The phosphate fertilizers market size is poised to grow at a CAGR of almost 2% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200106005092/en/
Technavio has announced its latest market research report titled global phosphate fertilizer market 2020-2024. (Graphic: Business Wire)
Rising industrialization, urbanization, and population growth have led to a decline in arable land. For instance, the arable land in China reduced by nearly 15 million hectares from 1979 to 1995. With shrinking arable land and declining total factor productivity (TFP), the application of fertilizers must be increased to improve the productivity of crops in the arable land available. The productivity and quality of crops can be improved by using a large range of macronutrients and micronutrients as soil supplements. Phosphate fertilizers can be used in combination with other macronutrients such as nitrogen and potassium to increase agricultural productivity and the quality of yield. Thus, the shrinking arable land and growing demand for food are crucial factors driving the demand for phosphate fertilizers.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40718
As per Technavio, the increasing preference for vertical integration among vendors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Phosphate Fertilizers Market: Increasing Preference for Vertical Integration Among Vendors
Vendors are increasingly engaging in vertical integration as it helps companies to reduce the dependence on suppliers and other stakeholders. It significantly reduces the operating cost and improves process efficiency. For instance, the cost associated with raw material procurement is one of the key expenses for phosphate fertilizer manufacturers. Thus, phosphate fertilizer manufacturers are opting for backward integration to produce raw materials such as phosphate rock by themselves, which helps them reduce cost as well as dependence on suppliers.
Thus, the increase in adoption of vertical integration among vendors will boost the phosphate fertilizers market growth during the forecast period.
“Other factors such as the global initiatives to improve agricultural output and growing awareness about organic farming will have a significant impact on the growth of the phosphate fertilizers market value during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Phosphate Fertilizers Market: Segmentation Analysis
This market research report segments the phosphate fertilizers market by geography (APAC, Europe, MEA, North America, and South America) and application (cereals and grains, fruits and vegetables, oilseeds, and others).
The APAC region led the market in 2019, followed by South America, North America, Europe, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance and account for the highest incremental growth due to factors such as the presence of a strong agriculture industry, large population base, growing per capita income, and reduction in arable land.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Request a free sample report
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005092/en/
