Animal Or Vegetable Fertilisers Market

The global market for animal or vegetable fertilisers is forecasted to show positive growth trends in both consumption and production over the next eight years. Consumption is expected to increase at a CAGR of +3.6%, reaching 78M tons by 2030, while the market value is projected to grow at a CAGR of +5.3%, reaching $40.2B by the end of 2030. Key consuming countries include China, the United States, and India, while top importers are France, Vietnam, and Belgium. Export prices have shown fluctuations over the years, with Italy having the highest price per ton in 2022. Overall, the market is expected to continue its upward trajectory in the coming years.

Market Forecast

Driven by increasing demand for animal or vegetable fertilisers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 78M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $40.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Animal Or Vegetable Fertilisers

In 2022, after two years of decline, there was growth in consumption of animal or vegetable fertilisers, when its volume increased by 4% to 59M tons. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 -6.1% against 2019 indices. Global consumption peaked at 63M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global animal or vegetable fertilisers market size rose significantly to $26.6B in 2022, growing by 5.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -9.8% against 2019 indices. Over the period under review, the global market hit record highs at $29.5B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (10M tons), the United States (7.2M tons) and India (4M tons), together accounting for 36% of global consumption. France, Japan, Russia, Pakistan, Brazil, Nigeria, Indonesia, Spain, Mexico and Ethiopia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +12.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($3.6B), India ($2.2B) and Russia ($1.9B) appeared to be the countries with the highest levels of market value in 2022, together comprising 29% of the global market. The United States, Mexico, Ethiopia, Pakistan, Nigeria, France, Brazil, Indonesia, Spain and Japan lagged somewhat behind, together comprising a further 31%.

Spain, with a CAGR of +14.7%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of animal or vegetable fertilisers per capita consumption in 2022 were France (45 kg per person), Spain (29 kg per person) and the United States (21 kg per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +10.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Animal Or Vegetable Fertilisers

In 2022, after two years of decline, there was growth in production of animal or vegetable fertilisers, when its volume increased by 4.5% to 60M tons. Overall, the total production indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 -4.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 20% against the previous year. Over the period under review, global production hit record highs at 63M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, animal or vegetable fertilisers production expanded significantly to $26.4B in 2022 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -11.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. Over the period under review, global production reached the peak level at $30B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (10M tons), the United States (7.7M tons) and India (4.1M tons), with a combined 37% share of global production. Japan, France, Russia, Pakistan, Brazil, Nigeria, Indonesia, Belgium, Spain and the Netherlands lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +14.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Animal Or Vegetable Fertilisers

Global animal or vegetable fertilisers imports stood at 3.4M tons in 2022, therefore, remained relatively stable against the previous year's figure. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 14%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, animal or vegetable fertilisers imports reached $1.2B in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.4% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, France (933K tons), distantly followed by Vietnam (471K tons), Belgium (293K tons) and the Netherlands (182K tons) represented the largest importers of animal or vegetable fertilisers, together generating 55% of total imports. Poland (133K tons), Germany (90K tons), Portugal (83K tons), Spain (79K tons), Italy (75K tons), the UK (70K tons), the United States (63K tons), Austria (60K tons) and Sweden (56K tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +43.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest animal or vegetable fertilisers importing markets worldwide were France ($111M), Vietnam ($93M) and the United States ($70M), together comprising 23% of global imports.

In terms of the main importing countries, Vietnam, with a CAGR of +34.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average animal or vegetable fertilisers import price amounted to $358 per ton, growing by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2015 when the average import price increased by 10%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,111 per ton), while Belgium ($86 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Animal Or Vegetable Fertilisers

For the fourth consecutive year, the global market recorded growth in shipments abroad of animal or vegetable fertilisers, which increased by 8.8% to 5.1M tons in 2022. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23%. The global exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, animal or vegetable fertilisers exports reached $1.2B in 2022. In general, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.8% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports By Country

Belgium (1.5M tons) and the Netherlands (1.4M tons) represented roughly 57% of total exports in 2022. It was distantly followed by the United States (622K tons) and Japan (285K tons), together constituting an 18% share of total exports. Spain (171K tons), Italy (160K tons) and China (122K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of +26.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($232M), Italy ($165M) and Belgium ($162M) were the countries with the highest levels of exports in 2022, with a combined 46% share of global exports. Spain, the United States, China and Japan lagged somewhat behind, together comprising a further 17%.

Japan, with a CAGR of +19.7%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average animal or vegetable fertilisers export price stood at $237 per ton in 2022, with a decrease of -4.4% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 7.5% against the previous year. The global export price peaked at $248 per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($1,030 per ton), while the United States ($77 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform