PUBLISHER: Grand View Research | PRODUCT CODE: 1530314
PUBLISHER: Grand View Research | PRODUCT CODE: 1530314
NPK Fertilizers Market Size & Trends
The global NPK fertilizers market was estimated at USD 94.60 billion in 2023 and is projected to grow at a CAGR of 3.1% from 2024 to 2030. The increasing adoption of farming and enhanced crop protection offered by market products contribute to the market's growth. In addition, the rising consumption of dairy and meat products and the growing awareness about food and feed quality are key factors driving the market's expansion.
NPK fertilizer is a chemical fertilizer that contains three primary nutrients: nitrogen (N), phosphorus (P), and potassium (K). These are important in horticulture and modern agriculture. Nitrogen is vital for leafy green growth, as it plays a key role in forming enzymes, proteins, and chlorophyll. The product helps to enhance the plant's photosynthetic capacity and vigorous foliage. Phosphorus aids in root development, fruit and flower formation, and overall energy transfer within the plant. Potassium supports various metabolic processes and enhances and regulates water uptake, loss, and disease resistance. It ensures that plants are well-structured, resilient, and capable of withstanding environmental issues.
Global NPK Fertilizers Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global NPK fertilizers market report based on crop type, mode of application, form, and region:
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
China
Japan
India
South Korea
Brazil
Argentina
Saudi Arabia
South Africa