Press release
Phosphate Fertilizer Market is expected to reach to $73.04 Bn by 2028 at a CAGR of 9.1% over Forecast Period 2024-2033
Phosphate Fertilizer Market Report
The Business Research Company offers in-depth market insights through Phosphate Fertilizer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
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
Major Driver - Population Growth Fuels Demand For Insecticides In Agriculture
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.
Competitive Landscape:
Major companies operating in the phosphate fertilizer market report are OCP SA, The Mosaic Co, Phosagro, Eurochem Group AG, Coromandel International Ltd, Israel Chemicals Ltd, Nutrien Ltd, Maaden - Saudi Arabian Mining Co., Jordan Phosphate Mines Co. PLC, Hubei Xingfa Chemicals Group Co. Ltd, Rama Phosphates Ltd, Shiva Global Agro Industries Ltd, Rastriya Chemicals & Fertilizers Limited, Sinofert, NGI Fertilizer Ltd, Koch Fertilizer Australia Pty Ltd, Sikko Industries Ltd, Fertoz, Nippon Jordan Fertilizer Company, Taki Chemical Co Ltd, China BlueChemical Ltd, CF Industries, Borealis, Fertilore, Sulzer, ICL Fertilizers, HELM IBÉRICA S. A, Casale SA, Uralchem, Acron, UralKali, Yara Canada Inc, Verdesian, Wilbur-Ellis Company LLC, K+S Potash Canada, Agrium Inc, ArrMaz, Bunge Argentina, Itafos, SGS Argentina, CMOC Brazil, GÜBRETAS, Toros Agri, ICL Group Ltd, Saudi United Fertilizer Co, Koch Ag & Energy Solutions (Koch), Misr Phosphate Company, El Wady for Phosphate Industries and Fertilizers (WAPHCO), Foskor
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Top Trend - China's Surging Phosphate Production Boosts Global Phosphorus Fertilizer Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Phosphate Fertilizer Market Characteristics
3. Phosphate Fertilizer Market Trends And Strategies
4. Phosphate Fertilizer Market - Macro Economic Scenario
5. Phosphate Fertilizer Market Size And Growth
…..
27. Phosphate Fertilizer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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