Philippines Fertilizer Industry Research Report 2024-2033

Philippines Fertilizer Industry Research Report 2024-2033

The Philippines has a population of approximately 110 million, ranking second in ASEAN. Agriculture plays an important role in the Philippine economy. 70 % of the country's population is in rural areas, and a considerable number of rural people rely on agriculture to make a living. According to statistics, the agricultural industry employs 24% of the Philippines' workforce. Cultivated land and forestland account for 18.7 % of the total land area of the Philippines.

The Philippines has limited fertilizer production capacity, so it needs to import large amounts of fertilizer every year. According to CRI's analysis, the Philippines' annual fertilizer imports have exceeded 2 million tons in recent years. The Philippines mainly imports fertilizers from China, Indonesia, Malaysia and other countries.

But the Philippines also exports fertilizers. The main types of chemical fertilizers exported by the Philippines are urea, ammonium sulfate, diamine phosphate, potassium fertilizer and compound fertilizer. Cambodia, Vietnam, Malaysia, Zambia, Bulgaria, etc. are the main export markets for fertilizers in the Philippines.

According to CRI's analysis, although COVID -19 has had a certain adverse impact on the Philippine fertilizer industry in 2020-2021, in 2022-2023, the Philippine fertilizer industry has shown a recovery trend.

Although the demand for fertilizers in the Philippines in 2020 was adversely affected by extreme weather conditions, in general, the operating conditions of enterprises are good, and the operating performance of leading enterprises has increased significantly.

According to CRI’s analysis, the positive outlook for agriculture is a factor driving the growth of fertilizer consumption in the Philippines. The Philippines is one of the agricultural systems most vulnerable to monsoons and other extreme weather events, and these events are expected to create more uncertainty as climate change impacts the country.

Overall, with the growth of the Philippine population and economic development, the demand for chemical fertilizers in the Philippine agriculture and planting industry will continue to rise. The Philippines' fertilizer imports are expected to continue to grow from 2024 to 2033. CRI predicts that by 2033, the Philippines' fertilizer imports will reach 3.39 million tons, with a compound annual growth rate of 3.0 % from 2024 to 2033.

For foreign-funded enterprises, the Philippine fertilizer industry is an area worthy of investment in the next few years.

Topics covered:

• Philippine Fertilizer Industry Overview
• Economic environment and policy environment for fertilizers in the Philippines
• Philippine fertilizer market size from 2019 to 2023
• Analysis of major Philippine fertilizer manufacturers
• Key Drivers and Market Opportunities of the Philippine Fertilizer Industry during the 2024-2033 forecast period?
• What is the expected revenue of the Philippine fertilizer market during the forecast period of 2024-2033?
• What strategies are adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Philippines Fertilizer Market is expected to dominate the market in 2033?
• Philippine fertilizer market forecast 2024-2033
• What are the major headwinds facing the Philippine fertilizer industry?