Asia-Pacific Micronutrient Fertilizer Market Trends

Statistics for the 2023 & 2024 Asia-Pacific Micronutrient Fertilizer market trends, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Micronutrient Fertilizer trend report includes a market forecast to 2030 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Market Trends of asia-pacific micronutrient fertilizer Industry

The significant expansion in the cultivation of major growing crops is anticipated to boost the growth of the fertilizers market

  • Field crop cultivation dominates the Asia-Pacific region, accounting for more than 95% of the total crop area. Rice, wheat, and corn are the major field crops produced in the region, together accounting for about 38% of the total crop area in 2022. The rising area under cultivation is expected to increase the need for fertilizer usage in the country.
  • The Asia-Pacific region, which include China, India, Pakistan, and Australia, is among the world's largest wheat producers. China and India are also the world's largest wheat producers and consumers. Wheat is one of the major staple foods of this region, driving the increase increase in demand and consumption. Notably, the area under wheat cultivation increased by 638.6 thousand ha from 2018 to 2022. In 2022, China accounted for the production of 138 million metric tons of wheat, making it the largest wheat producer in the world, and India recorded wheat production of 103 million metric tons.
  • Rice is the largest cultivated field crop in the region. Its cultivation alone accounted for about 16.44% of the total agricultural land in 2022. Rice is the staple food of Asia and most parts of the Pacific region. China was projected to produce 147 million tons of rice, and India was expected to harvest 124 million tons of rice in 2022. India was also expected to consume 109 million tons while exporting a world-leading 19.5 million tons.
  • The surge in both domestic and international demand for field crops has prompted an expansion in the cultivation area dedicated to these crops. This significant increase in cultivated land is expected to have a direct and positive impact on the Asia-Pacific fertilizer market throughout the 2023-2030 period.
Asia-Pacific Micronutrient Fertilizer Market

Rapeseed/canola accounted for the highest average nutrient application rate of 9.2 kg/hectare in 2022

  • The demand for micronutrients has grown in recent years due to the accelerated rates of nutrient removal in high-yielding crops. Micronutrient deficiency is widespread in Asia-Pacific, which is one of the major regions affected by this deficiency. Zinc, manganese, and copper are estimated to be the major types of nutrients applied largely for field crops, accounting for 12 kg/hectare, 9.1 kg/hectare, and 7.2 kg/hectare, respectively, in 2022.
  • The lack of awareness about the benefits of using micronutrient fertilizers among the farming community in developing countries and the high cost associated with the purchase of these fertilizers are some of the factors limiting the growth of micronutrient fertilizers in the region.
  • By crop type, rapeseed/canola accounted for the highest average nutrient application rate of 9.2 kg/hectare in 2022, followed by corn/maize and rice, accounting for 6.7 kg/hectare and 5.4 kg/hectare, respectively. The impact of specific micronutrients differs among crops and across the region. For instance, in the case of wheat, the major micronutrient deficiencies are copper and manganese. In countries like China, India, and Japan, boron and molybdenum are identified as deficient in wheat. Similarly, in rapeseed/canola, the major deficiencies are zinc, manganese, and copper.
  • As farmers aim to get more out of every planted hectare, the popularity of micronutrients in the production of crops has increased rapidly in the recent past. High micronutrient deficiency and increasing demand for crops have encouraged farmers to adopt more micronutrients to increase soil health and enhance crop productivity.
undefined

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • The growing demand for fruits and vegetables is driving the expansion of horticulture cultivation area in Asia-Pacific
  • India possesses one of the most expansive irrigated regions, relying on a comprehensive infrastructure of canals, reservoirs, and tube wells to bolster its diverse agricultural sector
  • The deficiency of boron, zinc, manganese, and molybdenum is extremely common in cruciferous vegetables

Asia-Pacific Micronutrient Fertilizer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030