Phosphate Fertilizer Market Type

The cereals and grains segment contributed to the largest share of nearly two-fifths of the global phosphate fertilizer market.

PORTLAND, OREGON, UNITED STATES, July 3, 2023/EINPresswire.com/ -- The cereals and grains segment contributed to the largest share of nearly two-fifths of the global phosphate fertilizer market in 2021 and is expected to dominate the market during the forecast period. Phosphate fertilizer is widely employed for cereals production, as it helps plants to take essential nutrients and enhances plant vigor. Factors such as rise in population, the growth in demand for food, and import & export trade surged the demand for cereals. However, the fruits and vegetables segment is expected to witness the fastest CAGR of 4.3% from 2022 to 2031. This is because phosphate fertilizer is widely used in fruits and vegetable plants to enhance their growth.

The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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The di ammonium phosphate DAP segment grabbed the highest share of more than half of the overall phosphate fertilizer market in 2021 and is projected to maintain its dominance in 2031. Moreover, the same segment is expected to witness the fastest CAGR of 4.2% from 2022 to 2031. The growing population across the globe and rise in awareness of the benefits of consuming organic and healthy food enhanced the demand for pulses. DAP is widely used as fertilizer for pulses where less nitrogen and higher phosphorus are required as starter dose.

This makes it important to understand the practical implications of the phosphate fertilizer market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.

The market in Asia-Pacific was the largest in 2021, accounting for more than half the global phosphate fertilizer market and is likely to dominate in terms of revenue in 2031. The same market in is likely to show the fastest CAGR of 4.5% during the forecast period. The utilization of phosphate fertilizer chemicals in sectors such as agriculture, horticulture, gardening, and others is the major market trend in Asia-Pacific.

KEY MARKET PLAYERS:

The report provides the SWOT analysis of the key market players Nutrien Ltd., Green Agri Solution, Gayatri Fertiplants International Pvt. Ltd, Rama Phosphates Ltd. APEX AGRO INDUSTRIES, OCP, Indorama Corporation, Silverline. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.

The rapid growth of population, a significant rise in the need for various agricultural food products, the surge in the demand for fertilizer & crop protection products, the rise in awareness about healthy lifestyles, and the growing concern about organic and low-calorie supplements among youngsters drive the phosphate fertilizer market. However, a rise in prices of raw materials of phosphate-based fertilizers and the high consumption of phosphate-based fertilizers in soil which slows down the growth of plants hinder the global market growth.

NEED FOR THE REPORT:

The current situation of pandemic makes it very important for the stakeholders in the phosphate fertilizer market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.

According to the report, the global phosphate fertilizer industry was valued at $24.0 billion in 2021 and is estimated to generate $35.6 billion by 2031, witnessing a CAGR of 4.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

KEY OFFERINGS OF THE REPORT:

Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.

Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.

Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.

Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.

Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.

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