The report “Phosphate Market by Type (Phosphoric Acid, Ammonium, Calcium, Sodium, Potassium), Type of Resource (Sedimentary Marine Deposits, Igneous and Weathered), Application (Fertilizers, Animal Feed, Food Additives), and Region – Global Forecast to 2029″, size was USD 180.99 billion in 2024 and is projected to reach USD 219.74 billion by 2029, at a CAGR of 3.9%, between 2024 and 2029. Phosphates are in great demand especially focusing much on soil health management and sustainable farming. Soil fertility has declined in many regions due to intensive farming techniques, deforestation, and industrial activities degrading the arable land. A common problem which denies efficient productivity in agriculture relates to low phosphorus in the soils. Increasingly, farmers are using phosphate fertilizers to replenish soil nutrients to correct this trend. These factors are likely to drive the phosphate market, shifting towards soil restoration and sustainable farming methodologies.
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• 350 Market data Tables
• 59 Figures
• 294 Pages and in-depth TOC on “Phosphate Market – Global Forecast to 2029″
• 59 Figures
• 294 Pages and in-depth TOC on “Phosphate Market – Global Forecast to 2029″
Some of the prominent key players are:
- OCP Group S.A. (Morocco),
- The Mosaic Company (US),
- PhosAgro Group of Companies (Russia),
- Ma’aden (Saudi Arabia),
- Nutrien Ltd. (Canada),
- EuroChem Group (Switzerland), and many more….
Opportunity: Development of innovation production processes
The development of innovation production processes is expected to create growth opportunities for companies operating in the phosphate market. Significant revolutionary developments in the phosphate market entail the new production processes that bring improvement in the efficiency, sustainability, and cost-effectiveness. The most important innovation is the Improved Hard Process for producing phosphoric acid, which can create and produce highly concentrated and pure phosphoric acid from lower-grade phosphate rock at a lesser cost. This procedure not only provides cost saving but also makes cost savings and facilitates the blending of IHP-produced acid with conventional phosphoric acid to be used as fertilizers and in industrial processes.
Animal feed is estimated to be the second-largest application of phosphate market, in terms of value, during the forecast period.
The animal feed segment is estimated to be the second-largest application in the phosphate market, in terms of value, during the forecast period. Phosphorus forms the basis of many biological functions-which include bone development, energy metabolism, and cellular function. It is one of the important nutrients that animals need to grow and develop well. As consumers become more informed about the origin of their food, they must be guaranteed that animals raised for consumption have been raised in humane conditions. It entails feeding the right nutrition to the animals since it directly influences both their welfare and quality of products they produce.
South America is projected to register the second highest CAGR, in terms of value, during the forecast period in the phosphate market.
South America is projected to register the second highest CAGR in the phosphate market, in terms of value, during forecast period due to several factors. Phosphate reserves and production capacity primarily shape the South American phosphate market. The region’s huge phosphate reserves, especially in Brazil and Peru, have incrementally positioned both countries as a significant player in the supply chain of the global phosphate industry. Based on its essential phosphate rock reserves and consistent investments in mining and production capacities, Brazil has been able to minimize its dependence on importing more phosphate products for local supply.
