USD 65.04 billion
Global Phosphate Fertilizer Market Size, Share, Growth Analysis, By Product(Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP)), By Application(Cereals & Grains, Oilseeds & Pulses) - Industry Forecast 2024-2031
Report ID:
SQMIG15C2064 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
65 |
Figures:
75
Global Phosphate Fertilizer Market Insights
Global Phosphate Fertilizer Market size was valued at USD 65.04 billion in 2022 and is poised to grow from USD 68.73 billion in 2023 to USD 106.93 billion by 2031, at a CAGR of 5.68 % during the forecast period (2024-2031).
This market is driven by factors such as the increasing global population, which demands higher food production, and the need to optimize crop yields on limited arable land.
Challenges such as environmental concerns stemming from runoff pollution and the depletion of finite phosphate reserves have led to a shift towards more sustainable practices and innovative solutions.
Precision agriculture, alternative phosphorus sources, and digital tools are trends shaping the market. Regionally, Asia-Pacific and North America are significant consumers and producers due to their extensive agricultural activities, while Europe's focus on environmental regulations influences fertilizer usage.
The market's evolution is characterized by a delicate balance between meeting agricultural demands and ensuring environmental responsibility, necessitating ongoing innovation and adaptation. Please note that this analysis is based on information available up to September 2021, and developments since then may have impacted the market dynamics.
US Phosphate Fertilizer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Diammonium Phosphate (DAP)
Fastest Growth
Monoammonium Phosphate (MAP)
Growth Rate
5.68% CAGR
Global Phosphate Fertilizer Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Phosphate Fertilizer Market By Type ($ Bn)
Global Phosphate Fertilizer Market By Type (%)
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Global Phosphate Fertilizer Market Segmental Analysis
The global phosphate fertilizer market is segmented on the basis of product, application, and region. By product, the market is segmented into Monoammonium Phosphate (MAP), Single Superphosphate (SSP), Diammonium Phosphate (DAP), and Triple Superphosphate (TSP), and Others. By Application, The market is divided into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Phosphate Fertilizer Market Analysis By Product
Among the segmented products in the global phosphate fertilizer market, the largest and most pivotal segment is Diammonium Phosphate (DAP). Its popularity is fueled by its versatility, suitability for various soil types, and efficacy across a broad spectrum of crops. With a significant phosphorus content of around 46% and readily available nitrogen, DAP ensures optimal root development, flowering, and fruiting.
Simultaneously, in the realm of growth, the fastest-growing segment is Monoammonium Phosphate (MAP). MAP's surge is attributed to its fine-tuned phosphorus-nitrogen balance, fostering enhanced nutrient uptake and utilization efficiency. As sustainable agricultural practices gain traction, both DAP and MAP offer tailored solutions that resonate with environmentally conscious farmers, making them integral to the evolving landscape of modern farming.
Phosphate Fertilizer Market Analysis By Application
Cereals & grains, the largest segment, captures the essence of global sustenance, encompassing staple crops like wheat, rice, and corn that form the bedrock of countless diets. Phosphate fertilizers play an indispensable role in this realm, fortifying these crops with the phosphorus they need for robust root systems, enhanced nutrient absorption, and ultimately, bountiful yields. As the world strives to feed an ever-expanding population, the importance of bolstering cereal and grain production remains paramount.
Conversely, the fastest-growing segment, fruits & vegetables, resonates with the growing emphasis on healthy eating and dietary diversity. This segment encapsulates the vibrant spectrum of fresh produce that adorns our plates, from nutrient-rich greens to succulent fruits. The accelerated growth of this segment is a reflection of changing consumer preferences and the rising demand for nutritious options. In this landscape, phosphate fertilizers carve a path toward healthier, more resilient crops, nurturing the vibrant tapestry of our diets and bolstering agricultural sustainability.
Global Phosphate Fertilizer Market By Type, 2023 (%)
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Global Phosphate Fertilizer Market Regional Insights
On the global canvas of the phosphate fertilizer market, two regions shine with distinct significance: Asia-Pacific, the dominating force, and Africa, the fastest-growing frontier. Asia-Pacific stands as the veritable heart of agricultural endeavor, its sprawling landscapes cultivating a rich tapestry of crops that sustain nations. With its expansive farmlands and intricate irrigation systems, this region commands a lion's share of phosphate fertilizer consumption, emblematic of its commitment to nourishing its populations.
On the other hand, Africa emerges as the captivating narrative of growth, where agriculture takes on new dimensions with untapped potential. As technological advancements and modern agricultural practices permeate the continent, the demand for phosphate fertilizers is witnessing an impressive surge. A continent once known for its agricultural promise is now poised to transform into a dynamic hub of innovation and productivity. These regional stories mirror the diverse landscapes of the world, reflecting the intricate relationship between phosphate fertilizers and the cultivation of sustenance and growth.
Global Phosphate Fertilizer Market By Region, 2024-2031
- Largest
- Fastest
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Global Phosphate Fertilizer Market Dynamics
Phosphate Fertilizer Market Drivers
Limited Arable Land and Intensification of Agriculture
- The availability of arable land is diminishing due to urbanization and environmental factors. In response, agricultural practices are becoming more intensive. Phosphate fertilizers aid in optimizing crop growth and yield on limited land by supplying the essential phosphorus required for plant development. This driver is particularly relevant as farmers strive to maximize productivity in constrained spaces.
Phosphate Fertilizer Market Restraints
Depleting Phosphate Reserves and Price Volatility
- Phosphate rock, the primary raw material for phosphate fertilizers, is a finite resource. As reserves are gradually depleted, the industry faces potential supply constraints and price volatility. The dependency on limited resources underscores the urgency for sustainable mining practices, alternative phosphorus sources, and more efficient fertilizer utilization to counteract these challenges.
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Global Phosphate Fertilizer Market Competitive Landscape
The competitive landscape of the global phosphate fertilizer market is characterized by a blend of established industry giants and innovative newcomers, all vying to cater to the ever-evolving needs of modern agriculture. Major players in the market, such as Yara International, The Mosaic Company, OCP Group, and Nutrien, bring decades of experience, extensive distribution networks, and a wide range of product offerings that cater to various crops and geographies. Their global presence and economies of scale provide them with a competitive edge, allowing them to influence market trends and set industry standards. Simultaneously, the landscape is evolving with the emergence of niche players and startups that focus on sustainability and novel formulations. These innovative entrants introduce eco-friendly alternatives, precision agriculture technologies, and digital solutions that resonate with environmentally conscious farmers and the demand for more efficient nutrient management. This dual dynamic fosters a healthy atmosphere of competition and innovation, pushing both established giants and newcomers to continually refine their strategies, improve product portfolios, and adapt to changing market demands.
Phosphate Fertilizer Market Top Player’s Company Profiles
- Yara International - Norway
- The Mosaic Company - United States
- OCP Group - Morocco
- Nutrien - Canada
- EuroChem Group - Switzerland
- CF Industries Holdings - United States
- ICL Group - Israel
- PhosAgro - Russia
- Coromandel International - India
- Agrium (Now Part of Nutrien) - Canada
- K+S Group - Germany
- Jordan Phosphate Mines Company - Jordan
- Israel Chemicals Ltd. (ICL) - Israel
- Potash Corporation of Saskatchewan (Now Part of Nutrien) - Canada
- Haifa Group - Israel
- J.R. Simplot Company - United States
- Gujarat State Fertilizers & Chemicals - India
- Saudi Arabian Mining Company (Ma'aden) - Saudi Arabia
- Ballance Agri-Nutrients - New Zealand
- Itafos - United States
Phosphate Fertilizer Market Recent Developments
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In February 2024, India intends to sign a long-term deal to buy a key fertilizer input from Mauritania. The arrangement includes a joint venture among private and public players to mine, produce, and transport fertilizers to India. Guaranteeing fertilizer security is a huge worry in the present-day situation.
-
In November 2023, an auxiliary of OCP Group set another world record with a fertilizer loading operation. The loading was directed by Comatam SA's groups at the port of Jorf Lasfar, following strict methods and worldwide well-being guidelines. The activity included nonstop coordination with the ship's crew, port authorities, and service providers to guarantee productivity and quality.
-
In December 2023, Oxford Business Group (OBG) delivered the fourth release of its center report named "Agriculture in Africa 2023" as a collaboration with OCP Group, the world's biggest phosphate-based fertilizer producer. The report features massive changes in the African agricultural sector, emphasizing the job of local networks, youth strengthening, and orientation uniformity in cultivating comprehensive development.
Global Phosphate Fertilizer Key Market Trends
- Rising Demand for Enhanced Efficiency Fertilizers: As the world seeks to maximize agricultural productivity while minimizing resource consumption, there's a growing demand for enhanced efficiency fertilizers (EEFs). These fertilizers are designed to improve nutrient uptake by plants, reducing losses through leaching or volatilization. EEFs include controlled-release fertilizers, slow-release fertilizers, and inhibitors that reduce nutrient losses. This trend is driven by both economic considerations, as efficient fertilization can result in cost savings, and environmental concerns, as it aligns with efforts to reduce nutrient pollution and minimize the negative impacts of fertilizers on ecosystems.
- Sustainable Agriculture and Precision Nutrient Management: With increasing environmental concerns and the need to reduce the ecological footprint of agriculture, a prominent trend is the adoption of sustainable practices and precision nutrient management. Farmers and fertilizer manufacturers are focusing on optimizing fertilizer application to minimize waste and environmental impact. Precision agriculture technologies, such as GPS-guided equipment and data analytics, are being employed to tailor fertilizer usage based on specific crop and soil needs. This trend reflects a broader shift towards responsible agriculture, aligning with global sustainability goals and meeting consumer demand for more environmentally friendly farming practices.
Global Phosphate Fertilizer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The global phosphate fertilizer market is shaped by a complex interplay of factors. Rapid population growth drives heightened demand for food production, positioning phosphate fertilizers as a critical component for optimizing crop yields. Limited arable land underscores the importance of these fertilizers in maximizing productivity within confined spaces. The market is segmented into various products, with Diammonium Phosphate (DAP) leading the way due to its balanced nutrient formulation and versatile applicability across crops. Meanwhile, the Cereals & Grains application dominates, reflecting the vital role of phosphate fertilizers in sustaining staple food production. However, environmental concerns and water pollution from runoff, coupled with depleting phosphate reserves, pose challenges. To address these issues, the market is witnessing a shift towards sustainable practices, precision agriculture, and enhanced efficiency fertilizers. This intricate balance between demand, environmental consciousness, and innovation defines the landscape, shaping the trajectory of the phosphate fertilizer market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 65.04 billion |
| Market size value in 2031 | USD 106.93 billion |
| Growth Rate | 5.68% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Phosphate Fertilizer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Phosphate Fertilizer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Phosphate Fertilizer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Phosphate Fertilizer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Phosphate Fertilizer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Phosphate Fertilizer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Phosphate Fertilizer Market Report Snapshots
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