Global NPK Fertilizers Market Research Report: Information by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Others), Mode of Application (Fertigation, Foliar and others), Form (Dry and Liquid) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2028

NPK Fertilizers Market Scenario

氮磷钾化肥市场预计将十字架26美元.16 Bn by 2027 at a CAGR of 2.30% during the forecast period of 2019 to 2027. The NPK fertilizer market is highly fragmented and competitive with numerous global and regional players active in the market. However, the market is dominated by major players such as BASF SE, Yara International, Coromandel International, and The Mosaic Company recognized through their prominent brands. The market players are focusing on product innovation and marketing to maintain their customer bases. The companies are adopting various growth strategies to maintain their dominance in the market. For instance, In July 2013, Borealis AG acquired GPN SA from TOTAL S.A. (France). This acquisition helped the company expand its portfolio of nitrogen fertilizers.

Market Synopsis

Nitrogen (N), phosphorus (P), and potassium (K) are primary nutrients required by plants. Theglobal fertilizer marketwas valued at around160 billionin 2018 and is expected to register steady growth during the review period. NPK fertilizers are widely and frequently used in farming, resulting in high demand across the globe. NPK fertilizers are designed to meet the requirements of the primary nutrients in one product, thereby reducing labor and other costs. These products are available in generic form for use on multiple crops or customized for crop requirements.

减少全球农田,reg的担忧arding food safety, and the need for high crop yield are the major driving factors for the growth of the market. Per capita farmland has seen a severe decline in the last decade. Globally, the share of agricultural land to total land fell to 37.43% in 2016 from 39.07% in 1991. This has necessitated the use of fertilizers such as NPK. However, the growing environmental concerns and demand for organic products are the major restraining factors for the growth of the market. The globalorganic fertilizersmarket is expected to register a CAGR 12% from 2019 to 2027, which is impacting the growth of the NPK fertilizers market.

Market USP

Need for increase of crop yield due to shrinking farmlands

Market Drivers

• Need to increase crop yield due to shrinking farmlands: The area under farmland is shrinking globally. Per capita farmland across the globe has seen drastic fall, especially in Asia-Pacific. In 1950, per capita farmland was5,100 m2and it is expected to reduce to2,000 m2by 2050. Thus, the need to increase crop production is forcing farmers to rely on fertilizers.

• Government support through subsidies

Market Restraints

• Rising environmental concerns


• Adoption of organic farming

Segmentation

By Crop Type

• Cereals & Grains: In 2018, the cereals & grains segment accounted for the largest share of35%of the market with wheat, rice, and maize being the major crops. Cereals & grains cultivation is the largest agricultural activity and contributes significantly to the high consumption of NPK fertilizers.

• Fruits & Vegetables

• Oilseeds & Pulses

• Others

By Mode of Application

• Foliar: The fastest-growing segment, adoption of precision farming is the major factor boosting the growth of this segment. Foliar products are gaining importance due to the convenience of application, instant results, and uniform distribution.

• Fertigation

• Others

By Form

• Dry: The dry segment is expected to account for the larger share of the market during the review period. Dry fertilizers are generally used in large fields as they remain in the soil for long periods. These products have fewer risks associated with them as compared to the liquid counterparts due to their slow release activity.

• Liquid

By Region

• Asia-Pacific: Asia-Pacific dominated the global NPK fertilizers market in 2018. Shrinking farm sizes and population growth are the major factors for the growth of the fertilizer industry in the region. Technological advancements and rising awareness among farmers are also driving the growth of the market.

• North America

• Europe

• Rest of the World

Key Players

• BASF SE (Germany)


• Borealis AG (Austria)


• Coromandel International (India)


• Yara International (Norway)


• FEECO International, Inc. (Norway)


• Potash Corporation of Saskatchewan (Canada)


• CF Industries Holdings (US)


• Haifa Group (Israel)


• K + S Aktiengesellschaft (Germany)


• The Mosaic Company (US)


• Hindalco (India)


• Olam International (Singapore)


• Agrium (Canada)


• Deepak Fertilisers & Petrochemicals Corporation Ltd. (India)


• Adventz Group (India)

Questions Addressed in the Report:

• What are the regional and global trends in the market?


• What are the factors affecting the growth of the market?


• Which is the largest revenue-generating region?


• Which are the major regions projecting significant regions?


• Who are the key players in the market?


• Which are the prominent growth strategies adopted by the players in the market?

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 26.16 Bn
CAGR	2.30% (2019-2027)
Base Year	2018
Forecast Period	2027
Historical Data	2015-2017
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Crop Type, Mode of Application, and Form
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	BASF SE (Germany), Borealis AG (Austria), Coromandel International (India). Yara International (Norway), FEECO International, Inc. (Norway), Potash Corporation of Saskatchewan (Canada), CF Industries Holdings (US), Haifa Group (Israel), K + S Aktiengesellschaft (Germany), The Mosaic Company (US), Hindalco (India), Olam International (Singapore), Agrium (Canada), Deepak Fertilisers & Petrochemicals Corporation Ltd. (India), Adventz Group (India)
Key Market Opportunities	Fertigation is the highly preferred mode of application. The high demand for fruits & vegetables has resulted in increased cultivation
Key Market Drivers	减少全球农田,reg的担忧arding food safety, and the need for high crop yield. Technological advancements and rising awareness among farmers

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