Covid-19 Impact On Npk Fertilizers Market Growth Opportunity, Size, Share, Segmentation, Forecast

By Author: Nikhil khadilkar
Total Articles: 431
Comment this article

Market Forecast

NPK Fertilizers Market is expected to cross USD 25 Billion by 2025 at a CAGR of 2.3% during the forecast period of 2019 to 2025. NPK fertilizers have gained popularity due to increasing awareness among farmers regarding the disadvantages of overapplication of fertilizers. NPK fertilizer products are available in varying ratios and giving farmers the freedom to customize use for their specific needs. Shrinking arable land, changing climatic conditions, and soil infertility are the major factors impacting crop productivity. To overcome these challenges and increase crop yield, farmers are opting for fertilizers, thus, boosting the demand for NPK fertilizers. The Global NPK Fertilizers Market is highly fragmented with many players.

Shrinking farmlands across the globe, concerns regarding 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.

Infographic Images Related Report @ https://www.marketresearchfuture.com/infographics

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)
Growth Opportunities in the Market

Fertigation is the highly preferred mode of application: The fertigation segment dominated the market in 2018 and is expected to remain the largest during the forecast period. The increasing use of irrigation systems, ease of application, and reduced leaching of fertilizers are the major factors contributing to the adoption of this mode of application. However, foliar application is gaining popularity due to its high efficacy, especially for in-season applications.

Increasing cultivation of fruits & vegetables: While the cereals & grains segment dominated the market for NPK fertilizers in 2018, the fruits & vegetables segment is expected to register the fastest growth during the forecast period. The high demand for fruits & vegetables has resulted in increased cultivation, thus, boosting the consumption of fertilizers. Fertigation is the widely used mode of application for horticultural crops.

Access Report Details @ https://www.marketresearchfuture.com/reports/npk-fertilizers-market-8560

Regional Analysis

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.

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.