Nitrogen, Phosphorus and Potassium (NPK) Fertilizers Market
Nitrogen, Phosphorus and Potassium (NPK) Fertilizers Market Size, Share & Trends Analysis Report by Type (Phosphorus-Based Fertilizers, Potassium-Based Fertilizers, Nitrogen-Based Fertilizers, and Others), by Form (Powder, Liquid, and Others), and by Application (Dairy Products, Meat & Meat Products, Bakery Products, and Beverages) Forecast Period (2024-2031)
Nitrogen, phosphorus, and potassium (NPK) fertilizers market is anticipated to grow at a CAGR of 4.3% during the forecast period (2024-2031). The growing population globally has increased the demand for food and agricultural productivity. This increased demand for food productivity has been driving the global NPK fertilizer market. Government subsidies and support to promote NPK fertilizer use and economic factors and trade liberalization that facilitate international trade are also making significant contributions to global market growth.
Market Dynamics
Increasing global population
The global population's continuous growth drives demand for food production, requiring higher agricultural productivity and increased demand for NPK fertilizers. According to the US Census Bureau, in November 2023, based on current trends, the rate of global population growth is expected to gradually decline. It took 12.5 years for the globe’s population to increase from 7.0 billion to 8.0 billion, and it is projected to take approximately 14.1 years to reach 9.0 billion, and another 16.4 years to reach 10.0 billion. By 2060, the globe’s population is estimated to be around 10.2 billion.
Market Segmentation
- Based on type, the market is segmented into phosphorus-based fertilizers, potassium-based fertilizers, nitrogen-based fertilizers, and others (micronutrient fertilizers, and organic fertilizers).
- Based on form, the market is segmented into powder, liquid, and others (crystals, prills, and pellets).
- Based on application, the market is segmented into dairy products, meat & meat products, bakery products, and beverages.
Phosphorus-based fertilizers is Projected to Emerge as the Largest Segment
Phosphorus is a vital nutrient for plant growth and health. Phosphorus-based fertilizers can help plants in many ways including root growth, nitrogen fixation, and DNA & RNA composition. The high demand for phosphorus-based fertilizer owing to its offered benefits is a key factor driving the growth of this market segment. To meet the growing demand for phosphate fertilizer, in December 2023, EuroChem launched its new Phosphate R&D Center, aiming to provide prompt responses to site queries and client requests while implementing new process technologies. The center will explore optimizations for raw phosphate rock processing, research plant capacity increases, reduce operational expenses, improve fertilizer product grades, and conduct pilot testing to prove the efficiency of future investment projects. The center's state-of-the-art facilities simulate the entire operation and production process.
Regional Outlook
The nitrogen, phosphorus, and potassium (NPK) fertilizers market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Rising Demand For Food In North America Region
The increasing global population necessitates higher agricultural productivity, driving the demand for NPK fertilizers to improve crop yields and meet the growing food demand. According to the US Department of Agriculture, in March 2022, the US Department of Agriculture plans to allocate $250.0 million for a grant program to boost domestic fertilizer production, address rising costs promote competition in the industry, and conduct a public inquiry.
Nitrogen, Phosphorus and Potassium (NPK) Fertilizers Market Growth by Region 2024-2031
Asia-Pacific Holds Major Market Share
Government policies and subsidies significantly influence fertilizer markets, promoting agricultural sustainability and supporting farmers through targeted programs, as demonstrated by the Fertilizer Program. For instance, in June 2023, Fertilisers and Chemicals Travancore (FACT) launched the 'Bharat' brand NPK, a new fertilizer under the One Nation One Fertiliser programme, launched by the Union government to ensure the quality and affordability of fertilizers under the unified brand name 'Bharat'.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the NPK fertilizers market include Akzo Nobel N.V., CF Industries Holdings, Inc., EuroChem Group, Nutrien Ltd., and Yara International ASA among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in February 2024, Indian fertilizer producers Mangalore Chemicals & Fertilizers (MCFL) and Paradeep Phosphates (PPL) merged to consolidate operations and increase their fertilizer production capacity.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global nitrogen, phosphorus, and potassium (NPK) fertilizers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Akzo Nobel N.V.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. CF Industries Holdings, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Nutrien Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global NPK Fertilizers Market by Type
4.1.1. Phosphorus-based fertilizers
4.1.2. Potassium-based fertilizers
4.1.3. Nitrogen-based fertilizers
4.1.4. Others (Micronutrient Fertilizers, and Organic Fertilizers)
4.2. Global NPK Fertilizers Market by Form
4.2.1. Powder
4.2.2. Liquid
4.2.3. Others (Crystals, Prills, And Pellets)
4.3. Global NPK Fertilizers Market by Application
4.3.1. Dairy Products
4.3.2. Meat & Meat Products
4.3.3. Bakery Products
4.3.4. Beverages
4.3.5. Other
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. AgroLiquid
6.2. Borealis AG
6.3. Bunge Global SA
6.4. COMPO EXPERT GmbH
6.5. DFPCL.
6.6. EuroChem Group
6.7. FEECO International, Inc.
6.8. Haifa Negev technologies LTD.
6.9. Helena Agri-Enterprises, LLC
6.10. HELM AG
6.11. Israel Chemicals Ltd.
6.12. K+S Aktiengesellschaft
6.13. Koch Industries, Inc.
6.14. Olam Group Ltd.
6.15. PhosAgro Group of Co.
6.16. Tessenderlo Group NV
6.17. The Mosaic Co.
6.18. Yara International ASA
1. Global NPK Fertilizers Market Research And Analysis By Type, 2023-2031 ($ Million)
2. Global Phosphorus-Based NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Potassium-Based NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Nitrogen-Based NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Other NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global NPK Fertilizers Market Research And Analysis By Form, 2023-2031 ($ Million)
7. Global NPK Fertilizers Powder Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global NPK Fertilizers Liquid Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global NPK Fertilizers Of Other Form Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global NPK Fertilizers Market Research And Analysis By Application, 2023-2031 ($ Million)
11. Global NPK Fertilizers For Dairy Products Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global NPK Fertilizers For Meat & Meat Products Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global NPK Fertilizers For Bakery Products Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global NPK Fertilizers For Beverages Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
16. North American NPK Fertilizers Market Research And Analysis By Country, 2023-2031 ($ Million)
17. North American NPK Fertilizers Market Research And Analysis By Type, 2023-2031 ($ Million)
18. North American NPK Fertilizers Market Research And Analysis By Form, 2023-2031 ($ Million)
19. North American NPK Fertilizers Market Research And Analysis By Application, 2023-2031 ($ Million)
20. European NPK Fertilizers Market Research And Analysis By Country, 2023-2031 ($ Million)
21. European NPK Fertilizers Market Research And Analysis By Type, 2023-2031 ($ Million)
22. European NPK Fertilizers Market Research And Analysis By Form, 2023-2031 ($ Million)
23. European NPK Fertilizers Market Research And Analysis By Application, 2023-2031 ($ Million)
24. Asia-Pacific NPK Fertilizers Market Research And Analysis By Country, 2023-2031 ($ Million)
25. Asia-Pacific NPK Fertilizers Market Research And Analysis By Type, 2023-2031 ($ Million)
26. Asia-Pacific NPK Fertilizers Market Research And Analysis By Form, 2023-2031 ($ Million)
27. Asia-Pacific NPK Fertilizers Market Research And Analysis By Application, 2023-2031 ($ Million)
28. Rest Of The World NPK Fertilizers Market Research And Analysis By Region, 2023-2031 ($ Million)
29. Rest Of The World NPK Fertilizers Market Research And Analysis By Type, 2023-2031 ($ Million)
30. Rest Of The World NPK Fertilizers Market Research And Analysis By Form, 2023-2031 ($ Million)
31. Rest Of The World NPK Fertilizers Market Research And Analysis By Application, 2023-2031 ($ Million)
1. Global NPK Fertilizers Market Share By Type, 2023 Vs 2031 (%)
2. Global Phosphorus-Based NPK Fertilizers Market Share By Region, 2023 Vs 2031 (%)
3. Global Potassium-Based NPK Fertilizers Market Share By Region, 2023 Vs 2031 (%)
4. Global Nitrogen-Based NPK Fertilizers Market Share By Region, 2023 Vs 2031 (%)
5. Global Other NPK Fertilizers Market Share By Region, 2023 Vs 2031 (%)
6. Global NPK Fertilizers Market Share By Form, 2023 Vs 2031 (%)
7. Global NPK Fertilizers Powder Market Share By Region, 2023 Vs 2031 (%)
8. Global NPK Fertilizers Liquid Market Share By Region, 2023 Vs 2031 (%)
9. Global NPK Fertilizers Of Other Form Market Share By Region, 2023 Vs 2031 (%)
10. Global NPK Fertilizers Market Share By Application, 2023 Vs 2031 (%)
11. Global NPK Fertilizers For Dairy Products Market Share By Region, 2023 Vs 2031 (%)
12. Global NPK Fertilizers For Meat & Meat Products Market Share By Region, 2023 Vs 2031 (%)
13. Global NPK Fertilizers For Bakery Products Market Share By Region, 2023 Vs 2031 (%)
14. Global NPK Fertilizers For Beverages Market Share By Region, 2023 Vs 2031 (%)
15. Global NPK Fertilizers Market Share By Region, 2023 Vs 2031 (%)
16. US NPK Fertilizers Market Size, 2023-2031 ($ Million)
17. Canada NPK Fertilizers Market Size, 2023-2031 ($ Million)
18. UK NPK Fertilizers Market Size, 2023-2031 ($ Million)
19. France NPK Fertilizers Market Size, 2023-2031 ($ Million)
20. Germany NPK Fertilizers Market Size, 2023-2031 ($ Million)
21. Italy NPK Fertilizers Market Size, 2023-2031 ($ Million)
22. Spain NPK Fertilizers Market Size, 2023-2031 ($ Million)
23. Rest Of Europe NPK Fertilizers Market Size, 2023-2031 ($ Million)
24. India NPK Fertilizers Market Size, 2023-2031 ($ Million)
25. China NPK Fertilizers Market Size, 2023-2031 ($ Million)
26. Japan NPK Fertilizers Market Size, 2023-2031 ($ Million)
27. South Korea NPK Fertilizers Market Size, 2023-2031 ($ Million)
28. Rest Of Asia-Pacific NPK Fertilizers Market Size, 2023-2031 ($ Million)
29. Latin America NPK Fertilizers Market Size, 2023-2031 ($ Million)
30. Middle East And Africa NPK Fertilizers Market Size, 2023-2031 ($ Million)
