The global phosphate fertilizer market size is expected to grow from $38.59 billion in 2021 to $42.57 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The global phosphate fertilizer market size is expected to grow to $61.83 billion in 2026 at a CAGR of 9.8%.
What is the Global Phosphate Fertilizer Market?
The phosphate fertilizers market consists of sales of phosphate fertilizers. Phosphate fertilizer manufacturers produce phosphatic fertilizer materials and other phosphatic materials and mix them into fertilizers. Ammonium phosphate, defluorinated phosphate, and di-ammonium phosphate are examples of the phosphate fertilizer segment.
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What drives the Global Phosphate Fertilizer Market?
The world population is growing and is expected to reach 10 billion by 2050 and is expected to significantly boost the insecticides market. An increase in 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 in 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 insecticides market.
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Global Phosphate Fertilizer Market Segments
The global phosphate fertilizer market is segmented:
1) By Type: Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Superphosphate, Other Types
2) By Application: Cereals & Grains, Oilseeds, Fruits & Vegetables, Other Applications
3) By Distribution Channel: Online, Offline
By Geography: The regions covered in the phosphate fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Phosphate Fertilizer Global Market Report 2022provides market size and growth forecasts for the global phosphate fertilizer market, global phosphate fertilizer market share, phosphate fertilizer market segments and geographies, phosphate fertilizer market competitive landscape including leading competitors’ revenues, profiles and market shares. The phosphate fertilizer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Phosphate Fertilizer Industry Playersinclude Agrium Inc, Israel Chemicals Limited, CF Industries Holdings Inc, Coromandel International Ltd, Nutrien Ltd, PhosAgro, Yara International ASA, EuroChem Group A, The Mosaic Company, and OCP S.A. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
