Phosphate Fertilizer Market Growth Trajectory Through 2024-2033

The Phosphate Fertilizer by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Phosphate Fertilizer, The phosphate fertilizer market size has grown strongly in recent years. It will grow from $47.11 billion in 2023 to $51.47 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rise in demand for agricultural products, increased demand for organic food and rising demand for a vegan diet..

The phosphate fertilizer market size is expected to see strong growth in the next few years. It will grow to $73.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing population, rapid increase in the exports of phosphates, growing focus on innovative farming techniques and government initiatives.. Major trends in the forecast period include product innovations, strategic partnerships and collaborations, increasing investments, focus on new fertilizer products and crystal green granular phosphate fertilizers..

The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the insecticide market. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, which is expected to increase the demand for herbicides. To meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of the insecticide market.

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The phosphate fertilizer market covered in this report is segmented –

1) By Type: Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Superphosphate, Other Types
2) By Distribution Channel: Online, Offline
3) By Application: Cereals And Grains, Oilseeds, Fruits & Vegetables, Other Applications

There has been a rapid increase in the production and export of phosphates from China. In the past, there was a limited supply of phosphate rock due to limited production capacity and monopolistic pricing in most countries, but, over the past few years, there has been a rapid increase in phosphate production in China. For example, in 2021, China was the world’s top exporter of phosphate and shipped 3.2 million tons of diammonium phosphate fertilizer in the first half of 2021. Therefore, increased production of phosphate is expected to drive the phosphate fertilizer market during the period.

The phosphate fertilizer market report table of contents includes:

1. Executive Summary
2. Phosphate FertilizerMarket Characteristics
3.Phosphate Fertilizer Market Trends And Strategies
4.Phosphate Fertilizer Market analysis
5.Phosphate Fertilizer Market Size And Growth
6.Phosphate Fertilizer Segmentation
7. Phosphate FertilizerRegional And Country Analysis
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27.Phosphate Fertilizer Competitive Landscape And Company Profiles
28.Phosphate Fertilizer Key Mergers And Acquisitions
29.Phosphate Fertilizer Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

OCP SA

The Mosaic Co

Phosagro

Eurochem Group AG

Coromandel International Ltd.

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