NPK Fertilizers Market Share: Consumption Ratio, Key Player, Business Prospects with Regional Overview| Forecast

 Market Forecast

NPK Fertilizers Market size 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 market share. The global NPK fertilizers industry is highly fragmented with a large number of players. The market is dominated by multinational players due to their brand recognition. However, the widespread availability of various brands offers consumers leverage over manufacturers.  

Key Players

Following are the key players in NPK Fertilizers market

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)

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

Market USP

 Government support through subsidies

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 market share 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.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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Market Research Future (part of Wantstats Research and Media Private Limited),

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