Emphasis by Type (Diammonium Phosphate, Monoammonium Phosphate, Superphosphate, and Others); Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others); and Region and Country
The global phosphate fertilizer market is likely to showcase a growth of around 5% during the forecast period. The function of phosphorus in plants is to convert nutrients into usable building blocks which help them to grow. Phosphorus is one of the main three nutrients most commonly found in fertilizers and also it is the “P” in the NPK balance that is listed on fertilizers. The use of phosphate fertilizers in various types of crops promotes root growth, improves quality, and enhances stem strength. Thereby, for increasing the strength of plants and crop production, there would be a rise in demand for the adoption of phosphate fertilizers. Further, over the years, the world witnessed a rise in population and is continuously growing to create greater demand for food and changes in food consumption patterns. And the strain on land, which is a limited resource, has also grown. However, the growth of the population outpaced the land growth, thereby reducing the agricultural land per capita. Besides, the change in climatic conditions is reducing the health of the crops and plants. This reduction in crops and plants’ health due to climatic conditions and the rising population has increased the global focus on improving crop yield, thereby increasing the interest of phosphate fertilizers producers to produce more advance, productive, and less human toxic, fertilizers. For instance, in partnership with Western Alfalfa Milling, Fertoz launched Nutrient Vigour Plus 2-4-4-2, an all-in-one fertilizer designed with sustainable, organic ingredients that provide high analysis, important Nitrogen-Phosphorus-Potassium-Sulphur (N-P-K-S) nutrients essential for crop production.
Insights Presented in the Report
“Amongst type, the monoammonium phosphate has a prominent share in the phosphate fertilizer market”
Based on type, the market is categorized into diammonium phosphate, monoammonium phosphate, superphosphate, and others. Among these, monoammonium phosphate has a prominent share in the market. This is mainly attributed due to the low costs of the monoammonium and the high level of the phosphorous present in it. Monoammonium is an essential phosphate fertilizer as it is a vital source of nitrogen and phosphorus. In agricultural activities, it has been used as an important granular fertilizer. It can be utilized either directly or as a raw material for manufacturing various fertilizers such as nitrogen phosphate and nitrogen-phosphate-potassium (NPK) due to its properties such as water solubility and mild corrosive.
“Amongst application, cereals & grains have accounted for a considerable share in the phosphate fertilizer market”
Based on application, the market is categorized into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Among these, cereals and grains held a considerable market share. This is mainly ascribed as cereals and grains are the largest consumed class of crops. Moreover, cereals and grains cover a vast area of cultivation in the world. It has become prominent to use fertilizer for cereals and grains production. Further, the increasing consumption of cereals and grains, such as rice, wheat, rye, corn, oats, sorghum, and barley, across the globe is driving the demand for phosphate fertilizer in this segment.
“Asia-Pacific accounted for a considerable share in the phosphate fertilizer market”
For a better understanding of the market adoption of phosphate fertilizer, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The rise in the agriculture sector of the Asia-Pacific region helped the region to obtain a dominating position in the market. Regional demand for phosphate fertilizer due to agriculture consumption is needed in order to feed the growing and already higher population. Additionally, in countries, such as India and other southeast Asian countries, the arable land per person is decreasing at an alarming rate as the population is increasing and due to pollution and climatic conditions, the health of plants and crops is reducing thereby, increasing the utilization of phosphate fertilizers in the region to increase the average crop yields per hectare.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Phosphate Fertilizer Market Covid-19 Impact
6. Global Phosphate Fertilizer Market Revenue (usd Mn), 2019-2027f
7. Market Insights By Type
8. Market Insights By Application
9. Market Insights By Region
10. Phosphate Fertilizer Market Dynamics
11. Phosphate Fertilizer Market Opportunities
12. Phosphate Fertilizer Market Trends
13. Legal & Regulatory Framework
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for Phosphate Fertilizer Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of phosphate fertilizer, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the phosphate fertilizer industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of phosphate fertilizer through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the phosphate fertilizer market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by type and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of phosphate fertilizer globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the phosphate fertilizer. Further, we conducted factor analysis using dependent and independent variables such as increasing government initiatives to support the agriculture sector and increasing the rate of food consumption. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the phosphate fertilizer industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global phosphate fertilizer market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global phosphate fertilizer market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type and application.
The main objective of the phosphate fertilizer market study
The current & future market trends of global phosphate fertilizer were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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