Asia-Pacific Specialty Fertilizer Market Size

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).

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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

The intensive cultivation is driving the demand for specialty fertilizers

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.