Global Phosphate Fertilizers Market to grow by 4.78 Million Tons During 2021-2025 | Growing Demand for Phosphate Fertilizers to Boost Growth | Technavio

NEW YORK, March 29, 2021 /PRNewswire/ -- The phosphate fertilizers market is expected to grow by 4.78 million tons during 2021-2025, expanding at a CAGR of almost 2%. The report throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.

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Phosphate Fertilizers Market: Growing demand for phosphate fertilizers to drive growth
Rapid industrialization, urbanization, and expansion of population have increased the global demand for food. In addition, the decrease in the arable land has led to an increase in the use of fertilizers by farmers to increase their yield. Phosphate fertilizers are one of the most commonly used fertilizers to increase agricultural productivity and quality of yield. All these factors are increasing the consumption and demand for phosphate fertilizers, which is driving the growth of the market.

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As per Technavio, the growing awareness about organic farming will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

Phosphate Fertilizers Market: Growing Awareness About Organic Farming
Organic crops possess lower low levels of toxic metals and minerals compared to conventionally grown crops. They also have four times less pesticide residue than conventional crops. In addition, the sustainable practices adopted in organic farming are environment friendly and do not deteriorate the quality of the soil. Many such benefits are increasing the awareness of organic farming. This has increased the demand for organic fertilizers, which, in turn, is driving the growth of the market.

"Increasing preference for vertical integration among vendors and global initiatives to improve agricultural output will further boost market growth during the forecast period", says a senior analyst at Technavio.

Related Reports on Materials Include:
Global Fertilizer Additives Market – Global fertilizer additives market is segmented by type (granular, prilled, and powdered) and geography (APAC, North America, Europe, South America, and MEA).

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Global Amino Acid Fertilizer Market – Global amino acid fertilizer market is segmented by product (liquid formulated and dry formulated) and geography (Europe, APAC, North America, South America, and MEA).

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Phosphate Fertilizers Market: Segmentation Analysis
This market research report segments the phosphate fertilizers market by application (Cereals and grains, Fruits and vegetables, Oilseeds, and Others) and geography (APAC, South America, North America, Europe, and MEA).

The APAC region led the phosphate fertilizers market in 2021, followed by South America, North America, Europe, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the presence of strong agricultural industry and a large population base.

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Some of the key topics covered in the report include:

Market Challenges
Market Drivers
Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Report: www.technavio.com/report/phosphate-fertilizer-market-industry-analysis

SOURCE Technavio