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APAC Fertilizer Market Size Worth Over $104.5 Bn by 2026

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According to the Graphical Research new growth forecast report titled “Asia Pacific Fertilizer Market Size By Form (Liquid, Dry), 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 Application (Horticulture, Agriculture, Gardening, Others)”, to Surpass $104.5 Bn by 2026.

Rising demand for food in the region, growing preference for organic fertilizer, and emerging demand for water-soluble fertilizers to propel the APAC fertilizer market growth in the forecast period.

The rising demand for food across the Asia Pacific due to increasing population coupled with changing food consumption patterns and limited farming is anticipated to drive the APAC fertilizer market size over the forecast timeframe. In 2019, the population in the Asia Pacific reached 4.3 billion which accounted for 60% of the world’s population, where China registered as the most populous country followed by India. According to the UN Populous Division, the population is likely to cross 5 billion by 2050. Hence, this trend has showcased a higher requirement for food security in the region.

Food Safety to Drive the Demand for Organic Fertilizer

Growing consumer concerns about food safety and changing food consumption patterns with a preference for chemical-free food will drive the demand for organic fertilizers over the study timeframe. The growing trend towards more transparency in food items, such as the used chemicals, pesticides, and food preservatives and rising health issues, such as blood pressure, diabetes, and heart problems, are influencing the food choices of consumers.

Organic fertilizers are also in demand for their soil improving properties. These fertilizers enhance the soil structure, help microbes to thrive, reduce the usage of fertilizers & pesticides, and minimize plant damage threats. The ingredients present in organic fertilizers aid in improving the soil’s ability to hold onto nutrients and water.

Moreover, the growing water scarcity along with developments in the irrigation system and spay application equipment will provide significant growth opportunities to Water Soluble Fertilizers (WSFs). The Asia Pacific is one of the worst-hit countries by water scarcity. According to a 2019 report by the World Resources Institute, of the 17 most water-stressed nations, two countries-India and Pakistan are in Asia. The water scarcity will have a significant impact throughout the region, as per a report by Asia Society Leadership Group. Despite the large share of the population, the region offers only around 3,920 cubic meters of freshwater per person per year which is less than any other continent except Antarctica. Asia's population is expected to increase by over 500 million in the next two decades, however, the rural population is likely to be the same but the population in urban regions is expected to grow by a staggering 60%. This trend is anticipated to generate high food demand and thereby, creating more demand for water-soluble fertilizers.

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

APAC Fertilizer Market, By Form

·      Liquid

·      Dry

APAC Fertilizer Market, By Product

·      Inorganic

o  Nitrogen

·      Anhydrous Ammonia

·      Urea

·      CAN

·      UAN Solution

·      Ammonium Sulfate

o  Phosphorus

·      Monoammonium Phosphate

·      Diammonium Phosphate

·      Triple Superphosphate

·      Ammonium Polyphosphate

·      Ordinary Superphosphate

·      Others

o  Potassium

·      Potassium Sulfate

·      Potassium Chloride

·      Potassium Nitrate

·      Organic

o  Animal-based

o  Plant-based

o  Mineral-based

APAC Fertilizer Market, By Application

·      Horticulture

·      Agriculture

·      Gardening

·      Others

The above market analysis is available for the following countries:

·      Asia Pacific

o  China

o  Pakistan

o  India

o  Indonesia

o  Bangladesh

o  Thailand

o  Malaysia

o  Australia

o  Rest of APAC