Market Size of asia-pacific specialty fertilizer Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 18.74 Billion |
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Market Size (2030) | USD 27.21 Billion |
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Largest Share by Speciality Type | Liquid Fertilizer |
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CAGR (2024 - 2030) | 6.41 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Specialty Fertilizer Market Analysis
The Asia-Pacific Specialty Fertilizer Market size is estimated at 18.74 billion USD in 2024, and is expected to reach 27.21 billion USD by 2030, growing at a CAGR of 6.41% during the forecast period (2024-2030).
18.74 Billion
Market Size in 2024 (USD)
27.21 Billion
Market Size in 2030 (USD)
6.52 %
CAGR (2017-2023)
6.41 %
CAGR (2024-2030)
Largest segment by Speciality Type
55.67 %
value share, Liquid Fertilizer, 2023
Dominance of liquid fertilizers is due to their ability to seep quickly through the soil profile resulting in more nutrient availability and deeper penetration of nutrients.
Fastest Growing Speciality Type
7.17 %
Projected CAGR, CRF, 2024-2030
The region's increasing emphasis on ecologically safe fertilizers is a key driver behind the surge in demand for new controlled-release options.
Largest Segment by Crop Type
8.71 %
Projected CAGR, Turf & Ornamental, 2024-2030
The rising interest in landscaping, golf courses, indoor gardening, and the increased demand for locally grown attractive flowers will drive the segment's growth.
Largest segment by Country
75.32 %
value share, China, 2023
large area under cultivation, growing population, and the need for food and nutritional security may drive the specialty fertilizer market in China during forecast period.
Leading Market Player
2.91 %
market share, Yara International ASA, 2022
Yara International has became a market leader by offering a wide range of specialty fertilizers including CRF, SRF, foliar, liquid, micronutrients and complex fertilizers
The growing demand for specialty fertilizers to improve productivity is strengthening the growth of the market
- During the study period, the specialty fertilizers market in the region witnessed a robust growth of 94.2%. Moving forward, the market is projected to maintain a steady CAGR of 6.2%.
- In 2022, China, India, and Japan commanded the market, accounting for 78.9%, 5.6%, and 2.5% of its value, respectively. Notably, China emerged as both the leading producer and consumer of specialty fertilizers in the region. The market's focus on China and India is driven by their sizable populations, ample land availability, diverse climatic regions, and supportive government policies, including fertilizer trials.
- Field crops took the lion's share in 2022, capturing 72.3% of the market. Among these crops, the demand for polymer-coated, urea-based controlled-release fertilizers was particularly high, constituting 58.7% of the market. The use of poly-coated urea aids in bridging the gap between soil nitrogen availability and plant nitrogen demand, leading to a rising adoption of advanced fertilizers like these.
- Fertigation emerged as the dominant fertilizer application method, accounting for 70.4% of all applications. This preference can be attributed to the drawbacks of foliar fertilizers, which, if not applied correctly, can harm plants. The market share of foliar application stands at 35.4%.
- Driven by the desire to maximize crop yields per hectare, farmers have increasingly turned to specialized fertilizers like liquid, water-soluble, and controlled-release variants. This growing demand underscores the market's future potential.
Understand The Key Trends Shaping This Market
The intensive cultivation is driving the demand for specialty fertilizers
- In 2022, field crops held the largest share of the Asia-Pacific specialty fertilizers market, representing 83.5% of the total consumption volume. Horticultural crops trailed behind at 15.8%, while turf & ornamentals lagged at less than 1%. China emerged as the leader in the field crops segment, commanding 33.1% of the specialty fertilizer market's value, followed by India at 23.8%, Indonesia at 7.0%, Australia at 5.6%, and Japan at 4.0%.
- China's specialty fertilizer market, primarily driven by crops like rice, wheat, and maize, accounted for a staggering 78.4% of Asia-Pacific's total specialty fertilizer market value in 2022.
- India, the second-largest fertilizer consumer in Asia-Pacific, witnessed a significant uptick in the specialty fertilizer market. From USD 1.31 billion in 2022, the market is projected to reach USD 1.76 billion by 2030. Specialty fertilizers, tailored to specific soil and plant conditions, are designed to elicit targeted responses, enhancing plant growth and productivity.
- Japan's specialty fertilizer market held a 15.9% share of the Asia-Pacific market in 2022. The country's key agricultural crops encompass rice, soybean, wheat, and barley.
- With Asia-Pacific's soils losing fertility due to continuous cropping, the region is facing challenges in sustaining cultivation. This scenario is expected to bolster the demand for specialty fertilizers, which offer precise nutrition delivery with minimal environmental impact.
Asia-Pacific Specialty Fertilizer Industry Segmentation Asia-Pacific Specialty Fertilizer Industry Segmentation
CRF, Liquid Fertilizer, SRF, Water Soluble are covered as segments by Speciality Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Australia, Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, Thailand, Vietnam are covered as segments by Country.
- During the study period, the specialty fertilizers market in the region witnessed a robust growth of 94.2%. Moving forward, the market is projected to maintain a steady CAGR of 6.2%.
- In 2022, China, India, and Japan commanded the market, accounting for 78.9%, 5.6%, and 2.5% of its value, respectively. Notably, China emerged as both the leading producer and consumer of specialty fertilizers in the region. The market's focus on China and India is driven by their sizable populations, ample land availability, diverse climatic regions, and supportive government policies, including fertilizer trials.
- Field crops took the lion's share in 2022, capturing 72.3% of the market. Among these crops, the demand for polymer-coated, urea-based controlled-release fertilizers was particularly high, constituting 58.7% of the market. The use of poly-coated urea aids in bridging the gap between soil nitrogen availability and plant nitrogen demand, leading to a rising adoption of advanced fertilizers like these.
- Fertigation emerged as the dominant fertilizer application method, accounting for 70.4% of all applications. This preference can be attributed to the drawbacks of foliar fertilizers, which, if not applied correctly, can harm plants. The market share of foliar application stands at 35.4%.
- Driven by the desire to maximize crop yields per hectare, farmers have increasingly turned to specialized fertilizers like liquid, water-soluble, and controlled-release variants. This growing demand underscores the market's future potential.
| Speciality Type | |||||
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| Liquid Fertilizer | |||||
| SRF | |||||
| Water Soluble |
| Application Mode | |
| Fertigation | |
| Foliar | |
| Soil |
| Crop Type | |
| Field Crops | |
| Horticultural Crops | |
| Turf & Ornamental |
| Country | |
| Australia | |
| Bangladesh | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Pakistan | |
| Philippines | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
Need A Different Region Or Segment?
Asia-Pacific Specialty Fertilizer Market Size Summary
The Asia-Pacific specialty fertilizer market is experiencing significant growth, driven by the increasing demand for advanced agricultural solutions to enhance crop yields. This market is characterized by a robust expansion, with key players like China, India, and Japan leading in both production and consumption. The region's diverse climatic conditions, substantial land availability, and supportive government policies are pivotal in fostering this growth. Specialty fertilizers, particularly polymer-coated, urea-based controlled-release variants, are gaining traction due to their ability to optimize nitrogen availability for plants, thereby bridging the gap between soil nutrient levels and plant requirements. The dominant application method in the region is fertigation, which is preferred over foliar applications due to its efficiency and reduced risk of plant damage.
Field crops, especially rice, wheat, and maize, dominate the specialty fertilizer market in Asia-Pacific, with China and India being the largest consumers. The rising demand for these staple crops, coupled with the expansion of cultivated areas, is expected to drive the market further. The region's soils are facing fertility challenges due to continuous cropping, which is anticipated to bolster the demand for specialty fertilizers that offer precise nutrient delivery with minimal environmental impact. The market is fragmented, with major players like Coromandel International Ltd., Huaqiang Chemical Group Stock Co., Ltd., ICL Group Ltd, Sociedad Quimica y Minera de Chile SA, and Yara International ASA playing significant roles. Strategic partnerships and innovations, such as the introduction of coated micronutrients, are enhancing the product offerings and addressing the evolving needs of the agricultural sector in Asia-Pacific.
Asia-Pacific Specialty Fertilizer Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Speciality Type
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1.1.1 CRF
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1.1.1.1 Polymer Coated
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1.1.1.2 Polymer-Sulfur Coated
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1.1.1.3 Others
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1.1.2 Liquid Fertilizer
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1.1.3 SRF
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1.1.4 Water Soluble
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1.2 Application Mode
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1.2.1 Fertigation
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1.2.2 Foliar
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1.2.3 Soil
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1.3 Crop Type
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1.3.1 Field Crops
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1.3.2 Horticultural Crops
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1.3.3 Turf & Ornamental
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1.4 Country
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1.4.1 Australia
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1.4.2 Bangladesh
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1.4.3 China
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1.4.4 India
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1.4.5 Indonesia
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1.4.6 Japan
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1.4.7 Pakistan
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1.4.8 Philippines
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1.4.9 Thailand
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1.4.10 Vietnam
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1.4.11 Rest of Asia-Pacific
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Asia-Pacific Specialty Fertilizer Market Size FAQs
How big is the Asia-Pacific Specialty Fertilizer Market?
The Asia-Pacific Specialty Fertilizer Market size is expected to reach USD 18.74 billion in 2024 and grow at a CAGR of 6.41% to reach USD 27.21 billion by 2030.
What is the current Asia-Pacific Specialty Fertilizer Market size?
In 2024, the Asia-Pacific Specialty Fertilizer Market size is expected to reach USD 18.74 billion.
