Key Findings
The Asia-Pacific organic fertilizers market is set to record a CAGR of 10.51% during the forecast period, 2023-2032. Favorable government initiatives support organic farming in the region in the form of research funding, subsidies, and policies.
Market Insights
Vietnam, China, Australia & New Zealand, South Korea, Japan, Indonesia, Thailand, India, and Rest of Asia-Pacific are evaluated for the Asia-Pacific organic fertilizers market growth analysis. In Japan, a significant advancement was made by Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) in April 2020 to boost the organic fertilizers sector. They introduced a notable measure by augmenting the payment sum for organic farmers within the environmental direct payment scheme. The updated rate, established at 12,000 yen (roughly 90 euros) per 0.1 hectares, marked an impressive 50% rise in comparison to the earlier rate. This action was taken with the intention of encouraging and providing backing to organic farming methods nationwide.
In Indonesia, as per the Organic Trade Association, UD Padi held the dominant position in the organic segment during 2021, boasting a substantial market share of 19.0%. Following closely was Kampung Kearifan Indonesia PT, commanding a share of 16.4%. These enterprises stand at the vanguard of the drive to endorse and furnish organic fertilizers, effectively catering to the escalating demand within the agricultural domain.
Acknowledging the significance of organic farming, the Ministry of Agriculture in Indonesia has been proactively encouraging farmers to embrace the use of organic fertilizers. In a bid to facilitate this transition, the Directorate General of Agricultural Infrastructure and Facilities has been extending subsidies since the year 2008. These initiatives are geared towards championing sustainable agricultural practices and amplifying the adoption of organic fertilizers across the entire nation.
Competitive Insights
Some of the key firms in the market are Agri Life, Coromandel International Limited, Tata Chemicals Limited, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations.
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments