Phosphate Rock Market (By Application: Fertilizers, Food & Feed Additives, Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

The global phosphate rock market size was valued at USD 21.30 billion in 2021, and is predicted to be worth around USD 28.73 billion by 2030, registering a CAGR of 3.1% during the forecast period 2022 to 2030.

Growth Factors:

The increasing demand from the agriculture industry, along with the growing population, is anticipated to fuel the market growth over the forecast period. According to the United Nations, the world population increased by 1.1% from 2017 to 2018 and is projected to reach 9.8 billion in 2050. This is expected to drive the demand for phosphate fertilizers to support the food needs, which, in turn, is expected to propel the utilization of phosphate rock over the coming years. Moreover, growing animal feed production is projected to support the market growth over the coming years.

Phytase is a growing alternative for phosphate feed owing to the high costs of phosphate feeds. It is a vital ingredient in animal feed and affects reproduction, growth, and feed cost. Most of the natural phosphate is unavailable to animals, thus it is important to add inorganic phosphate in diets to compensate for natural phosphate needs. In such cases, phytase is added to improve performance and reduce the cost of animal feed. These benefits of phytase are further expected to affect the market dynamics

Increasing demand from fertilizers is anticipated to boost the demand for phosphate rock over the forecast period. The rising global population, coupled with the growing food industry, is expected to drive the need for grains and cereals over the coming years.

Report Coverage

By Application Analysis

The fertilizers segment accounted for the largest share of over 75.0% in 2021, in terms of revenue. The segment is projected to grow in the years to come owing to the increasing demand from the agricultural industry due to the growing population across the world.

Meat and dairy are the major sources of protein to ensure healthy food for the ever-growing world population. The processed phosphoric acid and limestone are fed into a high-speed mixer to create a homogenous mixture, which is then dried and packed for the end-users.

Hydroponics has been gaining worldwide attention owing to the quality food production and proper resource management. Soil-based farming is facing challenges such as climate change, natural disasters, and declining fertility of the land. In such cases, hydroponics can be greatly beneficial as it involves cultivating plants in nutrient solutions. 

By Regional Analysis

Asia Pacific accounted for the largest volume share of over 45.0% in 2021 due to diversified food needs in populous and emerging countries, such as India and China. The growing demand for food in the region is expected to fuel the utilization of fertilizers in order to increase the efficiency of crop production, which is anticipated to boost the demand for phosphate rock over the coming years. 

The agriculture sector in APAC is expanding and the population is mainly dependent on the domestic farming sector. These factors are encouraging farmers to increase land productivity by using several soil inputs, thus propelling the regional market growth. 

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Phosphate Rock Market include:

• OCP Group
• The Mosaic Company
• Ma’aden
• PhosAgro
• Guizhou Kailin Holdings (Group) Co., Ltd.
• Yuntianhua Group
• Misr Phosphate
• Hubei Xingfa Chemicals
• Wengfu Group
• Yunnan Phosphate Haikou Co., Ltd. (YPH)

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

• By Application 
• Fertilizers
• Food & Feed Additives
• Industrial
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Phosphate Rock market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Phosphate Rock market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Phosphate Rock markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Phosphate Rock Market Study:

• Growth of Phosphate Rock in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Phosphate Rock and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Phosphate Rock Consumption Analysis
•  Phosphate Rock Production Analysis
•  Phosphate Rock and Management