Dublin, June 24, 2020 (GLOBE NEWSWIRE) -- The "COVID-19 Impact on NPK Fertilizers Market by Nutrient Type (Nitrogenous, Phosphate, and Potash), Crop Type (Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables), and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
Post COVID-19, the global NPK fertilizers market size is estimated to grow from USD 87.2 billion in 2020 to USD 88.7 billion by 2021, at a CAGR of 1.8% from 2020 to 2021.
The major factors driving the growth of this market include increasing reliance on fertilizers for crop productivity enhancement and rising crop demand for animal feed production.
By nutrient type, nitrogenous fertilizers segment to hold the largest market share between 2020 and 2025.
Nitrogenous fertilizers contain nitrogen in ammonia, ammonium nitrate, nitrate, and amide forms. Nitrate form is required by most crop plants, while paddy requires nitrogen in ammonical form. Nitrate fertilizers are readily soluble in water and are quickly available for plant uptake. Amide fertilizers include urea, which contains a high nitrogen level and is used for acidifying soils. Nitrogenous fertilizers are an effective means of increasing crop productivity, especially in irrigated agriculture, where the soils do not contain enough nitrogen.
By crop type, cereals & grains segment to hold the largest market share during the forecast period.
Wheat and other cereal crops are consumed as a major staple food across the world. According to the FAO, ~60% of the corn cultivated across the globe was used as feed in 2016.
New rice export contracts have been suspended in Vietnam, while the lockdown in India, the world's leading rice exporter, has severely curtailed shipments. Furthermore, the panic shopping seen at the outbreak of the pandemic is likely to have receded following a build-up of household stocks of cereals & grains, which could also ease localized demand pressures.
Asia Pacific expected to hold the largest share of the NPK fertilizers market during the forecast period.
Asia Pacific is estimated to account for the largest share of the NPK fertilizers market during the forecast period. According to the FAO, in 2018, the Asia Pacific region was the largest consumer of fertilizers in the world. The share of Asia in world consumption of nitrogen is 62.1%, phosphate 57.6%, and potash 46.4%. Additionally, agricultural technologies are widely accepted and practiced in this region.
Key Topics Covered:
1 Introduction
1.1 COVID-19 Health Assessment
1.2 COVID-19 Economic Assessment
1.2.1 COVID-19 Impact on the Economy - Scenario Assessment
2 COVID-19 Impact on Food, Feed, and Agriculture
2.1 Introduction
2.2 Effect on Global Crop Production
2.3 Effect on Feed Consumption
2.4 COVID-19 Global Protein Market
2.5 Effect on Fertilizer Consumption
3 COVID-19 Impact on Ecosystem of NPK Fertilizers Industry
3.1 Value Chain
3.2 Impact on Value Chain
3.3 Impact on Supply Chain
3.3.1 Raw Materials/Suppliers
3.3.2 Fertilizer Formulators
3.3.3 Distribution and Logistics
3.3.4 End-Use Industry
3.4 Market Dynamics
3.4.1 Drivers
3.4.1.1 Increased Reliance on Fertilizers for Crop Productivity Enhancement
3.4.1.2 Rising Crop Demand for Animal Feed Production
3.4.2 Restraints
3.4.2.1 Impact on NPK Fertilizer Production
3.4.2.2 Inconsistent Raw Material Prices
4 Customer Analysis
4.1 Shift in the Food Industry
4.1.1 Disruptions in the Industry
4.1.2 Impact on Customers' Output & Strategies to Resume/ Improve Sales
4.1.3 New Market Opportunities
4.1.4 Risk Mitigation Strategy
4.2 Shift in the Feed Industry
4.2.1 Disruptions in the Industry
4.2.2 Impact on Customers' Output & Strategies to Resume/Improve Sales
4.2.3 New Market Opportunities
4.2.4 Risk Mitigation Strategy
5 Growth Opportunities in the Agriculture Industry Applications
5.1 Introduction
5.2 Most Attractive Markets: Impacts & Opportunities (Illustrative)
5.2.1 Cereals & Grains
5.2.2 Oilseeds & Pulses
5.3 Worst-Affected Markets: Impacts & Opportunities (Illustrative)
5.3.1 Fruits & Vegetables
5.3.2 Turfs & Ornamentals
6 Short and Mid-Term Strategy Shifts by NPK Fertilizer Manufacturing Companies to Mitigate COVID-19 Impact
6.1 Short and Mid-Term Strategies
6.1.1 Product Level
6.1.2 Application Level
6.2 Regional/Geographic Level
6.2.1 US
6.2.2 Asia Pacific
6.2.3 Europe
6.2.4 Row
6.3 Winning Strategies in the Industry to Gain Market Share
6.3.1 Short-Term Strategy
6.3.2 Mid-Term Strategy
6.3.3 Long-Term Strategy
7 NPK Fertilizers Market: Market Outlook Due to COVID-19
7.1 Nutrients
7.1.1 Nitrogenous Fertilizers
7.1.2 Phosphate Fertilizers
7.1.3 Potash Fertilizers
7.2 Crop Type
7.2.1 Cereals & Grains
7.2.2 Oilseeds & Pulses
7.2.3 Fruits & Vegetables
7.2.4 Other Crop Types
7.3 Geography
7.3.1 Introduction
7.3.2 Asia Pacific
7.3.2.1 India
7.3.2.2 China
7.3.3 Europe
7.3.3.1 Italy
7.3.3.2 Spain
7.3.3.3 UK
7.3.3.4 Other European Countries
7.3.4 US
7.3.5 Rest of the World
8 Company Profiles
8.1 Nutrien Ltd.
8.1.1 Business Overview
8.1.2 Impact Analysis of COVID-19 Pandemic on NPK Fertilizers Market
8.1.3 Impact Analysis of COVID-19 Pandemic on Nutrien Ltd.
8.1.4 Winning Strategies in the Industry to Gain Market Share
8.2 Yara International ASA
8.2.1 Business Overview
8.2.2 Impact Analysis of COVID-19 Pandemic on NPK Fertilizers Market
8.2.3 Impact Analysis of COVID-19 Pandemic on Yara International Asa
8.2.4 Winning Strategies in the Industry to Gain a Major Market Share
8.3 ICL
8.3.1 Business Overview
8.3.2 Impact Analysis of COVID-19 Pandemic on NPK Fertilizers Market
8.3.3 Impact Analysis of COVID-19 Pandemic on ICL
8.3.4 Winning Strategies in the Industry to Gain a Major Market Share
9 Appendix
9.1 Insights of Industry Experts
9.3 Knowledge Store: Subscription Portal
9.4 Author Details
Companies Mentioned
- ICL
- Nutrien Ltd.
- Yara International ASA
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