NPK Fertilizers Market Analysis, Growth, Share, Trends, & Forecast to 2023

The report NPK fertilizers (feed-grade and food-grade) Market by Application (Bakery Products, Meat & Meat Products, Dairy Products, and Beverages), Form (Powder, Liquid, and Others), Type (Nitrogen, Phosphorus, Potassium, and Others), and Region – Global Forecast to 2023″ The NPK fertilizers (food-grade) market is estimated to be valued at USD 2.4 billion in 2018 and is projected to reach USD 2.9 billion by 2023, at a CAGR of 4.0%. The market is driven by the rise in consumption of meat & dairy products and increasing awareness about the quality of food products.

Report Objectives:

  • Determining and projecting the size of the NPK fertilizers (food-grade) market with respect to type, form, application, and regional markets, over five years ranging from 2018 to 2023
  • Determining and projecting the size of the NPK fertilizers (feed-grade) market with respect to type, livestock, and regional markets, over five years ranging from 2018 to 2023
  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Identifying and profiling the key players in the NPK fertilizers (feed-grade and food-grade) market
  • Determining the market ranking of the key players operating in the NPK fertilizers (feed-grade and food-grade) market

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=197135673

By type, phosphorus is expected to be the largest contributor in the NPK fertilizers (food-grade) market during the forecast period

The NPK fertilizers (food-grade) market, based on type, has been segmented into phosphorus, nitrogen, potassium, and others. The phosphorus segment is estimated to dominate the market in 2018 and is also projected to be the fastest-growing segment during the forecast period. The usage of phosphate in the food industry is increasing due to its lower price compared to traditional food additives.

By form, powder form accounts for the largest market in the NPK fertilizers (food-grade) market during the forecast period

The NPK fertilizers (food-grade) market, by form, has been segmented into powder, liquid, and others. The market is estimated to be dominated by the powder segment in 2018 and is also projected to grow at the highest CAGR. Powdered NPK fertilizers (food-grade) have a longer shelf life compared to liquid NPK fertilizers (food-grade)and are also convenient to apply and transport. These factors drive the powder segment of NPK fertilizers (food-grade).

Speak to Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=197135673

Asia Pacific is expected to account for the largest market size during the forecast period

The market in Asia Pacific is growing due to changing food consumption patterns owing to the rising consumer income and urbanization, especially in South Asian countries. Further, growth can be attributed to the increasing demand for quality processed and packed food in the region due to increasing disposable income along with growing per capita income in most countries in the region. Skepticism associated with the use of NPK fertilizers (feed-grade and food-grade) is the major restraint for the growth of this market.

Key Market Players:

The global market for NPK fertilizers (feed-grade and food-grade) is dominated by large-scale players such as Borealis AG (Austria), AkzoNobel (Netherlands), Yara International ASA (Norway), Petróleo Brasileiro S.A. (Brazil), and Agrium Inc. (Canada). Furthermore, The Mosaic Company (US), Israel Chemicals Ltd. (Israel), EuroChem (Switzerland), PotashCorp (Canda), K+S AKTIENGESELLSCHAFT (Germany), Alltech (US), PhosAgro (Russia), Haifa Chemicals (Israel), Aditya Birla Chemicals (India), and SKW Stickstoffwerke Piesteritz (Germany) are the other players that hold a significant share in the NPK fertilizers (feed-grade and food-grade) market.