Exhibition time： 09:00:00 May 31, 2022 中文
Source of the picture: VCG
Key words of the passage: organic market; analysis; regional; competitive
The Southeast Asia organic fertiliser market held a market value of US$722.1mn in 2020 and is forecasted to reach US$1,265.3mn by the year 2027 according to Report Ocean, a market research and forecast company.
Growing awareness regarding environmental sustainability
The use of chemical fertilisers is widespread. However, growing awareness regarding the adverse effects of chemical fertilisers has led to the growth in the demand for organic fertilisers as they offer better environmental sustainability. Extensive use of chemical fertilisers leads to water and soil pollution. Awareness regarding the benefits of organic fertilisers for maintaining environmental sustainability is expected to fuel market growth.
On a regional basis, the market is divided into Myanmar, Cambodia, Indonesia, Malaysia, The Philippines, Singapore, Thailand, Vietnam, Laos, Timor Leste and Brunei. Indonesia is anticipated to hold the largest market share of about 28% owing to the high demand for organic food. Malaysia is expected to grow at a CAGR of 7.1% owing to rising government as well as subsidies on organic fertiliser in the country. Thailand is estimated to surpass a market volume of 834.7 kilo tonnes by 2027.
Key players operating in the South East Asia organic fertiliser market include Agroxon Pte Ltd., Alpha BioGreen, Baconco Co., Ltd., Bio-Flora (Singapore) PTE Ltd., Biomax Green, CropAgro, Cropmate Fertilizers Sdn Bhd, Liberco International (S) Pte Ltd, PT Pupuk Kaltim, PT. Jadi Mas – Fertilizers Factory, Revisoil, SongGianh Corporation, Stamford Resources Pte Ltd and Thai Central Chemical Public Company Limited.
The approximate market share of the eleven major players is close to 20%. These market players are also involved in partnerships, mergers and acquisitions, new product launches, to strengthen their market presence.
Source: Far Eastern Agriculture