Asia-Pacific: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Asia-Pacific

The Asia-Pacific animal or vegetable fertilisers market shrank modestly to $X in 2023, waning by X% against the previous year. The total consumption indicated pronounced growth 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 failed to regain momentum.

Production of Animal Or Vegetable Fertilisers in Asia-Pacific

In value terms, animal or vegetable fertilisers production reduced slightly to $X in 2023 estimated in export price. The total production indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. 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% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

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Exports of Animal Or Vegetable Fertilisers

Exports in Asia-Pacific

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. Over the period under review, exports, however, showed strong growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked at X tons in 2022, and then contracted in the following year.

In value terms, animal or vegetable fertilisers exports reduced notably to $X in 2023. Total exports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then declined markedly in the following year.

Exports by Country

Japan was the main exporter of animal or vegetable fertilisers in Asia-Pacific, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Vietnam (X tons), China (X tons), South Korea (X tons) and Indonesia (X tons), together achieving a X% share of total exports. The following exporters - Australia (X tons) and India (X tons) - each amounted to an X% share 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, Australia (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, Australia and South Korea increased by X, X and X percentage points, respectively. 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 Asia-Pacific were Japan ($X), China ($X) and India ($X), together comprising X% of total exports.

Among the main exporting countries, Japan, 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

The export price in Asia-Pacific stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price recorded a noticeable contraction. The most prominent rate of growth was recorded 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 stood 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 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-Pacific

In 2023, overseas purchases of animal or vegetable fertilisers decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2018 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, animal or vegetable fertilisers imports shrank to $X in 2023. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2018 with an increase of X%. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

Vietnam dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Taiwan (Chinese) (X tons), Japan (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons), together achieving a X% share of total imports. South Korea (X tons), Pakistan (X tons) and Nepal (X tons) followed a long way behind the leaders.

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%) 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.), 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 ($X) constitutes the largest market for imported animal or vegetable fertilisers in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Myanmar, 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: Japan (X% per year) and Myanmar (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price recorded a mild downturn. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat 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 Pakistan ($X per ton), while Vietnam ($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