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    Asia Pacific Fertilizer Market Forecast 2028 By Form (Dry, Liquid), By Application (Agriculture, Horticulture, Gardening), By Product (Organic, Inorganic), Research Report, Country Outlook, (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: July 2022   |   Report ID: GR1616   |   Delivery: PDF  Request Free Sample

    Asia Pacific Fertilizer Market size exceeded USD 97.4 billion in 2021 and is poised to showcase around 2% CAGR from 2022 to 2028.

    The Asia Pacific region is home to countries with the highest population rates in the world. To this end, regional governments have been focusing on improving the quality and quantity of crop yields to cater to the ever-expanding population base. According to the Ministry of Agriculture and Rural Affairs of the People’s Republic of China, the national per capita grain share was estimated at 483 kilograms during 2021, about 20.75% higher than internationally recognized security standard of 400 kg.

    Asia Pacific Fertilizer Market

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    Food consumption behaviors are changing amongst regional consumers, especially after the COVID-19 health emergency. More individuals are opting for healthier food than before the pandemic. They have been showing greater inclination toward chemical-free products. As such, numerous companies have been developing organic products that have minimal negative impact on soil quality.

    Regional consumers have become more conscious about the transparency in product labeling practices. In this regard, during 2020, the government of Indonesia passed a regulation enforcing assessment and registration of all biofertilizers, soil enhancers, and organic fertilizers. This move will ensure highest safety, efficiency, and quality standards, at the same time protecting consumers.

    Growing health concerns, such as heart conditions, kidney failures, abnormal blood pressure, have been affecting the food decisions of the regional consumers. According to the Australian Government’s Department of Health, coronary heart disease is the top cause of disease burden mortality in the nation, leading to over 11% of total deaths. Due to the higher awareness regarding lifestyle choices associated with these health conditions, individuals are consuming more fresh agricultural produce.

    Asia Pacific Fertilizer Market, By Form

    The liquid segment is expected to show an upward curve in the market over the next few years. Several regional farmers have ben sprinkling and spraying water-soluble fertilizers in their fields to accelerate nutrient uptake of plants. Over the next decade, products that help maintain NPK nutrient balance will be widely adopted in the region, as they are compatible with all types of pesticides.

    Asia Pacific Market, By Product

    The organic fertilizer market will reach USD 2.8 billion revenue by 2028. Product benefits, such as retention of soil health, minimal damage to plants, and higher sustainability are strengthening product use. Since these products are rich in organic matter, they help microbes thrive, thereby improving nutrient access for plants. As more product formulations include nitrogen, phosphorous, and potassium (NPK) mixes, mineral-based organic fertilizers industry will continue to grow.

    Asia Pacific Market, By Application

    Asia Pacific dry fertilizer market share from the horticulture segment will demonstrate remarkable growth through 2028. Governments have been supporting the horticulture sector by sanctioning subsidies, incentives, and funds. Recently, in June 2022, in order to fortify the horticulture value chain across Indian province of Haryana, the state government had approved Japan International Cooperation Agency’s funding scheme worth over USD 328 million. With this collaboration, the domestic market will address consumer needs, at the same time ensuring adequate exports of fruits and vegetables.

    Competitive Industry Landscape

    Some of the leading companies involved in the Asia Pacific fertilizer market are Yara International ASA, National Fertilizers Ltd., Haifa Group, Coromandel International Limited, Bunge Limited, Nutrien Ltd., Indian Farmers Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Syngenta Group, and Sumitomo Chemical Company, Ltd.

    These companies have been signing contracts to cater to gardening, agriculture, and horticulture applications, among others. In the coming years, the companies will focus on expanding their production capacity in a bid to avoid long-standing shortages.

    Frequently Asked Question(FAQ) :

    How big is APAC fertilizer market?
    The market size for fertilizer in Asia Pacific was valued at over USD 97.4 billion in 2021 and is expected to record over 2% CAGR between 2022 and 2028.
    Why is Asia Pacific fertilizer industry growing?
    World’s largest population base and changing food consumption behaviors among consumers after the COVID-19 health emergency, which has led to more individuals opting for healthier food and chemical-free products, is driving the demand for organic fertilizers across APAC.
    What are the key factors expanding organic fertilizer demand?
    The market share for organic fertilizers in Asia Pacific will be worth more than USD 2.8 billion by 2028, driven by product benefits such as retention of soil health, minimal damage to plants, and higher sustainability.
    What is the impact of horticulture on Asia Pacific fertilizer sector?
    The horticulture segment will depict an appreciable increase by 2028, driven by efforts of regional governments such as sanctioning subsidies, incentives, and funds for horticulture projects.
    Which companies manufacture fertilizers for the APAC market?
    Yara International ASA, Haifa Group, Coromandel International Limited, Bunge Limited, Nutrien Ltd., Indian Farmers Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Syngenta Group, and Sumitomo Chemical Company, Ltd. are some top fertilizer companies in Asia Pacific.

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