilizers, bio-based solutions, and microbial formulations. In turn, high environmental standards and growing sustainability concerns are propelling growth in the market. International organizations and governments also implement policies, provide research incentives, and offer subsidies that promote climate-smart agricultural inputs.
Improving technologies of precision farming include using GPS-enabled equipment, among other things, while providing instruments to track the soil health. Such allows an efficient use of climate smart fertilizers as well and an integral part of agriculture now. The main applications are cereal and grain production, which are enhanced by the better nutrient management that these fertilizers offer.
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Key Takeaways from Market Study
- Global climate smart fertilizer market will grow at a CAGR of 5.6%, reaching US$ 4,110.5 million by the end of 2034.
- East Asia will expand at a CAGR of 5.9% from 2024 to 2034, capturing 26.1% of the market share in 2024 and offering an absolute opportunity of US$ 481.7 million.
- North America will account for 24.2% of market share in 2024, generating an absolute dollar opportunity of US$ 421.0 million between 2024 and 2034.
- Between 2024 and 2034, the Slow-release fertilizers (SRF) Technology classification is expected to produce an absolute dollar opportunity US$ 429.7 million.
- With a 27.1% market share, the Nitrogen-based smart fertilizers chemical composition segment is estimated to be worth US$ 645.9 million in 2024.
“ The Climate Smart Fertilizer market is rapidly changing with ever-increasing demand for sustainability in agriculture solutions”, says a Fact.MR analyst.
Leading Players Driving Innovation in the Climate Smart Fertilizer Market:
Yara International; Nutrien Ltd.; ICL Group; Koch Agronomic Industries; Haifa Group; OCI N.V.; CF Industries; Mosaic Company; Verdesian Life Sciences; UPL Limited; Ostara Nutrient Recovery; Kingenta Ecological; SQM; EuroChem Group; Compass Minerals; Other Prominent Players
Market Development:
Key companies like Yara International, Nutrien Ltd., ICL Group, Koch Agronomic Industries, Haifa Group, OCI N.V., CF Industries, Mosaic Company, Verdesian Life Sciences, UPL Limited, Ostara Nutrient Recovery, Kingenta Ecological, SQM, EuroChem Group, Compass Minerals among other prominent players. are propelling the market growth.
These prominent companies used a variety of primary strategies, such as product releases, mergers and acquisitions, expansions, and deals, to strengthen their positions in the electronic chemicals and materials market. Major attention was paid to the deals and expansions.
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Climate Smart Fertilizer Market News:
- In September 2024, Yara International emphasised the importance of Europe implementing low-carbon bread solutions by transitioning to green ammonia, derived from clean hydrogen, to cut fertiliser emissions.
- Nutrien boosted its 2024 potash sales volume forecast in November 2024, citing robust worldwide demand and strengthened distribution agreements. Nutrien also emphasised its investment in innovation to create better nutrient solutions.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Climate smart fertilizer market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on resin type (acrylic, polyurethane, epoxy, others), application (automotive, textiles, paper & packaging, others) and across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, East Asia, and the Middle East & Africa).
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Foliar fertilizers are an excellent alternative to provide nourishment to plants and many more benefits as it can be applied directly to the leaves of plants and crops. Foliar fertilizers market is accelerating on the back of efficient nutrient absorption along with high resistivity towards insects and pests.
Organic Water Soluble Fertilizers are the substances, which increase the crop yield by supplying crops with additional nutrients that the soil lacks. Organic Water Soluble Fertilizers are dissolved in water and are applied to crops at the base or foliage during the growing season.
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