Phosphatic Fertilizers Market Size, Share, Opportunities, And Trends By Product (Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Single Superphosphate (SSP), Triple Superphosphate (TSP), Others), By Form (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2023 To 2028

The phosphatic fertilizers market was valued at US$57.045 billion in 2021 and is expected to grow at a CAGR of 7.15% to reach US$87.086 billion by 2028.

Phosphoric anhydride or the abbreviation P2O5 is typically used to indicate the phosphorus ingredient found in phosphate fertilisers. the amount of phosphorus that is present there. The quantity of HPO4- or H2PO4-ions that the fertiliser gives determines how much phosphorus is made accessible to the plants.

Phosphorus is a mineral that is rapidly absorbed by young plants, and water-soluble phosphatic fertilisers contain it in a form that is readily available in neutral soils. While water-soluble phosphorous is transformed into insoluble calcium phosphate in alkaline and calcareous soils, acidic soils and free iron contain aluminium hydroxy phosphates.

Application of phosphorus fertilizers

Major application areas include agricultural items including fruits, vegetables, grains, and pulses. The use of phosphorous fertilizers for different grains encourages root development, raises crop quality, and strengthens stalks. The most important phosphorus sources on the planet are phosphorus rocks. The use of phosphorous fertilizers in different grains encourages root development, raises crop quality, and strengthens stalks.

Diammonium phosphate (DAP), single superphosphate (SSP), mono ammonium phosphate (MAP), and NPKs are some of the most widely used phosphate fertilizers. Given its capacity to contribute to optimal nutrient management for both food and non-food crops, SSP is widely used throughout the nutrient sectors.

Major growth driving factors

The growing need for food due to an expanding worldwide population is driving up phosphate consumption on a global scale. In the upcoming years, it is anticipated that the rise in raw material prices brought on by increasing expenditures in new mine capacity expansions would persist. Monoammonium phosphate is the largest-growing fertilizer worldwide. The major factor is MAP's low cost and high concentration of phosphorous. Triple superphosphate(TSP) is the second largest growing fertilizer after MAP, which will impact the growth of the TSP fertilizer market.

Increasing consumer demand for meat substitutes and vegan diets, rising demand for cash crops and decorative crops, and rise in the online mode of distribution are some of the other growth driving factors.

Rising demand for cash crops and decorative crops.

The growth in population and disposable income has increased people's ability to purchase expensive goods like decorative and cash crops. Additionally, phosphate fertilizer compounds have been widely adopted by the agricultural and horticultural sectors of the economy, due to their capacity to increase plant production and efficiency.

Increasing consumer demand for meat substitutes and vegan diets

The increased consumption of vegan goods as a source of protein is significantly rising. For protein, consumers are depending more on agricultural goods like soybeans, lentils, and plant-based substitutes. According to the IARC report, eating red meat is considered carcinogenic to humans. This is expected to boost the market for agricultural goods and encourages farmers to invest in soil health and the wise use of fertilizers to promote agricultural production.

The cultivation of soil utilizing copious irrigation and greater use of fertilizers like nitrogen, phosphorous, and potassium is typical practice in intensive farming to produce better yields at reasonable pricing and is predicted to upsurge the market.

Rise in the online mode of distribution of phosphatic fertilizers

The online category is anticipated to experience substantial growth throughout the projection period, due to the quick acceptance of digitization in business practices and the development of e-commerce. Many initiatives are being implemented by governments throughout the world to make it easier to buy fertilizer online through government portals at discounted prices. For instance, the Aadhaar-enabled Fertilisers Distribution System (AeFDS) by the Indian government has declared it mandatory that retailers sell subsidized fertilizers by using Point of Sale (PoS) devices.

Asia Pacific is the largest growing market for phosphatic fertilizers

Asia Pacific is anticipated to the market, which is due to rising food output and rising demand for food items like rice and vegetables from Asia Pacific import-dependent nations. Phosphate fertiliser is used to improve plant maturity, increase crop output, and boost photosynthetic capability in plants.

Manufacturers are focusing on product innovations throughout the region. For instance, Phosphates PAC was launched by ICL Growing Solutions, for the creation of DCP and as a raw material for purification procedures, phosphoric acid (4D) is an appropriate choice. It has extremely low levels of cadmium, arsenic, fluorine, sulphate, and organic materials. appropriate as a raw material for FG Acid and for the synthesis of P feed (MCP, DCP).

India is anticipated to hold significant market share in Asia Pacific region

Among the Asia Pacific region, India is predicted to be largest growing phosphatic fertilizer market. For instance, according to an FAO article from 2023, India is the world's top producer (25 per cent of total production), user (27% of total consumption), and importer (14% of total imports) of pulses, which is anticipated to impact the usage of phosphatic fertilizers in the nation. DAP is frequently used as fertilizer for pulses when less nitrogen and more phosphorus are needed as a beginning dosage.

Additionally, many government initiatives have led to the growth of the phosphatic fertilizers market, for instance, in April 2022, to protect farmers from rising world costs, the government of India granted a subsidy for phosphatic and potash-based fertilizers totalling 609.4 billion rupees ($7.96 billion).

Phosphatic Fertilizer Product Offerings

• NPK 12-61-00 Mono Ammonium Phosphate Fertilizer, Green Agri provides mono ammonium phosphate fertilizer in HDPE bag packaging and pack size ranging from 1 kg to 25 kg.
• Phospho Green Liquid, it is highly regarded in the marketplace. Due to the enormous demand, experts create these items in a variety of styles, with a purity of 60-70%, plastic can packaging, and its liquid consistency makes it easier to use in agriculture.
• Phosphates 4D, the synthesis of DCP and the use of phosphoric acid (4D) as a raw material for purifying procedures are both appropriate. It contains extremely little cadmium, arsenic, fluorine, sulphate, and organic materials. suitable as a raw material for FG Acid and P feed synthesis (MCP, DCP).

Market Key Developments

• In January 2023, OCP, a Moroccan manufacturer of phosphates and fertilizers, announced that it would provide 1.7 million tonnes of phosphate-based fertilizers to India in 2023.
• In March 2022, the Brazilian distributor Fertilizantes Heringer SA's shareholding control was acquired by EuroChem Group, with 51.48% of the shares, further enhancing its manufacturing and distribution capabilities there.
• In February 2022, PhosAgro announced the establishment of PhosAgro-Sibir, a new regional business. The business, which is a subsidiary of PhosAgro, serves agricultural farmers in the Siberian and Far Eastern Federal Districts with direct deliveries of a variety of mineral fertilizers, such as phosphatic fertilisers.

Phosphatic Fertilizers Market Scope:

Segmentation:

• By Product
  • Monoammonium Phosphate (MAP)
  • Diammonium Phosphate (DAP)
  • Single Superphosphate (SSP)
  • Triple Superphosphate (TSP)
  • Others
• By Form
  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others
• By Distribution Channel
  • Online
  • Offline
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others