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Asia-Pacific Fertilizers Market Size

The Asia-Pacific fertilizers market is projected to experience significant growth, driven by the dominant field crop sector, which constitutes a major portion of the market size. The region's extensive agricultural land, particularly in China and India, supports the intensive cultivation of key crops like rice, wheat, and soybean, necessitating substantial fertilizer use to replenish soil nutrients. The increasing demand for horticultural crops further contributes to the market's expansion. Government support for agricultural advancements and the need to address food security challenges amid changing climatic conditions are pivotal in shaping the market's growth trajectory.

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Market Size of asia-pacific fertilizers Industry

Asia-Pacific Fertilizers Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 167.2 Billion
svg icon Market Size (2030) USD 240.5 Billion
svg icon Largest Share by Crop Type Field Crops
svg icon CAGR (2024 - 2030) 6.24 %
svg icon Largest Share by Country China
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Asia-Pacific Fertilizers Market Analysis

The Asia-Pacific Fertilizers Market size is estimated at 167.2 billion USD in 2024, and is expected to reach 240.5 billion USD by 2030, growing at a CAGR of 6.24% during the forecast period (2024-2030).

167.2 Billion

Market Size in 2024 (USD)

240.5 Billion

Market Size in 2030 (USD)

6.69 %

CAGR (2017-2023)

6.24 %

CAGR (2024-2030)

Largest segment by Product

51.47 %

value share, Urea, 2023

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Given the region's heavy reliance on agriculture, countries are bolstering the sector through diversification and multi-cropping initiatives, potentially driving up urea demand.

Largest Segment by Crop Type

81.97 %

value share, Field Crops, 2023

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Field crops dominated in fertilizers consumption because they are grown intensively, depleting soil nutrients and necessitating the use of more fertilizers to compensate.

Fastest Growing Speciality Type

7.17 %

Projected CAGR, CRF, 2024-2030

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The region's increasing emphasis on ecologically safe fertilizers is a key driver behind the surge in demand for new controlled-release options.

Largest segment by Country

33.47 %

value share, China, 2023

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Large area under cultivation, a growing population, and the need for food and nutritional security may drive the fertilizer market in China during the forecast period.

Leading Market Player

1.65 %

market share, Sinofert Holdings Limited, 2022

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Sinofert has emerged as a market leader by developing about 60 types of compound and mixed fertilizers according to different climates, soils, and planting practices.

Intensive cultivation and soil nutrient depletion increase fertilizer consumption

  • The Asia-Pacific fertilizer market is dominated by field crops, which make up around 81.5% of the overall fertilizer market. Field crop production accounts for more than 90.0% of the region's total agricultural land. The major field crops produced in the region are rice, wheat, soybean, rapeseed/canola, and cotton. Generally, field crops consume the most nitrogen fertilizers. Because grains and cereals are grown intensively, they deplete soil nutrients, necessitating the use of more fertilizers to compensate.
  • In 2022, horticultural crops constituted 17.9% of the region's fertilizer market value. China and India command over 70.0% of the horticultural crop production area in the region. The rising demand for fresh fruits and vegetables, coupled with efforts to meet this demand, is poised to propel the horticultural crop market.
  • China and India, with their abundant arable land and sizable populations, stand out as key agricultural players in the Asia-Pacific. The government's significant financial support for agricultural mechanization and productivity enhancement further bolsters this growth trajectory.
  • The region has witnessed a notable uptick in cultivation area, with a 10.5 million ha expansion from 2017 to 2022. Agriculture employs a fifth of the region's population and occupies more than half of its land, making it a vital contributor to the Asia-Pacific economy. The imperative to enhance food security, coupled with evolving climatic conditions and soil nutrient challenges, is poised to fuel the fertilizer market in the region.
Asia-Pacific Fertilizers Market

The growing population's need for higher food production and productivity may drive the market

  • According to the USDA, China, the world's largest fertilizer producer and exporter, accounted for 25% of global fertilizer production. In 2022, the Chinese fertilizer market was valued at USD 70.3 billion, with a consumption of 94.2 million metric tons.
  • India, the world's second-largest fertilizer consumer, consumed 81.4 million metric tons in 2022. Despite being the third-largest global producer, India relies on imports for 25% of its urea, 55% of its phosphorus, and 100% of its potash annually.
  • The Indonesian agricultural sector has been experiencing a considerable expansion, which has led to an increase in arable land. This, in turn, has boosted the country's agricultural production, making it an essential player in the region's agricultural industry. As a result, Indonesia has become the third-largest consumer in terms of market value and volume consumption, accounting for 5.6% of the value and 6.7% of volume in the region.
  • In 2022, Pakistan held a 4.2% share in the Asia-Pacific fertilizer market. Field crops dominated fertilizer consumption, accounting for 86.3% of the volume, followed by horticultural crops at 13.5% and turf & ornamental crops at a negligible 0.1%. This trend can be attributed to the larger land area dedicated to field crops.
  • The market is expected to be driven by factors such as the growing population's need for higher food production and productivity, especially since the area available for cultivation is decreasing. Additionally, the adoption of advanced cultivation methods will increase the usage of both conventional and specialty fertilizers.

Asia-Pacific Fertilizers Industry Segmentation

Complex, Straight are covered as segments by Type. Conventional, Speciality are covered as segments by Form. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Australia, Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, Thailand, Vietnam are covered as segments by Country.

  • The Asia-Pacific fertilizer market is dominated by field crops, which make up around 81.5% of the overall fertilizer market. Field crop production accounts for more than 90.0% of the region's total agricultural land. The major field crops produced in the region are rice, wheat, soybean, rapeseed/canola, and cotton. Generally, field crops consume the most nitrogen fertilizers. Because grains and cereals are grown intensively, they deplete soil nutrients, necessitating the use of more fertilizers to compensate.
  • In 2022, horticultural crops constituted 17.9% of the region's fertilizer market value. China and India command over 70.0% of the horticultural crop production area in the region. The rising demand for fresh fruits and vegetables, coupled with efforts to meet this demand, is poised to propel the horticultural crop market.
  • China and India, with their abundant arable land and sizable populations, stand out as key agricultural players in the Asia-Pacific. The government's significant financial support for agricultural mechanization and productivity enhancement further bolsters this growth trajectory.
  • The region has witnessed a notable uptick in cultivation area, with a 10.5 million ha expansion from 2017 to 2022. Agriculture employs a fifth of the region's population and occupies more than half of its land, making it a vital contributor to the Asia-Pacific economy. The imperative to enhance food security, coupled with evolving climatic conditions and soil nutrient challenges, is poised to fuel the fertilizer market in the region.
Type
Complex
Straight
Micronutrients
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Nitrogenous
Ammonium Nitrate
Anhydrous Ammonia
Urea
Others
Phosphatic
DAP
MAP
SSP
TSP
Others
Potassic
MoP
SoP
Others
Secondary Macronutrients
Calcium
Magnesium
Sulfur
Form
Conventional
Speciality
CRF
Liquid Fertilizer
SRF
Water Soluble
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
Country
Australia
Bangladesh
China
India
Indonesia
Japan
Pakistan
Philippines
Thailand
Vietnam
Rest of Asia-Pacific
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Asia-Pacific Fertilizers Market Size Summary

The Asia-Pacific fertilizers market is experiencing significant growth, driven by the region's extensive agricultural activities, particularly in field crops such as rice, wheat, and cotton. These crops dominate the agricultural landscape, necessitating substantial fertilizer use to replenish soil nutrients depleted by intensive cultivation. The market is further bolstered by the rising demand for horticultural crops, especially in China and India, where efforts to meet the increasing need for fresh produce are expanding the cultivation area. The region's agricultural sector, supported by government initiatives and financial backing, plays a crucial role in the economy, with a focus on enhancing food security amid evolving climatic conditions and soil nutrient challenges.

China and India are pivotal players in the Asia-Pacific fertilizers market, with China being the largest global producer and exporter of fertilizers. The region's demand for primary nutrients, particularly nitrogen and potassium, is high due to prevalent soil deficiencies. The market is characterized by a shift towards highly efficient fertilizers to mitigate environmental concerns related to nutrient runoff. Despite the fragmented nature of the market, with major companies like Coromandel International Ltd. and Yara International ASA holding significant shares, strategic partnerships and product innovations are shaping the competitive landscape. The expansion of arable land and the adoption of advanced cultivation methods are expected to further drive fertilizer consumption in the coming years.

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Asia-Pacific Fertilizers Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Complex

      2. 1.1.2 Straight

        1. 1.1.2.1 Micronutrients

          1. 1.1.2.1.1 Boron

          2. 1.1.2.1.2 Copper

          3. 1.1.2.1.3 Iron

          4. 1.1.2.1.4 Manganese

          5. 1.1.2.1.5 Molybdenum

          6. 1.1.2.1.6 Zinc

          7. 1.1.2.1.7 Others

        2. 1.1.2.2 Nitrogenous

          1. 1.1.2.2.1 Ammonium Nitrate

          2. 1.1.2.2.2 Anhydrous Ammonia

          3. 1.1.2.2.3 Urea

          4. 1.1.2.2.4 Others

        3. 1.1.2.3 Phosphatic

          1. 1.1.2.3.1 DAP

          2. 1.1.2.3.2 MAP

          3. 1.1.2.3.3 SSP

          4. 1.1.2.3.4 TSP

          5. 1.1.2.3.5 Others

        4. 1.1.2.4 Potassic

          1. 1.1.2.4.1 MoP

          2. 1.1.2.4.2 SoP

          3. 1.1.2.4.3 Others

        5. 1.1.2.5 Secondary Macronutrients

          1. 1.1.2.5.1 Calcium

          2. 1.1.2.5.2 Magnesium

          3. 1.1.2.5.3 Sulfur

    2. 1.2 Form

      1. 1.2.1 Conventional

      2. 1.2.2 Speciality

        1. 1.2.2.1 CRF

        2. 1.2.2.2 Liquid Fertilizer

        3. 1.2.2.3 SRF

        4. 1.2.2.4 Water Soluble

    3. 1.3 Application Mode

      1. 1.3.1 Fertigation

      2. 1.3.2 Foliar

      3. 1.3.3 Soil

    4. 1.4 Crop Type

      1. 1.4.1 Field Crops

      2. 1.4.2 Horticultural Crops

      3. 1.4.3 Turf & Ornamental

    5. 1.5 Country

      1. 1.5.1 Australia

      2. 1.5.2 Bangladesh

      3. 1.5.3 China

      4. 1.5.4 India

      5. 1.5.5 Indonesia

      6. 1.5.6 Japan

      7. 1.5.7 Pakistan

      8. 1.5.8 Philippines

      9. 1.5.9 Thailand

      10. 1.5.10 Vietnam

      11. 1.5.11 Rest of Asia-Pacific

Asia-Pacific Fertilizers Market Size FAQs

The Asia-Pacific Fertilizers Market size is expected to reach USD 167.23 billion in 2024 and grow at a CAGR of 6.24% to reach USD 240.52 billion by 2030.

In 2024, the Asia-Pacific Fertilizers Market size is expected to reach USD 167.23 billion.

Asia-Pacific Fertilizers Market Report Snapshots

Asia-Pacific Fertilizers Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030