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
[67 Pages Report] Post COVID-19 NPK fertilizers market size is projected to grow from USD 87.2 billion in 2020 and projected to reach USD 88.7 billion by 2021, at a CAGR of 1.8% from 2020 to 2021. The major factors driving the growth of the NPK fertilizers industry include increasing reliance on fertilizers for enhanced crop productivity and rising crop demand for animal feed production. Due to the COVID-19 outbreak, fertilizer manufacturing companies have started adopting safety strategies and techniques, which are expected to lead to an increase in demand for fertilizers, especially as the market growth starts stabilizing.
Supply chain disruptions have affected the NPK fertilizers market.
Supply chain disruptions in the NPK fertilizers market have affected farmers at the very beginning of the food production process, which begins at the farm level. In some regions, lockdowns have been announced to control the spread of COVID-19, thus hampering the movement of vehicles, containers, and raw materials. Raw material price volatility is also a major challenge faced by the manufacturers of NPK fertilizers due to the COVID-19 pandemic.
Shutdowns resulting in production losses have a substantially negative impact on the NPK fertilizers market.
Countries have entirely shut down various business and trade operations to control the spread of COVID-19. These shutdowns have a direct impact on the fertilizer value chain. Currently, fertilizer manufacturers are relying on emergency stocks of raw materials, which will soon be over if the current scenario continues to persist. The shipping industry has already been reporting slowdowns due to the lockdown and port closures, along with further logistical hurdles, which are projected to disrupt the supply chains in the coming months.
Key Market Players
Some of the major players in the global NPK fertilizers market are Nutrien Ltd. (Canada), Yara International ASA (Norway), and ICL (Israel). Nutrien Ltd. has the largest crop nutrient product portfolio, which is combined with a global retail distribution network that includes more than 1,500 farm retail centers. The company specializes in crop nutrition and is engaged in the production and distribution of potash, nitrogen, and phosphate products for agricultural, industrial, and feed manufacturers. Further, due to the COVID-19 outbreak, the company is implementing COVID-19 contingency plans at its manufacturing plants, storage terminals, and agri-retail outlets across the globe to protect employees and the public and to ensure farmers get the fertilizers they need in time for seeding.
Key Questions Addressed by the Report:
- What are the impact of COVID-19 on the NPK fertilizers market and its segments?
- What are the opportunities for NPK fertilizer manufacturing companies?
- How much growth is expected for NPK fertilizer manufacturers in the market?
- Which nutrient type is more lucrative as compared to others?
- Who are the major player, and what are their growth strategies to sustain in the NPK fertilizers market?
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 10)
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 (Page No. - 14)
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 (Page No. - 19)
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 (Page No. - 27)
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 (Page No. - 30)
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 (Page No. - 34)
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: OUTLOOK DUE TO COVID-19 (Page No. - 38)
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 (Page No. - 56)
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 (Page No. - 62)
9.1 INSIGHTS OF INDUSTRY EXPERTS
9.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
9.4 AUTHOR DETAILS
LIST OF TABLES (21 Tables)
TABLE 1 COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY NUTRIENT TYPE, 2020–2025 (USD MILLION)
TABLE 2 NITROGENOUS FERTILIZERS: COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 3 PHOSPHATE FERTILIZERS: MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 4 POTASH FERTILIZERS: COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 5 MARKET, BY CROP TYPE, 2020–2025 (USD MILLION)
TABLE 6 CEREALS & GRAINS: MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 7 OILSEEDS & PULSES: MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 8 FRUITS & VEGETABLES: MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 9 OTHER CROP TYPES: MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 10 IMPACT of COVID-19 ON NPK FERTILIZERS MARKET, BY REGION, 2020–2025 (USD MILLION)
TABLE 11 ASIA PACIFIC: COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 12 ASIA PACIFIC: MARKET, BY NUTRIENT TYPE, 2020–2025 (USD MILLION)
TABLE 13 ASIA PACIFIC: MARKET, BY CROP TYPE, 2020–2025 (USD MILLION)
TABLE 14 EUROPE: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 15 EUROPE: MARKET, BY NUTRIENT TYPE, 2020–2025 (USD MILLION)
TABLE 16 EUROPE: MARKET, BY CROP TYPE, 2020–2025 (USD MILLION)
TABLE 17 US: MARKET, BY NUTRIENT TYPE, 2020–2025 (USD MILLION)
TABLE 18 US: MARKET, BY CROP TYPE, 2020–2025 (USD MILLION)
TABLE 19 REST OF THE WORLD: MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
TABLE 20 REST OF THE WORLD: MARKET, BY NUTRIENT TYPE, 2020–2025 (USD MILLION)
TABLE 21 REST OF THE WORLD: MARKET, BY CROP TYPE, 2020–2025 (USD MILLION)
LIST OF FIGURES (18 Figures)
FIGURE 1 COVID-19 THE GLOBAL PROPAGATION
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES
FIGURE 3 REVISED GDP FORECAST FOR SELECT G20 COUNTRIES IN 2020
FIGURE 4 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 5 EXPORT FORECAST LOWERED FOR BEEF & CHICKEN IN 2020
FIGURE 6 VALUE CHAIN: NPK FERTILIZERS MARKET
FIGURE 7 FERTILIZERS MARKET DYNAMICS
FIGURE 8 GLOBAL CONSUMPTION OF NPK FERTILIZERS IN METRIC TONS, 2012–2017
FIGURE 9 GLOBAL FEED PRODUCTION, 2018 (MILLION METRIC TONS)
FIGURE 10 AMMONIA PRICE, 2014–2019 (USD PER METRIC TON)
FIGURE 11 NATURAL GAS PRICE, 2018–2020 (USD PER MMBTU)
FIGURE 12 SCENARIO-BASED ANALYSIS
FIGURE 13 SCENARIO-BASED ANALYSIS
FIGURE 14 SCENARIO-BASED ANALYSIS
FIGURE 15 SCENARIO-BASED ANALYSIS
FIGURE 16 COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY NUTRIENT TYPE, 2019–2021 (USD MILLION)
FIGURE 17 COVID-19 IMPACT ON NPK FERTILIZERS MARKET, BY REGION, 2020
FIGURE 18 ASIA PACIFIC: COVID-19 IMPACT ON NPK FERTILIZERS MARKET, 2019
The study involved both secondary and primary research processes in estimating the current size of the NPK fertilizers market. Exhaustive secondary research was carried out to collect information on the market, the peer markets, the parent market, and the impact of COVID-19. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources were referred to identify and collect information important for this study. Secondary sources included corporate filings (such as annual reports, press releases, investor presentations, and financial statements); trade, business, and professional associations; white papers, NPK fertilizers industry-based marketing-related journals, certified publications, and articles from recognized authors; gold and silver standard websites; directories; and databases. Secondary data was collected and analyzed to arrive at the overall market size, which has further been validated through primary research. The secondary data was gathered and analyzed to arrive at the global smart lighting market size, which has further been validated by primary research.
Primary Research
In the primary research process, various primary sources from the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side included key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants from various key companies and organizations operating in the NPK fertilizers market.
Primary research has also been conducted to identify segmentation types and key players, as well as to analyze the competitive landscape, key market dynamics (drivers and restraints), and major growth strategies adopted by market players. During market engineering, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to estimate and forecast the market, including the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed during the complete market engineering process to list the key information/insights throughout the report. Primary data has been collected through questionnaires, e-mails, and telephonic interviews.
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Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, were used to estimate and validate the size of the overall NPK fertilizers market and other dependent submarkets listed in this report. Extensive qualitative and quantitative analyses were performed during market engineering to list key information/insights.
Major players in the NPK fertilizers market were identified through secondary research, and their market ranking determined through primary and secondary research. This involved studying the annual and financial reports of top market players and interviews with industry experts (such as CEOs, vice presidents, directors, and marketing executives) for key insights—both quantitative and qualitative.
All percentage shares, splits, breakdowns, and COVID-19 impact estimation have been determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in the NPK fertilizers market report.
Data Triangulation
After arriving at the overall market size through the process explained above, the total NPK fertilizers market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, the market breakdown and data triangulation procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Study Objectives
- To define, describe, forecast, and analyze the NPK fertilizers market by nutrient type (nitrogen, phosphate, and potash fertilizers), crop type (cereals & grains, oilseeds & pulses, fruits & vegetables, and other crop types), and geography
- To forecast the market for various segments with regard to four main regions, namely US, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To assess the impact of COVID-19 on each of the above segments and regions
- To provide detailed information regarding the major factors influencing the growth of the NPK fertilizers market (drivers and restraints)
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the NPK fertilizers market
- To strategically profile the key players and comprehensively analyze the impact of COVID-19 on their respective lines of businesses
Report Scope
|
Report Metric |
Details |
|
Market size available for years |
2019–2025 |
|
Base year considered |
2019 |
|
Forecast period |
2020–2021 & 2020–2025 |
|
Forecast units |
USD million |
|
Segments covered |
Nutrient type, crop type, and geography |
|
Regions covered |
US, Europe, APAC, and RoW |
|
Companies covered |
Nutrien Ltd. (Canada), Yara International ASA (Norway), and ICL (Israel) |
NPK Fertilizers Market Segmentation
By Nutrient Type
- Nitrogenous
- Phosphorus
- Potash
By Crop Type
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (tea, sugarcane, coffee, forage crops, and turfs & ornamentals)
By Geography
- US
- Europe
- APAC
- RoW
Available Customization
With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the NPK fertilizers market report.
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in COVID-19 Impact on NPK Fertilizers Market