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Asia-Pacific Specialty Fertilizer Market Size

The Asia-Pacific specialty fertilizer market is experiencing significant growth, driven by the increasing demand for advanced fertilizers to enhance crop yields. The market's expansion is particularly notable in China and India, where supportive government policies and diverse agricultural needs are fostering adoption. Field crops dominate the market, with a substantial preference for polymer-coated, urea-based controlled-release fertilizers. Fertigation is the leading application method, reflecting the need for efficient nutrient delivery. As soil fertility declines due to continuous cropping, the demand for specialty fertilizers is expected to rise, highlighting the market's potential for sustained growth.

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Market Size of asia-pacific specialty fertilizer Industry

Asia-Pacific Specialty Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 18.74 Billion
svg icon Market Size (2030) USD 27.21 Billion
svg icon Largest Share by Speciality Type Liquid Fertilizer
svg icon CAGR (2024 - 2030) 6.41 %
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 Specialty Fertilizer Market Analysis

The Asia-Pacific Specialty Fertilizer Market size is estimated at 18.74 billion USD in 2024, and is expected to reach 27.21 billion USD by 2030, growing at a CAGR of 6.41% during the forecast period (2024-2030).

18.74 Billion

Market Size in 2024 (USD)

27.21 Billion

Market Size in 2030 (USD)

6.52 %

CAGR (2017-2023)

6.41 %

CAGR (2024-2030)

Largest segment by Speciality Type

55.67 %

value share, Liquid Fertilizer, 2023

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Dominance of liquid fertilizers is due to their ability to seep quickly through the soil profile resulting in more nutrient availability and deeper penetration of nutrients.

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 Crop Type

8.71 %

Projected CAGR, Turf & Ornamental, 2024-2030

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The rising interest in landscaping, golf courses, indoor gardening, and the increased demand for locally grown attractive flowers will drive the segment's growth.

Largest segment by Country

75.32 %

value share, China, 2023

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

Leading Market Player

2.91 %

market share, Yara International ASA, 2022

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Yara International has became a market leader by offering a wide range of specialty fertilizers including CRF, SRF, foliar, liquid, micronutrients and complex fertilizers

The growing demand for specialty fertilizers to improve productivity is strengthening the growth of the market

  • During the study period, the specialty fertilizers market in the region witnessed a robust growth of 94.2%. Moving forward, the market is projected to maintain a steady CAGR of 6.2%.
  • In 2022, China, India, and Japan commanded the market, accounting for 78.9%, 5.6%, and 2.5% of its value, respectively. Notably, China emerged as both the leading producer and consumer of specialty fertilizers in the region. The market's focus on China and India is driven by their sizable populations, ample land availability, diverse climatic regions, and supportive government policies, including fertilizer trials.
  • Field crops took the lion's share in 2022, capturing 72.3% of the market. Among these crops, the demand for polymer-coated, urea-based controlled-release fertilizers was particularly high, constituting 58.7% of the market. The use of poly-coated urea aids in bridging the gap between soil nitrogen availability and plant nitrogen demand, leading to a rising adoption of advanced fertilizers like these.
  • Fertigation emerged as the dominant fertilizer application method, accounting for 70.4% of all applications. This preference can be attributed to the drawbacks of foliar fertilizers, which, if not applied correctly, can harm plants. The market share of foliar application stands at 35.4%.
  • Driven by the desire to maximize crop yields per hectare, farmers have increasingly turned to specialized fertilizers like liquid, water-soluble, and controlled-release variants. This growing demand underscores the market's future potential.
Asia-Pacific Specialty Fertilizer Market

The intensive cultivation is driving the demand for specialty fertilizers

  • In 2022, field crops held the largest share of the Asia-Pacific specialty fertilizers market, representing 83.5% of the total consumption volume. Horticultural crops trailed behind at 15.8%, while turf & ornamentals lagged at less than 1%. China emerged as the leader in the field crops segment, commanding 33.1% of the specialty fertilizer market's value, followed by India at 23.8%, Indonesia at 7.0%, Australia at 5.6%, and Japan at 4.0%.
  • China's specialty fertilizer market, primarily driven by crops like rice, wheat, and maize, accounted for a staggering 78.4% of Asia-Pacific's total specialty fertilizer market value in 2022.
  • India, the second-largest fertilizer consumer in Asia-Pacific, witnessed a significant uptick in the specialty fertilizer market. From USD 1.31 billion in 2022, the market is projected to reach USD 1.76 billion by 2030. Specialty fertilizers, tailored to specific soil and plant conditions, are designed to elicit targeted responses, enhancing plant growth and productivity.
  • Japan's specialty fertilizer market held a 15.9% share of the Asia-Pacific market in 2022. The country's key agricultural crops encompass rice, soybean, wheat, and barley.
  • With Asia-Pacific's soils losing fertility due to continuous cropping, the region is facing challenges in sustaining cultivation. This scenario is expected to bolster the demand for specialty fertilizers, which offer precise nutrition delivery with minimal environmental impact.

Asia-Pacific Specialty Fertilizer Industry Segmentation Asia-Pacific Specialty Fertilizer Industry Segmentation

CRF, Liquid Fertilizer, SRF, Water Soluble are covered as segments by Speciality Type. 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.

  • During the study period, the specialty fertilizers market in the region witnessed a robust growth of 94.2%. Moving forward, the market is projected to maintain a steady CAGR of 6.2%.
  • In 2022, China, India, and Japan commanded the market, accounting for 78.9%, 5.6%, and 2.5% of its value, respectively. Notably, China emerged as both the leading producer and consumer of specialty fertilizers in the region. The market's focus on China and India is driven by their sizable populations, ample land availability, diverse climatic regions, and supportive government policies, including fertilizer trials.
  • Field crops took the lion's share in 2022, capturing 72.3% of the market. Among these crops, the demand for polymer-coated, urea-based controlled-release fertilizers was particularly high, constituting 58.7% of the market. The use of poly-coated urea aids in bridging the gap between soil nitrogen availability and plant nitrogen demand, leading to a rising adoption of advanced fertilizers like these.
  • Fertigation emerged as the dominant fertilizer application method, accounting for 70.4% of all applications. This preference can be attributed to the drawbacks of foliar fertilizers, which, if not applied correctly, can harm plants. The market share of foliar application stands at 35.4%.
  • Driven by the desire to maximize crop yields per hectare, farmers have increasingly turned to specialized fertilizers like liquid, water-soluble, and controlled-release variants. This growing demand underscores the market's future potential.
Speciality Type
CRF
Polymer Coated
Polymer-Sulfur Coated
Others
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 Specialty Fertilizer Market Size Summary

The Asia-Pacific specialty fertilizer market is experiencing significant growth, driven by the increasing demand for advanced agricultural solutions to enhance crop yields. This market is characterized by a robust expansion, with key players like China, India, and Japan leading in both production and consumption. The region's diverse climatic conditions, substantial land availability, and supportive government policies are pivotal in fostering this growth. Specialty fertilizers, particularly polymer-coated, urea-based controlled-release variants, are gaining traction due to their ability to optimize nitrogen availability for plants, thereby bridging the gap between soil nutrient levels and plant requirements. The dominant application method in the region is fertigation, which is preferred over foliar applications due to its efficiency and reduced risk of plant damage.

Field crops, especially rice, wheat, and maize, dominate the specialty fertilizer market in Asia-Pacific, with China and India being the largest consumers. The rising demand for these staple crops, coupled with the expansion of cultivated areas, is expected to drive the market further. The region's soils are facing fertility challenges due to continuous cropping, which is anticipated to bolster the demand for specialty fertilizers that offer precise nutrient delivery with minimal environmental impact. The market is fragmented, with major players like Coromandel International Ltd., Huaqiang Chemical Group Stock Co., Ltd., ICL Group Ltd, Sociedad Quimica y Minera de Chile SA, and Yara International ASA playing significant roles. Strategic partnerships and innovations, such as the introduction of coated micronutrients, are enhancing the product offerings and addressing the evolving needs of the agricultural sector in Asia-Pacific.

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Asia-Pacific Specialty Fertilizer 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 Speciality Type

      1. 1.1.1 CRF

        1. 1.1.1.1 Polymer Coated

        2. 1.1.1.2 Polymer-Sulfur Coated

        3. 1.1.1.3 Others

      2. 1.1.2 Liquid Fertilizer

      3. 1.1.3 SRF

      4. 1.1.4 Water Soluble

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

    4. 1.4 Country

      1. 1.4.1 Australia

      2. 1.4.2 Bangladesh

      3. 1.4.3 China

      4. 1.4.4 India

      5. 1.4.5 Indonesia

      6. 1.4.6 Japan

      7. 1.4.7 Pakistan

      8. 1.4.8 Philippines

      9. 1.4.9 Thailand

      10. 1.4.10 Vietnam

      11. 1.4.11 Rest of Asia-Pacific

Asia-Pacific Specialty Fertilizer Market Size FAQs

The Asia-Pacific Specialty Fertilizer Market size is expected to reach USD 18.74 billion in 2024 and grow at a CAGR of 6.41% to reach USD 27.21 billion by 2030.

In 2024, the Asia-Pacific Specialty Fertilizer Market size is expected to reach USD 18.74 billion.

APAC Specialty Fertilizer Market Report Snapshots

Asia-Pacific Specialty Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts UP TO 2030