NPK Fertilizers Market Forecasts to 2028 – Global Analysis By Form (Liquid, Powder and Other Forms), By Nature (Organic and Synthetic), By Product Type (Potassium, Sulphur, Nitrophos, Phosphorus and Chlorine), By Application (Dairy products, Meat & meat p

NPK Fertilizers Market Forecasts to 2028 – Global Analysis By Form (Liquid, Powder and Other Forms), By Nature (Organic and Synthetic), By Product Type (Potassium, Sulphur, Nitrophos, Phosphorus and Chlorine), By Application (Dairy products, Meat & meat products, Bakery products, Beverages and Other Applications) and Geography

According to Stratistics MRC, the Global NPK Fertilizers Market is accounted for $2.64 billion in 2022 and is expected to reach $3.41 billion by 2028 growing at a CAGR of 4.3% during the forecast period. NPK fertiliser, which is used to provide the nutrients for healthy plant growth, is essentially a combination of three nutrients, namely nitrogen, phosphorus, and potassium. Lowering the cost of application, it improves the efficiency of nutrient and water use. These fertilisers are used extensively in agriculture to ensure the healthy growth of plants and come in a variety of forms, including liquid, gaseous, and granular.

According to the United Nations Environment Program's report on ""Environmental and health impacts of pesticides and fertilizers and ways of minimizing them,"" over the past few decades, pesticide and fertilizer demand, production, and consumption have increased significantly globally. The rise in demand for fertilizers is expected to boost the demand for NPK fertilizers during the forecast period.

Market Dynamics:

Driver:

Growing production and the need for higher crop yields

The global market for NPK fertilisers is expected to grow as a result of rising crop productivity and rising vegetable and fruit consumption. The widespread use of NPK fertilisers and the adoption of the newest farming technologies in tandem with improved crop productivity are two factors bolstering the position of the global market. The demand for NPK fertiliser products in the global market has also increased due to growing awareness of high-quality food products and livestock disease trends.

Restraint:

Rising cost of fertilizer raw materials

Prices for fertilisers also change frequently as a result of the scarce supply of raw materials. The raw materials that make up this mixture also include nitrogen, phosphate, potash, and ammonia. The high costs incurred by fertilisers and manure can consequently have an impact on the prices of plant-based foods, as agricultural production is primarily dependent on the price and quality of fertilisers.

Opportunity:

Growing agricultural sector in developing countries

Agriculture is one of the main sources of livelihood, employment, and income in developing nations, particularly for rural economies. Due to the increasing industrialization of agriculture, the adoption of new technologies and various government agricultural initiatives over the past few decades, the structure of agricultural production in developing regions like India, Africa, China, and others has undergone a significant change. Therefore, developing regions will require high-quality fertilizers where it provides growth opportunities to NPK fertilizer manufacturers.

Threat:

Intensive Agriculture Practices

Animal welfare is poor due to intensive agricultural practises that use chemical fertilisers, which also cause soil and water pollution and the extinction of wildlife. Soil degradation and water shortages may also be a result of traditional farming's intensive methods and the addition of chemicals. Additionally toxic, feed-grade fertilisers reduce soil fertility, contaminate water, and degrade soil quality. As a result, harmful feed-grade fertilisers can stifle market expansion.

Covid-19 Impact

All global market activity has been stifled by the spread of COVID-19. This epidemic stopped other important businesses, which had a negative impact on the global economy. Limited supply, low demand, and a lack of storage have all had a significant negative impact on the NPK fertiliser industry. Worldwide use of NPK fertiliser has significantly decreased as a result of this shortage. The NPK fertiliser market has therefore been unable to meet demand. Limited supply, low demand, and a lack of storage have all had a significant negative impact on the NPK fertiliser industry. Farmers have been compelled to reduce the amount of CO2 added to their fields because they are unable to buy and store their fertilisers. Crop yields have decreased as a result, and prices have increased. The pandemic has forced businesses to reduce inventory and production, which is preventing the market from expanding.

The Powder segment is expected to be the largest during the forecast period

During the forecast period, the powder segment is anticipated hold the largest share. As powder fertilizers they can stay in the soil for a longer time, these fertilisers are applied to larger fields. Compared to liquid fertilisers, powder fertilisers are more efficient, easier to transport, and have a longer shelf life. These factors expand the segment growth.

The Phosphate segment is expected to have the highest CAGR during the forecast period

The Phosphate segment is anticipated to witness highest CAGR during the projection period. Because it costs less than conventional food additives, phosphate is being used more and more in the food industry. Phosphate is more frequently used because it is less expensive than other food additives. A nutrient required for plant growth is phosphorus. Moreover, it is crucial for the growth of roots, the maturity of plants, and the development of seeds. Since soil phosphorus levels are diminished for a variety of reasons, including rain, modern agriculture is dependent on fertilisers based on phosphorus.

Region with largest share:

Due to increasing consumer income and urbanisation, particularly in South Asian nations, the Asia-Pacific region dominates the market for nitrogen, phosphorus, and potassium (NPK) fertilisers and is expected to register the largest share during the forecast period. Agriculture is the third-largest sector in India and makes a significant contribution to the country's GDP growth. Additionally, the need for food in the area is growing. The government's initiatives to slow population growth are anticipated to have a significant positive impact on the market. Furthermore, it is anticipated that rising industrialization in the developing countries of South Asia will increase fertiliser consumption.

Region with highest CAGR:

The North American region is anticipated to witness the highest CAGR during the forecast period. The decreasing amount of arable land available, farmers awareness of the need for nutrients for greater crop yields, and rising urbanization. Additionally, the demand for NPK fertilisers in the is being driven by horticultural profits, an increase in farmers' disposable income, high industrialization and agricultural development, as well as significant demand from the food-processing industry. Such factors are fostering the region's growth.

Key players in the market

Some of the key players profiled in the NPK Fertilizers Market include Azomures, Borealis AG, Carbotecnia SL, Acron Group, Aries Agro Limited, COMPO Expert GMBH, Coromandel International Ltd., EuroChem Group, Fertilizers and Chemicals Travancore Limited, IFFCO, J.R. Simplot Company, MAPCO Fertilizers, PhosAgro Group, Sino Arab Chemical Fertilizer Co. Ltd, Stanley Fertilizer Co. Ltd., URALCHEM Group, Xinyangfeng Fertilizer Co. Ltd., Yara International ASA, Haifa Negev Technologies Ltd. and Helena Agri-Enterprises, LLC.

Key Developments:

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.

In November 2021, Coromandel International Ltd. announced the establishment of its new sulfuric acid plant in Vishakhapatnam, India.

In August 2021, Vive Crop Protection recently added Helena Agri-Enterprises to its distribution network as part of Vive growth strategy throughout the United States.

Forms Covered:
• Liquid
• Powder
• Other Forms

Natures Covered:
• Organic
• Synthetic

Livestocks Covered:
• Ruminants
• Swine
• Poultry
• Other Livestock

Product Types Covered:
• Phosphorus
• Sulphur
• Nitrophos
• Potassium
• Chlorine

Applications Covered:
• Dairy Products
• Meat & Meat Products
• Bakery Products
• Beverages
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements