Eastern Asia: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Eastern Asia

The East Asian animal or vegetable fertilisers market totaled $X in 2022, almost unchanged from the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Animal Or Vegetable Fertilisers in Eastern Asia

In value terms, animal or vegetable fertilisers production rose slightly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Animal Or Vegetable Fertilisers

Exports in Eastern Asia

In 2022, shipments abroad of animal or vegetable fertilisers increased by X% to X tons, rising for the seventh year in a row after two years of decline. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, animal or vegetable fertilisers exports surged to $X in 2022. Overall, exports posted resilient growth. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan represented the key exporter of animal or vegetable fertilisers in Eastern Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. China (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%).

Japan was also the fastest-growing in terms of the animal or vegetable fertilisers exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and China (X%) displayed positive paces of growth. While the share of Japan (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share 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 Eastern Asia stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Imports of Animal Or Vegetable Fertilisers

Imports in Eastern Asia

In 2022, supplies from abroad of animal or vegetable fertilisers decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, animal or vegetable fertilisers imports soared to $X in 2022. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X tons) represented the largest importer of animal or vegetable fertilisers, comprising X% of total imports. South Korea (X tons) held the second position in the ranking, distantly followed by China (X tons). All these countries together held approx. X% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: China (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price saw resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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