PUBLISHER: The Business Research Company | PRODUCT CODE: 1653152
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653152
NPK fertilizers are named for main components such as nitrogen, phosphorus, and potassium, and their proportions are represented by the NPK ratio. For example, a fertilizer labeled as 20-20-20 indicates equal proportions of these three essential nutrients. This type of fertilizer, also known as a balanced or complete fertilizer, provides crucial elements for plant development and overall health.
The main types of NPK fertilizers include those containing phosphorus, nitrogen, potassium, and others that may include secondary nutrients and micronutrients. Phosphorus is a vital component for the growth of seeds, plants, and roots. The presence of phosphorus aids in various growth processes, and its levels in the soil can diminish due to factors like erosion. NPK fertilizers come in various forms, such as powder, liquid, and others like crystals, prills, and pellets. Additionally, NPK fertilizers can be classified into two main types based on their nature: organic and synthetic. Organic NPK fertilizers are derived from natural sources, while synthetic ones are chemically manufactured.
The NPK fertilizers market research report is one of a series of new reports from The Business Research Company that provides NPK fertilizers market statistics, including NPK fertilizers industry global market size, regional shares, competitors with an NPK fertilizers market share, detailed NPK fertilizers market segments, market trends and opportunities, and any further data you may need to thrive in the NPK fertilizers industry. This NPK fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The NPK fertilizers market size has grown strongly in recent years. It will grow from $3.89 billion in 2024 to $4.15 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to agriculture expansion, population growth, soil nutrient depletion, crop intensification, government subsidies.
The NPK fertilizers market size is expected to see strong growth in the next few years. It will grow to $5.97 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to climate change, government subsidies, organic agriculture, regulatory changes, mechanization and modern farming. Major trends in the forecast period include precision agriculture, sustainable farming, innovative formulations, urban agriculture, water-saving technologies.
The growing demand for fertilizers is propelling the expansion of the NPK fertilizers market. Fertilizers are substances that contain chemical elements that aid in plant growth and productivity. The demand for fertilizers continues to rise, as they can restore the chemical elements that previous crops have depleted from the soil or enhance the land's natural fertility. NPK fertilizers are the most widely used source of nitrogen nutrition for plants. For example, in 2022, a report from the United Nations Environment Program on the environmental and health impacts of pesticides and fertilizers noted a significant increase in the global demand, production, and consumption of these products over the past few decades. By 2025, combined global sales are expected to grow by approximately 4.1%, reaching USD 309 billion. Thus, the increasing demand for fertilizers is likely to drive the demand for NPK fertilizers during the forecast period.
The growth of the NPK fertilizers market is anticipated to be further propelled by the increasing global demand for food. With the world's population expanding and dietary preferences evolving, there is a heightened need for enhanced agricultural production, improved crop quality, and diversified food options. NPK fertilizers play a crucial role in meeting these demands by boosting crop yields, improving nutritional content, and overall quality. As revealed in a report by the United States Department of Agriculture in July 2023, global food service and retail sectors provided around $2.39 trillion worth of food in 2022, a notable increase from the previous year. The escalating global food demand is a significant driver for the NPK fertilizers market.
Leading companies in the NPK fertilizers market are concentrating on creating innovative solutions, such as water-soluble NPK fertilizers, to address the increasing demand for efficient and sustainable agricultural practices. Water-soluble NPK fertilizers completely dissolve in water, allowing for the immediate availability of essential nutrients-nitrogen (N), phosphorus (P), and potassium (K)-for quick plant uptake, improved growth, and effective application through irrigation systems. For example, in October 2023, ICL GROUP LTD, an Israel-based manufacturing company, introduced a new line of water-soluble fertilizers in North America under the Nova brand. This range includes four innovative products: Nova PULSE, a PK foliar fertilizer tailored for legume crops; Nova FINISH, a high-potassium option for late-stage growth; Nova ELEVATE, which incorporates cobalt and molybdenum to enhance nitrogen efficiency; and Nova FLOW, designed for late-season growth with essential NPK, magnesium, sulfur, and boron. These fertilizers aim to enhance crop nutrition, address deficiencies, and support overall plant health during crucial growth phases while being compatible with a variety of herbicides and crop protectants.
Major companies operating in the NPK fertilizers market are focusing on the development of water-soluble fertilizers to maintain their market position. Water-soluble fertilizers, which easily dissolve in water to form liquid fertilizer solutions, offer effective nutrient delivery. In June 2023, ICL Group Ltd., an Israel-based specialty food ingredients company, launched a new line of advanced water-soluble fertilizers under their Nova brand, targeting the North American agriculture market. These solutions, such as Nova FINISH, Nova PULSE, Nova ELEVATE, and Nova FLOW, aim to provide high-purity, water-soluble N-P-Ks and micronutrients tailored to crop nutrient requirements.
In April 2023, Petchem Investment Holdings Pte. Limited, a Singapore-based investment holding company, acquired a 51% stake in TAK Agro & Chemicals Limited for an undisclosed amount. This strategic acquisition allowed Petchem Investment Holdings to expand its presence in the fertilizer sector, offering quality NPK fertilizers alongside Urea and contributing to increased fertilizer consumption in Nigeria. TAK Agro & Chemicals Limited, based in Nigeria, imports, manufactures, and blends fertilizers for the agricultural sector.
Major companies operating in the npk fertilizers market include Aditya Birla Chemicals Ltd., Agrium Inc., AkzoNobel N.V., Alltech Biotechnology Pvt Ltd., Borealis AG, Kingenta Ecological Engineering Group Co Ltd., Yara International ASA, Xinyangfeng Agricultural Technology Co Ltd., EuroChem Group AG, China Xinlianxin Fertilizer Co Ltd., BASF SE, Coromandel International Ltd., Fertilizer Engineering & Equipment Company Inc., Potash Corporation Of Saskatchewan Inc., CF Industries Holdings Inc., K + S Aktiengesellschaft, Mosaic Global Holdings Inc., Nutrien Ltd., Uralkali PJSC, Sociedad Quimica y Minera de Chile S.A., Israel Chemicals Ltd., Indian Farmers Fertiliser Co-operative Ltd., Kali und Salz GmbH, OCI Co Ltd., PhosAgro, Sinofert Holdings Ltd., CVR Partners LP
Asia-Pacific was the largest region in the NPK fertilizer market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the NPK fertilizer market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the NPK fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The NPK fertilizers market consists of sales of chlorine-based compound fertilizer and urea-based compound fertilizer. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
NPK fertilizers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on npk fertilizers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for npk fertilizers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The npk fertilizers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.