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Phosphate Fertilizer Market Size Forecast: $69.75 Billion by 2029 | Global Outlook
Phosphate Fertilizer Market
What Is the Projected Market Size Valuation of the Phosphate Fertilizer Market by 2025?
The market size for phosphate fertilizer has shown robust growth in the past few years. An expansion from $52.3 billion in 2024 to $55.02 billion in 2025 is anticipated, representing a compound annual growth rate (CAGR) of 5.2%. Factors contributing to this uptick within the historic period include economic growth in emerging markets, increasing demand for agricultural products, a rise in interest in organic food, and growing preference for vegan diets.
What Is the Estimated Market Growth Value for the Phosphate Fertilizer Industry in 2029?
The market size for phosphate fertilizer is projected to experience robust growth in the upcoming years, expanding to $69.75 billion by 2029 with a compound annual growth rate (CAGR) of 6.1%. This growth during the forecast period is likely due to a swelling population, swift growth in phosphate exports, an emphasis on advanced farming methods, and governmental initiatives. Noteworthy trends anticipated during the forecast period encompass product innovations, strategic partnerships and collaborations, amplified investments, and a focus on novel fertilizer products and crystal green granular phosphate fertilizers.
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What Are the Growth Drivers and Opportunities in the Phosphate Fertilizer Market?
The anticipated increase in global population is predicted to fuel the expansion of the phosphate fertilizer market. The term 'world population' represents the overall count of living individuals on Earth at a specific instance, inclusive of every age, gender, ethnicity, and nationality. The population increase globally is mainly attributable to better healthcare, enhanced fertility rates in some regions, economic progression, migration, urbanization, cultural and religious influences, and progress in agricultural technology. Phosphate fertilizers, which deliver phosphorus, a crucial plant nutrient, are vital for agriculture. For example, as per the United Nations, an intergovernmental organization based in the US, it is forecasted that the worldwide population will touch around 8.5 billion by 2030, 9.7 billion by 2050, and peak at about 10.4 billion during the 2080s. It is expected that this count will persist until 2100. Consequently, the global population increase is propelling the phosphate fertilizer market's growth.
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What Are the Primary Segments Covered in the Global Phosphate Fertilizer Market Report?
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
Subsegments:
1) By Monoammonium Phosphate (MAP): Granular MAP, Liquid MAP
2) By Diammonium Phosphate (DAP): Granular DAP, Liquid DAP
3) By Superphosphate: Single Superphosphate (SSP), Triple Superphosphate (TSP)
4) By Other Types: Phosphoric Acid, Compound Fertilizers (NPK with Phosphate)
What Are the Top Growth Trends in the Phosphate Fertilizer Market?
Leading firms in the phosphate fertilizer market are pioneering modern technology to boost effectiveness, diminish environmental harm, and elevate crop yields. The term phosphate fertilizer technology pertains to the practices and techniques employed to manufacture, utilize, and maximize phosphate fertilizers, crucial for delivering phosphorus - an important nutrient for plant growth and boosting crop yields. Take for example, in March 2023, a US based eco-friendly fertilizer startup, Phospholutions, Inc., unveiled RhizoSorb, an advanced phosphate fertilizer technology tailor-made to amplify the efficiency of phosphorus in agriculture. This copyrighted additive empowers farmers to cut down phosphorus applications by as much as 50%, with no compromise on crop yields, especially for corn and soybeans. RhizoSorb boasts a distinctive plant-driven nutrient release mechanism that augments nutrient accessibility all through the growing period and significantly trims down nutrient runoff by 58% and leaching by 84%.
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Which Companies Are Shaping the Future of the Phosphate Fertilizer Market?
Major companies operating in the phosphate fertilizer market include 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
Which Region Holds the Largest Market Share in the Phosphate Fertilizer Industry?
Asia-Pacific was the largest region in the phosphate fertilizer market in 2024. North America was the second-largest region in the global phosphate fertilizer market. The regions covered in the phosphate fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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