Portland, OR, Oct. 27, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the South East Asia organic fertilizers industry generated $1.2 billion in 2019, and is expected to generate $2.1 billion by 2027, portraying a CAGR of 7.4% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key winning strategies, top segments, business performance of key players, and competitive scenario.
Focus of farmers on improving productivity in agricultural activities and preference for organic food among population drive the growth of the South East Asia organic fertilizers market. However, uncertain climate conditions that affect farming activities hinder the market growth. On the other hand, rise in awareness regarding harmful effects of chemical fertilizers on humans and the environment is expected to present new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities have been affected due to the shutdown of factories as governments in many countries imposed lockdown to curb the spread.
- Moreover, the supply chain has been disrupted, which in turn, impacted the procurement of raw materials for manufacturing factories and the distribution among farmers.
- The economic turbulence among farmers has reduced their capabilities to buy fertilizers. As economies of the South East Asian countries gain momentum, the demand would grow.
The report offers detailed segmentation of the South East Asia organic fertilizers market based on source, crop type, form, nutrient content, and country.
Based on source, the plant segment contributed to the highest market share in 2019, accounting for more than half of the total market share, and is projected to maintain its leadership status during the forecast period. However, the mineral segment is estimated to manifest the highest CAGR of 7.7% from 2020 to 2027.
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Based on crop type, the cereal & grains segment accounted for the largest market share, holding more than three-fifths of the total share of the South East Asia organic fertilizers market, and is expected to witness its dominant share throughout the forecast period. However, the fruits and vegetable segment is projected to grow at a CAGR of 7.9% during the forecast period.
Based on country, Indonesia held the highest market share, accounting for nearly one-fifth of the global share in 2019, and is estimated to continue its lead status throughout the forecast period. Moreover, this country is estimated to manifest the largest CAGR of 7.4% from 2020 to 2027. The research also analyzes segments including Malaysia, Thailand, Singapore, and the rest of East Asia.
The key players of the South East Asia organic fertilizers market analyzed in the research are Alpha BioGreen, Baconco Co., Ltd., Bio-Flora (Singapore) PTE Ltd., SongGianh Corporation, Cropmate Fertilizers Sdn Bhd, PT. Jadi Mas - Fertilizers Factory, Cropagro, Revisoil, PT Pupuk Kaltim, and Thai Central Chemical Public Company Limited.
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