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Fertilizers market in Thailand to reach 3.34 million metric tons in 2019
Dec. 22, 2015
Technavio
United KingdomFollow
United KingdomAccording to the report"Fertilizers Market in Thailand 2015-2019",the consumption of fertilizers in Thailand was 2.74 million metric tons in 2014 and is expected to reach a volume of 3.34 million metric tons in 2019, growing at a CAGR of more than 4%.
The increasing population in Thailand every year has increased the demand for food, thereby increasing the production and consumption of fertilizers in the country.
The consumers are expanding their diets with these dietary changes manifested in the form of increased demand for grain-intensive animal protein and dairy products.
However, with the decline in arable land, it is difficult for farmers to increase productivity enough to cater to the high demand for food. Therefore, farmers are increasingly depending on fertilizers to improve plant growth and yields.
Corn, sugarcane, and cassava crops use significant amount of nitrogen fertilizers in Thailand, which is one of the main reasons influencing the market growth.
Source: technavio
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