ASEAN: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in ASEAN

After two years of growth, the ASEAN animal or vegetable fertilisers market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Production of Animal Or Vegetable Fertilisers in ASEAN

In value terms, animal or vegetable fertilisers production contracted modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Animal Or Vegetable Fertilisers

Exports in ASEAN

In 2023, after two years of growth, there was significant decline in shipments abroad of animal or vegetable fertilisers, when their volume decreased by X% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, animal or vegetable fertilisers exports shrank to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Vietnam was the largest exporter of animal or vegetable fertilisers in ASEAN, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Indonesia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%). Malaysia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to animal or vegetable fertilisers exports from Vietnam stood at X%. At the same time, Singapore (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Malaysia (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest animal or vegetable fertilisers supplying countries in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), together accounting for X% of total exports. Malaysia and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Animal Or Vegetable Fertilisers

Imports in ASEAN

Animal or vegetable fertilisers imports reduced to X tons in 2023, waning by X% compared with the previous year. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, animal or vegetable fertilisers imports contracted to $X in 2023. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Vietnam dominates imports structure, reaching X tons, which was approx. X% of total imports in 2023. Myanmar (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Lao People's Democratic Republic (X%). Malaysia (X tons) held a minor share of total imports.

Vietnam was also the fastest-growing in terms of the animal or vegetable fertilisers imports, with a CAGR of X% from 2012 to 2023. At the same time, Myanmar (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total imports, while Lao People's Democratic Republic and Malaysia saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported animal or vegetable fertilisers in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Myanmar ($X), with an X% share of total imports. It was followed by Lao People's Democratic Republic, with a X% share.

In Vietnam, animal or vegetable fertilisers imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Myanmar (X% per year) and Lao People's Democratic Republic (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price saw a abrupt curtailment. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform