The global phosphate fertilizer market is expected to expand its roots at an average CAGR of 5.5% by 2022-2032, while it holds a revenue of US$ 65.02 Billion in 2022 and is anticipated to hold a market value of USD 105.27 Billion by the end of 2032.
“Growing agriculture producers that are used as fertilizers around the world coupled with their use on various grains to enhance the quality and improve the growth while promoting the root growth are fueling the sales of phosphate fertilizer in new markets.”
Water restraining quality associated with phosphate helps in making it a better choice to be used as a fertilizer. It helps the plant get growth prospects and nutrients as well, fueling the phosphate fertilizer market growth. Phosphate fertilizer helps the whole plant growth and development including the ripening of seed and fruit. Demand for phosphate fertilizer is attributed to factors like factors shifting from traditional fertilizers to smart fertilizers.
Global study on phosphate fertilizer market explains that the regions that are dry and low in moisture levels demand phosphate fertilizers, the farmers try to use phosphate fertilizer on their crops to enhance the cultivation experience and deliver effective crop production. Other factors that trigger the sales of phosphate fertilizer are rising with the farming and irrigation technologies getting advanced with the latest farming trends. This advanced approach is there because of the decline in global crop production due to the changing climate and poor soil quality.
See my previous post below on $IFOS.V
, a "catalyst-rich phosphate pick" - please DYODD, always happy to answer any questions that I can.