Global NPK Fertilizers Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Crop Type (Cereals And Grains, Seeds And Pulses, Fruits And Vegetables, Others), By Form (Liquid, Gaseous, Granular), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061613058
- Pages : 138
The global NPK Fertilizers market is anticipated to grow at a CAGR of 5.48% during the forecast period, reaching a total market size of US$19.015 billion in 2027 from US$13.089 billion in 2020.
Fertilizer is any organic or inorganic material that is applied to plants or soil to provide the essential and necessary nutrients that it lacks for the essential and efficient growth of the plant. They are generally categorized as single nutrients or multi-nutrient depending on the composition of nutrients in them.
NPK fertilizers are essentially three nutrient fertilizers that contain a blend of three essential nutrients for plant growth that are nitrogen, phosphorus, and potassium. Nitrogen is required by plants for numerous plant functions and is one of the elemental components of chlorophyll. Nitrogen fuels vegetative growth, particularly the foliage, stems, and branches. Phosphorus is required for functions such as root growth, seed, and flower formation also phosphorus is most available to plants when the soil pH is between 5.5 and 7. Potassium is an essential element for all plants to survive and promotes root and bud growth and the ripening of fruit. It also enhances disease resistance as well as tolerance to drought, heat, and freezing. The composition of NPK fertilizers can be both organic and inorganic.
The use of NPK fertilizers is increasing due to factors like an increase in farming practices across the globe.
As the global population is growing it is essential to growing enough crops in a year so that overall demand can be met, but crops that are grown require fertilizers as sometimes the soil is depleted of the required essential nutrients. The growing demand for NPK Fertilizers is exemplified by the fact that an increasing number of companies are expanding in this space. For instance, the Sojitz group, based in Thailand which produces high-quality NPK fertilizers, expanded its operations into Myanmar by setting up import and wholesale business there. Another company Yara International sells NPK-specific products named YaraMila Complex which is a premium, prilled nitro phosphate NPK (12-11-18 with sulfur and magnesium), designed to maximize crop yield and quality. The source of nitrogen in this is balanced and contains both ammonium-N. and nitrate-N. to feed fast-growing crops and ensure good root development there is a requirement for high nitrate concentration, while the ammonium-N is important to keep a sustained delivery of nitrogen. Another company which is a leading fertilizer producer EuroChem Group AG headquartered in Switzerland signed an MOU in 2018 with Heilongjiang Beidahuang Farms, part of Beidahuang Group, China’s largest agricultural company. According to this MOU, EuroChem Group AG will supply potash and other NPK fertilizers to Heilongjiang Beidahuang Farms,
By Crop Type
By Crop Type, the global NPK fertilizer market has been segmented as Cereals and Grains, Seeds and Pulses, and Fruits and Vegetables. Fruits and Vegetables own a significant share of the market due to the growing demand for high-value crops throughout the world and highly efficient agricultural inputs used by the farmers for growing the crops. Cereals and grains also hold a notable share of the market.
By Form, the global NPK Fertilizer market has been segmented as liquid, gaseous, and granular. Liquid NPK fertilizers hold a notable share in the market owing to the fact that it is easily mixable and deliverable into irrigation water which then can be spread on the fields.
By Distribution Channel
By the distribution channel, the global NPK Fertilizer market has been segmented as online and offline. The offline channel which includes wholesale distributors holds a significant amount of market share owing to the fact that all the information about the fertilizer is easily available to the distributor so that the farmer has no confusion in choosing the right product for the type of crop being grown.
Geographically, the global NPK Fertilizer market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. The Asia Pacific is expected to grow at a significant rate owing to the burgeoning adoption of these fertilizers in many countries due to the environmental benefits they use fewer amounts of fertilizer and provide the necessary and optimum amount of nutrients to the plants and crops and government promoting modern agricultural practices.
The global NPK fertilizer market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
- In November 2019 - As part of its attempts to reduce the use of chemical fertilizers and increase farmer income, IFFCO launched its 'nano-technology' based products - nano nitrogen, nano zinc, and nano copper - for on-field trials. These environmentally friendly solutions have been launched for the first time in India and have the potential to cut the use of conventional chemical fertilizers by 50% while increasing crop yield by 15%-30%, according to IFFCO.
- In March 2022 - Kochi-based Fertilizers and Chemicals Travancore Limited (FACT) is increasing its NPK Fertilizer capacity. FACT, a Government of India Enterprise, was one of the country's first large-scale fertilizer enterprises. The NPK Plant is being established within FACT's existing Cochin Division (CD) manufacturing site at Ambalam Edu, Ernakulam district, Kerala state.
Global NPK Fertilizers Market Scope:
|Market Size Value in 2020||US$13.089 billion|
|Market Size Value in 2027||US$19.015 billion|
|Growth Rate||CAGR of 5.48% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Crop Type, Form, Distribution Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Borealis AG, Yara, Nutrien Ltd., ICL, EuroChem Group AG, PhosAgro, CARBOTECNIA SL, Haifa Chemicals Ltd., SKW Stickstoffwerke Piesteritz GmbH, J.R. Simplot Company|
|Customization Scope||Free report customization with purchase|
- By Crop Type
- Cereals and Grains
- Seeds and Pulses
- Fruits and Vegetables
- By Form
- By Distribution Channel
- By Geography
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL NPK FERTILIZERS MARKET ANALYSIS, BY CROP TYPE
5.2. Cereals and Grains
5.3. Seeds and Pulses
5.4. Fruits and Vegetables
6. GLOBAL NPK FERTILIZERS MARKET ANALYSIS, BY FORM
7. GLOBAL NPK FERTILIZERS MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
8. GLOBAL NPK FERTILIZERS MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.2. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Borealis AG
10.3. Nutrien Ltd.
10.5. EuroChem Group AG
10.7. CARBOTECNIA SL
10.8. Haifa Chemicals Ltd.
10.9. SKW Stickstoffwerke Piesteritz GmbH
10.10. J.R. Simplot Company
Haifa Chemicals Ltd.
SKW Stickstoffwerke Piesteritz GmbH
J.R. Simplot Company
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