NPK Market - Forecast(2024 - 2030)

Report Code: AGR 70027 Report Format: PDF + Excel
NPK Market Overview
NPK market size is forecast to reach $XX.X billion by 2025, after growing at a CAGR of 4.2% during 2020-2025, owing to the vital role of NPK in controlling the diseases, insects and weeds that harm or destroy the food crops and improving the health and appearance of plants. Increase in demand for high-efficiency fertilizers, rise in adoption of precision farming, ease of use & application, and enhanced crop protection provided by NPK fertilizers are major factors that are driving the market growth. With growing global populations that constantly challenge food production, NPK fertilizers offer a means towards meeting the challenge of more food from less land. They are being extensively used to destroy or suppress the growth of harmful microorganisms such as bacteria, viruses, or fungi on the crops. Thus, the extensive usage of NPK as a crop care product is anticipated to drive the NPK market substantially during the forecast period.

Report Coverage
The report: “NPK Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the NPK Industry. 
By Type: Nitrogen, Phosphorous, and Potassium
By Form: Solid, and Liquid
By Mode of Application: Soil, Foliar, Fertigation, and Others
By Crop Type: Food Crops, Cash Crops, Horticulture Crops, Plantation Crops, and Others
By Geography: North-America, South-America, Europe, Asia Pacific, and RoW

Key Takeaways
  • Asia Pacific dominates the NPK market, owing to the increasing agricultural investments by the government in the region. In May 2019, NABARD announced an investment of Rs 700 crore (US$ 100 million) venture capital fund for equity investments in agriculture and rural-focused start-ups in India.
  • The demand for NPK fertilizers are increasing as nitrogen is good at making the leaves grow, phosphorus improves fruit production as well as root growth, and potassium is great for overall plant health.
  • NPK sensors are being widely used to measure and detect the presence of Nitrogen (N), Phosphorus (P) and Potassium (K) of soil to decide how much extra contents of these nutrients are to be added to the soil to increase soil fertility. This precision farming technique is improving the quality of soil and reducing the undesired use of fertilizers in the soil. 
  • Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which operations of various industries such as agriculture and horticulture has been negatively affected, which is hampering the NPK market growth.

By Type – Segment Analysis
The phosphorous segment held the largest share in the NPK market in 2019, as phosphorous is the main nutritional element in plants. Phosphorus is involved in photosynthesis, respiration, energy storage and transfer and many other processes in the plant. Phosphorus is known to improve the quality of fruit, vegetable, grain crops, and they are vital for seed formation. A lack of phosphorus causes plants to remain small and stunted and stalks to remain thin. Also, the leaves turn color, the roots hardly grow and flowering is delayed. Thus, the essential functions of phosphorus for the transmission, storage of chemical energy, and root formation is driving the demand for phosphorous NPK market during the forecast period. 

By Form – Segment Analysis
The solid segment held the largest share in the NPK market in 2019, as solid NPK fertilizers have a longer shelf life compared to liquid NPK fertilizer. The solid NPK fertilizers are convenient to apply, transport and they are more efficient for heavy pre-plant applications. In addition, the cost of converting equipment to handle NPK liquid fertilizer can be an obstacle due to which NPK solid fertilizers are preferred. NPK granules are produced by the compaction technology in which a mixture of the nutrient carriers for nitrogen (N), phosphate (P), and potassium (K) is compacted to a flake.  Also, solid NPK fertilizers are cheaper in bulk and easier to store than liquid NPK fertilizers. Thus, these superior advantages of solid NPK fertilizers over liquid NPK fertilizers are anticipated to propel the solid NPK market growth during the forecast period.

By Application – Segment Analysis
The food crop held the largest share in the NPK market in 2019 and is growing at a CAGR of 4.5%, owing to the increasing demand of NPK fertilizers for production of food crops such as wheat, rice, pulses and others. There is an increasing demand for food crops as they are a staple food in various regions especially in the Asian countries. The global use of rice for livestock feed has steadily increased over the past several decades. According to the Food and Agriculture Organization (FAO) the global use of rice for feed in 2013 was 33.6 million mt and that feed use has been growing by 0.5 million mt per year since 2003, an average growth rate of 1.7 percent. According to United States Department of Agriculture (USDA) rice consumption in 2019-20 was approximately 102 million tonnes, an increase of 3% and the rice consumption is expected to increase further in 2020-21 to 108 million tonnes with the government pushing more subsidized rice. Thus, the increasing food crop protection and production will require more NPK fertilizers, which are anticipated to drive the NPK market in the food crop sector during the forecast period.

By Geography – Segment Analysis
Asia Pacific region held the largest share in the NPK market in 2019 up to 30%, owing to the increasing agricultural investments by the government in the region. The governments are spending heavily on initiatives and investments in the field of agriculture as it is one of the most effective ways of reducing hunger and poverty, promoting agricultural productivity and enhancing environmental sustainability for the increasing population. In 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. The total quantum of private investment in India is projected to increase (with added investment of Rs. 78,424 crore) from Rs. 61,000 crore in 2015-16 to Rs. 139,424 crore by 2022-23. The Indian government introduced Pradhan Mantri Samman Nidhi Yojana under Budget 2019-20, in which a minimum fixed pension of Rs 3000 (US$ 42.92) is to be provided to the eligible small and marginal farmers, on attaining the age of 60 years. In Japan, a digital farming technology has been developed to help experienced farmers to use water and fertilizers more efficiently. According to Food and Agriculture Organization of the United Nations, Asia Pacific accounts for more than 90 percent of world rice production and consumption and some developing countries in Asia Pacific will need to increase their food production by up to 77 percent to feed their people by 2050. Thus, such government initiatives are increasing the demand of agricultural crops which is further increasing the NPK fertilizers demand. The increasing demand of NPK fertilizers for easy production of crop is anticipated to drive the NPK market in APAC during the forecast period.

Drivers – NPK Market
  • Increasing Agricultural Initiatives By The Government
Due to heavy pressure of population in underdeveloped and developing countries and its rapid increase, the demand for food is increasing at a fast rate owing to which the governments are spending heavily on initiatives and investments in the field of agriculture. The United States Department of Agriculture took an initiative – “The Agriculture and Food Research Initiative (AFRI)” to ensure food safety and security and train the next generation of the agricultural workforce. In 2020, the Canadian government invested a total of $560,000 on the Canadian Federation of Agriculture (CFA) to develop the Canadian Agri-Food Sustainability Initiative. The European government has take initiatives such as Common Agricultural Policy (CAP) and Young Farmers. The 2010- 2013 National Strategy for France’s Sustainable Development aimed to develop a more sustainable food production and support green economy and business innovation, and during the tenure it achieved a higher domestic organic production and consumption. Thus, due to the various initiatives by the government the agricultural production is also increasing in the various regions, which acts as a driver for the NPK market during the forecast period.

Challenges – NPK Market
  • Increasing Substitution of Organic Fertilizer Over Chemical Fertilizer
Organic fertilizers are obtained from animal sources such as animal manure or plant sources like green manure. The continuous usage of inorganic fertilizer affects soil structure. Hence, organic fertilizers can serve as an alternative to the inorganic fertilizers for improving soil structure and microbial biomass. The Government is promoting use of organic / ecological fertilizers by providing financial assistance for setting up of production units of organic fertilizers under following schemes National Project on Organic Farming (NPOF) and National Horticulture Mission (NHM). Under National Project on Management of Soil Health and Fertility (NPMSHF) there is provision for promotion of organic fertilizer up to Rs. 500/- per hectare. Assistance is also available for organic fertilizers under Rashtriya Krishi Vikas Yojana (RKVY). These increasing government initiatives are resulting in the adoption of organic fertilizers which hinder with the NPK market growth during the forecast period.

Covid-19 Impact on The NPK Market
Due to the covid-19 pandemic, there’s been a supply chain disruption in the global and local enterprises which are dealing with manufacturing of NPK ingredients. Due to the covid-19 outbreak the production in these sectors are expecting to experience difficulties like untimely deliveries of NPK. Also the governments banned export and import of certain commodities such as on March 31, 2020, the Eurasian Economic Commission (EEC), banned number of food products, most notably sunflower seeds and soy beans, which would mostly affect Russia, which is a large exporter of sunflower seeds and soybeans. These import and export restrictions are limiting the NPK market growth during the forecast period.

Market Landscape 
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the NPK market. In 2019, the market of NPK has been consolidated by the top five players accounting for xx% of the share. Major players in the NPK market are Acron Group, Agroliquid, Compo Expert GmbH, EuroChem Agro GmbH, Haifa Chemicals Ltd., Helena Chemical Co., Helm AG, Israel Chemical Ltd., Teralytic, Shandong Liaocheng Luxi Chemical Sale Co. Ltd., and Yara International ASA.

Acquisitions/Technology Launches
  • In July 2018, Teralytic launched wireless soil probes for the 2019 planting season. The Teralytic probe contains 26 sensors, including the world’s first wireless NPK sensor to help farmers produce more crops by improving soil health in the fields. 
  • In January 2018, Yara Fertilizers India acquired the complete business of Tata Chemicals’ urea fertilizers business to gain a significant position in North India and enable the company to provide enhanced crop nutrition solutions to farmers.
  • In January 2018, The Mosaic Company acquired Vale Fertilizers. Through the transaction, Mosaic also bought the Kronau potash project in Canada and Vale Fetilizantes’ 40% stake in the Miski Mayo phosphate mine in Peru.
  • In August 2017, EuroChem Group AG acquired Emerger Fertilizantes SA, to strengthen EuroChem’s footprint in Latin America, which is an important region currently accounting for 11% of the Group’s fertilizer sales.
1. NPK Market- Market Overview
    1.1 Definitions and Scope
2. NPK Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by Form
    2.4 Key Trends by Mode of Application
    2.5 Key Trends by Crop Type
    2.6 Key Trends by Geography
3. NPK Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. NPK Market - Startup companies Scenario Premium Premium 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. NPK Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. NPK Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. NPK Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. NPK Market– By Type (Market Size -$Million)
    8.1 Nitrogen
    8.2 Phosphorus
    8.3 Potassium
9. NPK Market– By Form (Market Size -$Million)
    9.1 Solid
    9.2 Liquid
10. NPK Market– By Mode of Application (Market Size -$Million)
    10.1 Soil
    10.2 Foliar
    10.3 Fertigation
    10.4 Others
11. NPK Market– By Crop Type (Market Size -$Million)
    11.1 Food Crops
        11.1.1 Wheat
        11.1.2 Rice
        11.1.3 Pulses
        11.1.4 Others
    11.2 Cash Crops
        11.2.1 Sugarcane
        11.2.2 Cotton
        11.2.3 Oilseeds
        11.2.4 Others
    11.3 Horticulture Crops
        11.3.1 Fruits
        11.3.2 Vegetables
    11.4 Plantation Crops
        11.4.1 Tea
        11.4.2 Coffee
        11.4.3 Others
    11.5 Others
12. NPK Market - By Geography (Market Size -$Million)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 South America
        12.2.1 Brazil
        12.2.2 Argentina
        12.2.3 Colombia
        12.2.4 Chile
        12.2.5 Rest of South America
    12.3 Europe
        12.3.1 U.K
        12.3.2 Germany
        12.3.3 France
        12.3.4 Italy
        12.3.5 Netherland
        12.3.6 Spain
        12.3.7 Russia
        12.3.8 Belgium
        12.3.9 Rest of Europe
    12.4 Asia Pacific
        12.4.1 China
        12.4.2 Japan
        12.4.3 India
        12.4.4 South Korea
        12.4.5 Australia & New Zealand
        12.4.6 Rest of Asia Pacific
    12.5 ROW
        12.5.1 Middle East
   Saudi Arabia
   Rest of Middle East
        12.5.2 Africa
   South Africa
   Rest of Africa
13. NPK Market- Entropy
    13.1 New Product Launches
    13.2 M&A’s, Collaborations, JVs and Partnerships
14. Market Share Analysis Premium
    14.1 Market Share by Country- Top companies
    14.2 Market Share by Region- Top companies
    14.3 Market Share by type of Product / Product category- Top companies
    14.4 Market Share at global level- Top companies
    14.5 Best Practices for companies
15. NPK Market- List of Key Companies by Country Premium 
16. NPK Market Company Analysis
    16.1 Market Share, Company Revenue, Products, M&A, Developments
    16.2 Company 1
    16.3 Company 2
    16.4 Company 3
    16.5 Company 4
    16.6 Company 5
    16.7 Company 6
    16.8 Company 7
    16.9 Company 8
    16.10 Company 9
    16.11 Company 10 and more
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