Asia: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Asia

The Asian animal or vegetable fertilisers market declined slightly to $X in 2023, remaining stable against the previous year. The total consumption indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Animal Or Vegetable Fertilisers in Asia

In value terms, animal or vegetable fertilisers production fell slightly to $X in 2023 estimated in export price. The total production indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Exports of Animal Or Vegetable Fertilisers

Exports in Asia

In 2023, shipments abroad of animal or vegetable fertilisers decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2022, and then declined markedly in the following year.

In value terms, animal or vegetable fertilisers exports fell significantly to $X in 2023. Total exports indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then fell dramatically in the following year.

Exports by Country

Japan represented the largest exporting country with an export of around X tons, which recorded X% of total exports. Vietnam (X tons) took the second position in the ranking, followed by China (X tons), South Korea (X tons) and Indonesia (X tons). All these countries together took near X% share of total exports. The following exporters - India (X tons) and Turkey (X tons) - together made up X% of total exports.

Japan was also the fastest-growing in terms of the animal or vegetable fertilisers exports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%), India (X%), South Korea (X%) and Vietnam (X%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Japan, Turkey, South Korea and India increased by X, X, X and X percentage points, respectively.

In value terms, Japan ($X), China ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Vietnam, Turkey, South Korea and Indonesia lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a 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 India ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Imports of Animal Or Vegetable Fertilisers

Imports in Asia

In 2023, purchases abroad of animal or vegetable fertilisers decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, animal or vegetable fertilisers imports declined to $X in 2023. Over the period under review, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then fell in the following year.

Imports by Country

Vietnam prevails in imports structure, accounting for X tons, which was near X% of total imports in 2023. It was distantly followed by Taiwan (Chinese) (X tons), Japan (X tons) and Palestine (X tons), together generating a X% share of total imports. The following importers - Myanmar (X tons), Lao People's Democratic Republic (X tons), South Korea (X tons), Pakistan (X tons), Nepal (X tons) and India (X tons) - together made up X% 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, Nepal (X%), Myanmar (X%), Pakistan (X%), India (X%), Palestine (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Myanmar (X p.p.), Palestine (X p.p.), Pakistan (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Taiwan (Chinese) (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported animal or vegetable fertilisers in Asia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In Vietnam, animal or vegetable fertilisers imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price continues to indicate a slight slump. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform