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Asia Pacific Fertilizer Market Size By Product (Inorganic {Nitrogen [Anhydrous Ammonia, Urea, CAN, Ammonium Sulfate, UAN Solution], Phosphorus [Monoammonium Phosphate, Diammonium Phosphate, Triple Superphosphate, Ammonium Polyphosphate, Ordinary Superphosphate, Others], Potassium [Potassium Sulfate, Potassium Chloride, Potassium Nitrate]}, Organic {Animal-Based, Plant-Based, Mineral-Based}), By Form (Liquid, Dry), By Application (Horticulture, Agriculture, Gardening, Others), Industry Study Report, Price Trends, Competitive industry Share, Growth Potential & Forecast, 2020 – 2026
Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1616 | Delivery : PDF  Request Free Sample

Industry Trends

Asia Pacific Fertilizer Market share was valued at USD 99.6 billion at the end of 2019 and is projected to showcase a growth CAGR of 3.3% between 2020 and 2026. Growth is attributable to the increasing food demand, rising population, and emerging demand for water-soluble fertilizer.

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The food consumption patterns are changing in the Asia Pacific region. The transition is majorly due to limited farming, increasing population, and growing food demand. All these factors cumulatively are anticipated to drive the Asia Pacific market size during the forecast period. The Asia Pacific is also the most populous continent in the world with China being the most populated country in the region followed by India. Moreover, considering the growth trend, according to UN Populous Division, by 2050 it is estimated that the population is likely to go over 5 billion.

Furthermore, rising health consciousness, growing consumer concerns about food safety, and shifting preference for chemical-free food will create lucrative growth opportunities for the market players. Consumers are demanding more transparency about the food ingredients, such as used chemicals, pesticides, food preservatives. Additionally, rising health issues, such as blood pressure, kidney failures, heart problems are changing the lifestyle of consumers. In countries like China and Australia, more than 294 million people are living with Cardiovascular disease (CVD), which is making a great impact on the food consumption behavior of people.

China was accounted for the largest revenue-generating segment in the Asia Pacific while holding almost 41% of the market share in 2019. The other countries which generate the major demand for fertilizers include India, Pakistan, Vietnam, and Bangladesh. In addition, investment inflows and government subsidies in the fertilizers sector are likely to elevate the product demand in the region.

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Based on form, dry fertilizer has been found to showcase robust growth potential over the forecast years. The growth can be predicted based on its cost-effectiveness and easy storing properties. Also, these fertilizers have more efficacy in substantial pre-plant usage owing to their slow properties that support crop feeding for a longer duration in the time of year.

Based on the product, the inorganic fertilizer segment held a major chunk of market share in 2019 and has been anticipated to showcase a steady growth over the prediction period. Among the several types of inorganic fertilizers, nitrogen based ferlizers accounted for over 55.5% market share in 2019. This is because inorganic fertilizers are equally rich in all three essential nutrients, i.e., N-P-K, which are most essential for crops and are always ready for an immediate supply of nutrients to plants when required.

Among all the applications, horticulture managed to hold more than 48% of the industry share, making it the largest application segment in the market and is expected to grow at a reasonable rate by 2026. The extensive demand from the horticulture is attributed to the wide application of fertilizers to produce various fruits and vegetables. Government initiatives to promote horticulture activities across the region will further propel its market size by 2026. For instance, in 2020, the government of India issues guidelines for promotion and formation of Farmer Producer Organizations (FPOs). The initiative was taken considering the potential FPOs hold to promote the horticulture crop production. As per the guidelines, each newly formed FPO will be awarded a grant of INR 1.8 million in the initial years, and INR 1.5 million of salary support and equity grant.

Some of the key players involved in the Asia Pacific market include Haifa Group, Yara International ASA, The Mosaic Company, Nutrien Ltd., Syngenta Group, Bunge Limited, Israel Chemicals Ltd. (ICL), Indian Farmers Fertiliser Cooperative Limited (IFFCO), Coromandel International Limited, Sumitomo Chemical Company, Ltd., National Fertilizers Ltd., and Chambal Fertilisers & Chemicals Ltd (KK Birla), among others.
 

Frequently Asked Question(FAQ) :

The industry share of Asia Pacific Fertilizer is anticipated to grow at 3.3% CAGR between 2020 and 2026.
The market size of Asia Pacific Fertilizer surpassed USD 99.6 billion in 2019.
Some of the key players involved in the Asia Pacific fertilizer market include Haifa Group, Yara International ASA, The Mosaic Company, Nutrien Ltd., Syngenta Group, Bunge Limited, Israel Chemicals Ltd. (ICL), among others.

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