Phosphatic Fertilizers Market Forecasts to 2028 – Global Analysis By Type (DAP, MAP), Crop Type (Fruit & Vegetable, Cereals & Grains), Channel (Offline, Online), Form (Solution, Powder), Source (Import, Domestic) and By Geography
According to Stratistics MRC, the Global Phosphatic Fertilizers Market is accounted for $66.94 billion in 2020 and is expected to reach $105.09 billion by 2028 growing at a CAGR of 5.8% during the forecast period. Increasing demand for food due to the rising global population and growing meat consumption fuels the demand for fertilizers are driving the market growth. However, stringent government policies and pricing volatility are hampering the growth of the market.
Phosphorus is vital for adequate root development and helps the plant resist drought weather conditions. The aforementioned nutrient is essential for plant growth and development, such as the ripening of seed and fruit. Phosphate is a primary nutrient needed by plants to grow to their full potential. It is essential to normal plant growth, especially for the absorption of the sun’s energy and converting it to useful plant compounds.
Based on the type, the diammonium phosphate (DAP) segment is going to have lucrative growth during the forecast period as diammonium phosphate is the most widely used phosphatic fertilizer because of its excellent physical properties and highly soluble properties. The diammonium phosphate is highly soluble and thus dissolves quickly in soil to release plant-available phosphate and ammonium. By geography, Asia Pacific is going to have high growth during the forecast period owing to the rising population across the globe is boosting the demand for diversified food, growing adoption of phosphate fertilizers in agricultural applications, rising awareness, and adoption of crop nutrition products by farmers within the region to produce quality crops.
Some of the key players profiled in the Phosphatic Fertilizers Market include Yara International ASA, Potash Corp. of Saskatchewan, Coromandel International Ltd., OCP, Mosaic, ICL , Eurochem, CF Industries Holdings Inc., Agrium Inc. and Phosagro.
Estimated Market Size in 2020:
USD 66.94 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 105.09 billion
Tables, Graphs& Figures
Solubility, Type, Crop Type, Distribution Channel, Form, Source and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Citric Acid Soluble
• Water Soluble
• Water & Citric Acid Insoluble
• Diammonium Phosphate (DAP)
• Monoammonium Phosphate (MAP)
• Calcium Phosphate
• Rock Phosphate
Crop Types Covered:
• Pulses & Oil Seeds
• Fruit & Vegetable
• Cereals & Grains
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Phosphatic Fertilizers Market is majorly driven by rising demand for cereals and grains, growing meat consumption fueling the demand for fertilizers and increasing demand for food due to the rising global population.
The diammonium phosphate (DAP) segment is growing at a highest CAGR as it is a key source of nitrogen and phosphorus. It is widely used for a range of crops and is a cost-effective source of nitrogen for crops.
North America dominated with a significant market share due to the decreasing arable land, presence of market players and the demand to produce quality crops because of the rising global population.
Asia Pacific region is growing at a highest CAGR owing to the growing adoption of phosphate fertilizers in agricultural applications and adoption of crop nutrition products by farmers within the region to produce quality crops.
Key players in Phosphatic Fertilizers Market include Yara International ASA, Potash Corp. of Saskatchewan, Coromandel International Ltd., OCP, Mosaic, ICL, Eurochem, CF Industries Holdings Inc., Agrium Inc. and Phosagro.
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