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
- 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
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Phosphorus segment is estimated to be the largest in 2018
The NPK fertilizers (food-grade) market, by type, is expected to be dominated by the phosphorus segment. It is also projected to be the fastest-growing segment. The properties of phosphorus such as promoting the preservation and adding desired textures, colors, and flavors in food products at a low cost are responsible for its growing use as a partial replacement for expensive traditional food additives.
Bakery products segment is projected to be the fastest-growing during the forecast period
The bakery products segment is expected to be the fastest-growing, by application, during the forecast period. On a global level, the extensive usage of NPK fertilizers (food-grade) in bakery products to reduce the cost is expected to drive the segment at a significant rate during the forecast period.
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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.
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.
