Increasing Awareness About the Quality of Feed and Food Products Drives the NPK Fertilizers Market

Northbrook, IL, USA, 2020-Jan-22 — /EPR Network/ —The NPK fertilizers market (food-grade) 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% during the forecast period. Rise in consumption of meat & dairy products due to rising disposable income and focus on nutrition is expected to drive the NPK fertilizers (food-grade) market. The NPK fertilizers market (feed-grade) is estimated to be valued at USD 5.4 billion in 2018 and is projected to reach USD 6.6 billion by 2023, at a CAGR of 4.1% from 2018. These feed-grade fertilizers help animals attain faster growth and increase their weight by providing added nutrition to their meals.

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
• Analyzing the segments and subsegments of the global NPK fertilizers (feed-grade and food-grade) market included in the report with respect to individual growth trends, prospects, and their contribution to the global market
• 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
• Providing a comparative analysis of the market leaders based on the following:

• Product offerings
• Business strategies
• Strengths and weaknesses
• Key financials

• Understanding the competitive landscape and identifying the major growth strategies adopted by the players across the key regions
• Analyzing the market dynamics and competitive situations & trends across regions and their impact on prominent market players

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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).

Asia Pacific is projected to be the fastest-growing market during the forecast period

The Asia Pacific market is expected to grow at the highest CAGR from 2018 to 2023. The high growth is attributed to the changing food consumption patterns owing to rising income and urbanization, especially in South Asian countries. Further, growth can be attributed to the increasing urbanization in the region, resulting in a growing demand for food security and quality food. Food manufacturers are expected to use NPK fertilizers (feed-grade and food-grade) as a substitute for regular additives due to their cost-effectiveness and to reduce the final cost of food products, as most countries in the region are price-sensitive.

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This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It consists of the profiles of leading manufacturers such as include 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.

Key Questions addressed by the report:

• Where are the industry players positioned in the industry in terms of the micro quadrants?
• What are the major industry applications for the NPK fertilizers (food-grade)market?
• Which are the major factors expected to drive the market in the near future?
• Which region would offer a higher growth for the players in the market?
• Which type would see the largest market share in the market?