NPK Fertilizers Market Size, Share & Industry Analysis, By Crop Type (Cereals & Grains, Fruit & Vegetables, Oilseeds & Pulses, and Others), By Form (Dry and Liquid), By Application Method (Foliar, Fertigation, and Others), By Nutrient Composition (NPK 15-15-15, NPK 16-16-8, NPK 20-20-0, and Others), and Regional Forecast, 2025-2032

The global NPK fertilizers market size was valued at USD 101.19 billion in 2024. The market is projected to grow from USD 102.48 billion in 2025 to USD 120.60 billion by 2032, exhibiting a CAGR of 2.35% during the forecast period. The Asia Pacific dominated global market with a share of 55.38% in 2024.

NPK (Nitrogen-Phosphorus-Potassium) fertilizers are vital agricultural inputs that enhance soil fertility and crop yield. These balanced nutrient formulations improve plant growth, strengthen root systems, and boost productivity. The growing world population continues to drive the NPK fertilizer demand as farmers seek to increase crop yields and ensure food security. The market’s stable growth is driven by rising food demand, declining arable land per capita, and increasing adoption of precision farming practices. Among regions, Asia Pacific dominates the global market, accounting for nearly 55.39% of the total market value in 2024, supported by vast agricultural activity in India and China. Meanwhile, North America and Europe represent mature markets emphasizing sustainable fertilizer production and precision application.

The global market is dominated by key players, including Yara International ASA, Nutrien Ltd., The Mosaic Company, EuroChem Group AG, OCP Group, and others. These major players are strategically aligning their operations to focus on sustainability, innovation, and market expansion in response to rising food demand, environmental regulations, and evolving farmer needs.

MARKET DYNAMICS

Market Drivers

Increasing Adoption of Balanced Nutrient Application and Compound Fertilizers to Drive Market Growth

Historically, fertilizer application has been imbalanced, with excessive nitrogen use and underutilization of phosphorus and potassium. This imbalance led to soil nutrient depletion and yield stagnation in major crop-producing countries. Governments and industry players are now promoting the balanced use of NPK fertilizers. Countries such as India and China have implemented Nutrient-Based Subsidy (NBS) programs, incentivizing farmers to use compound NPK fertilizers.

• According to Fertiliser India, the NPK fertilizer consumption in India increased from 110.73 million tons in 2023-24 to 142.14 million tons in 2024-25. This shift toward balanced nutrient management is a structural driver of steady NPK market growth.

Market Restraints

Environmental and Regulatory Challenges to Impede Market Growth

The excessive application of nitrogen (N) and phosphorus (P) fertilizers, key components of NPK formulations, leads to runoff into nearby rivers and lakes, causing eutrophication and harmful algal blooms (HABs).

• According to the Food and Agriculture Organization (FAO, 2023), over 50% of the nitrogen and 45% of the phosphorus applied to crops globally are lost to the environment due to inefficient use. These nutrient losses have created more than 400 identified coastal dead zones, covering over 245,000 km² of marine area worldwide, roughly the size of the U.K.

Moreover, in Europe, the Nitrates Directive and the Water Framework Directive are key regulations that set limits on nitrogen and phosphorus applications to protect water quality, further impeding the NPK fertilizers market growth.

Market Opportunities

Expansion of Precision and Smart Fertilization Technologies to Unlock New Growth Opportunities

The expansion of precision and smart fertilization technologies presents significant growth opportunities for the market. These technologies enable more efficient and targeted nutrient application, reducing waste, minimizing environmental impact, and enhancing crop yields. Smart fertilization incorporates Internet of Things (IoT) devices, artificial intelligence (AI), and data analytics to automate and optimize fertilizer applications in real-time, adapting to changing field conditions and crop growth stages. The integration of smart sensors enables continuous monitoring of soil health and plant nutrient status, allowing for precise nutrient management.

NPK Fertilizers Market Trends

Growing Focus on Organic and Specialty NPK Blends to Shape the Industry

Organic and specialty NPK blends have emerged as a prominent recent trend in the global market, driven by increasing demand for sustainable and eco-friendly agricultural inputs. These blends combine the balanced nutrient supply of traditional NPK fertilizers with organic matter or bio-based ingredients, enhancing soil health and promoting long-term fertility. Organic NPK blends are gaining traction among farmers who seek to reduce their dependency on chemical fertilizers while maintaining crop productivity. This trend aligns with the global push toward regenerative agriculture, organic farming certification, and consumer demand for chemical-free produce. It is particularly strong in regions such as Europe, North America, and Asia Pacific, where environmental regulations and sustainability initiatives are encouraging adoption.

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SEGMENTATION ANALYSIS

By Crop Type

Massive Global Cultivation Area to Lead Cereals & Grains Segment’s High Market Proportion

Based on crop type, the market is segmented into cereals & grains, fruits & vegetables, oilseeds & pulses, and others.

The cereals & grains segment dominated the global NPK fertilizers market share, accounting for the largest revenue in 2024, valued at USD 55.34 billion, and projected to reach USD 65.11 billion by 2032, growing at a CAGR of 2.19% (2025–2032). The dominance of this segment is driven by the massive global cultivation area under cereals (rice, wheat, maize). The Food and Agriculture Organization (FAO) raised its global cereal production forecast for 2025 by 10.1 million tons to 2,971 million tons, an increase of 0.3%. Continuous emphasis on yield enhancement and soil nutrient restoration supports steady segment growth.

The fruits & vegetables segment is expected to grow at a CAGR of 2.86% over the forecast period.

By Form

Cost Effectiveness and Widespread Suitability to Lead Dry Form Segment Growth

Based on form, the market is segmented into dry and liquid.

The dry form remained the leading segment, generating USD 65.34 billion in 2024 and is forecasted to reach USD 75.96 billion by 2032, with a CAGR of 2.04%. Its dominance is attributed to its cost efficiency, ease of storage, and widespread suitability for large-scale farming applications, such as cereals and grains.

The liquid segment is expected to grow significantly at a CAGR of 2.91% during the forecast period.

By Application

Rapid Absorption Rate to Fuel Foliar Segment Market Leadership

On the basis of application, the market is segmented into foliar, fertigation, and others.

Foliar application led the global market, accounting for USD 45.32 billion in 2024 and expected to reach USD 53.99 billion by 2032, at a CAGR of 2.35%. Foliar mode of application enables rapid nutrient absorption and is particularly beneficial for fruits and vegetables.

The fertigation segment is anticipated to grow at a CAGR of 2.76% during the forecast period.

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By Nutrient Content

NPK 15-15-15 Segment Dominated Market as It Optimizes Yield and Quality

On the basis of the nutrient content, the market is segmented into NPK 15-15-15, NPK 16-16-8, NPK 20-20-0, and others.

NPK 15-15-15 held the top position, growing from USD 44.48 billion in 2024 to USD 53.44 billion in 2032, at a CAGR of 2.45%. This blend is widely applied for cereals, fruits, and oilseeds, owing to its balanced nutrient profile. Its popularity stems from the ability to support balanced crop nutrition, optimize yield and quality, and improve overall soil fertility management.

The NPK 16-16-8 segment is expected to grow at a CAGR of 2.79% during the forecast period.

NPK Fertilizers Market Regional Outlook

Regionally, the report covers the global market analysis across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific

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Asia Pacific led the global market, accounting for 55.39% of total revenue in 2024. The region’s growth is fueled by the vast cultivation of rice, wheat, and horticultural crops in China, India, Indonesia, and Vietnam. Increasing government fertilizer subsidies, rising adoption of liquid fertilizers, and emphasis on balanced nutrient management drive growth. The region is expected to expand at a CAGR of around 2.72%, making it the fastest-growing global market.

Europe

Europe ranks second, supported by sustainable agriculture policies under the EU’s Common Agricultural Policy (CAP) and rising use of precision fertigation in Western Europe. The region’s shift toward environmentally-friendly nutrient compositions (especially nitrate-free NPK blends) contributes to moderate expansion at a CAGR of 1.93% through 2032. Market dynamics are shaped by major players such as Yara International, BASF, and EuroChem investing in innovation and bio-based fertilizer solutions, aligning products with sustainability goals and farmer needs in Europe

North America

North America holds a steady market share, with a mature fertilizer sector anchored by the U.S. and Canada. High mechanization, coupled with increasing liquid fertilizer applications for corn and soybean production, supports a CAGR of 1.70% (2025–2032). Regional adoption of slow-release and water-soluble NPK fertilizers is also on the rise. The U.S. accounted for 69.82% in 2024, driven by subsidies for precision agriculture and the use of variable-rate nutrient platforms, which efficiently met rising food demand and soil nutrient management needs.

South America

South America shows significant potential, expanding at a CAGR of 2.30%, driven by Brazil’s soybean and sugarcane industries and increased adoption of high-efficiency fertilizers. The region benefits from expanding agricultural export activities and the government's focus on replenishing soil nutrients.

Middle East & Africa

The Middle East & Africa exhibit gradual progress, with demand primarily centered in Egypt, South Africa, and Nigeria. Growth is supported by improved irrigation infrastructure and government-backed initiatives promoting nutrient-balanced fertilizers. The market is projected to grow at a CAGR of 1.44% from 2025 to 2032.

COMPETITIVE LANDSCAPE

Key Industry Players

Strong Focus on Technological Innovation and Geographic Expansion to Support Market Growth

The global NPK fertilizers market is moderately consolidated, characterized by the presence of established multinational corporations and strong regional producers that cater to localized agricultural needs. Market participants in the global NPK fertilizer market are focusing on strategic partnerships and product innovations to enhance nutrient efficiency and meet the rising demand for sustainable agricultural solutions.

Key Players in the NPK Fertilizers Market

 List of Key NPK Fertilizer Companies Profiled

• Yara International ASA (Norway)
• Nutrien Ltd. (Canada)
• The Mosaic Company (U.S.)
• EuroChem Group AG (Switzerland)
• ICL Group Ltd. (Israel)
• OCP Group (Morocco)
• Coromandel International Ltd. (India)
• PhosAgro PJSC (Russia)
• Haifa Chemicals Ltd. (Israel)
• CF Industries Holdings, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS

• September 2025: Rashtriya Chemicals and Fertilizers Ltd (RCF) launched the RCF NPK Project at its Thal unit to strengthen India's domestic supply of DAP and NPK fertilizers. The project involves setting up a new complex fertilizer plant with a capacity of 1,200 metric tons per day (MTPD) on a DAP basis.
• October 2024: Larsen & Toubro (L&T) secured a contract to build a new NPK fertilizer plant for Rashtriya Chemicals and Fertilizers Limited (RCF) at their Thal unit in Raigad district, Maharashtra. The project, under L&T's Hydrocarbon Business (LTEH), involves the License, Engineering, Procurement, and Construction (L-EPC) of a 1,200 metric tonnes per day (MTPD) NPK fertilizer plant based on DAP.
• February 2024: Lucent Bio announced to launch of a biodegradable and microplastic-free controlled-release fertilizer coating product by the end of 2025. This product will be based on their patented biodegradable nutrient delivery fertilizer technology and is intended for NPK fertilizers.
• October 2023: ICL Growing Solutions launched four new water‑soluble micronutrient and NPK products for North America under its Nova line: Nova PULSE, Nova FINISH, Nova ELEVATE, and Nova FLOW, formulated for foliar and fertigation use with high solubility and compatibility for precision crop nutrition in the U.S. market.
• March 2022: Nuberg EPC was awarded the contract to construct a brownfield 1,650 TPD (tons per day) NPK fertilizer plant for the Fertilisers and Chemicals Travancore Limited (FACT) at its Cochin Division in Ambalam Edu, Ernakulam district, Kerala. This project is an expansion to enhance FACT's total production capacity to 3,650 TPD of complex fertilizers.

REPORT COVERAGE

The global NPK fertilizers market industry report analyzes the market in depth and highlights crucial aspects such as global market trends, secondary research market dynamics, market share analysis, prominent companies, investment in research and development, and end-use. Besides this, the report also provides insights into the global market analysis and highlights significant industry developments.

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Report Scope & Segmentation