Global Phosphate Market by Product, by Type, by Application, by Region and Segment, Forecasts 2020–2026

The Global Phosphate Market is valued to reach USD 75.42 billion by 2025, growing at CAGR of 2.5% over the forecast period 2020–2026. The key factors augmenting the market include expanding agricultural industry, growing population base, increased crop production and increase in mining activities.

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The growth of the global phosphates market is driven by the expanding agricultural industry globally. Market growth can also be attributed to the rising demand for nutritious food products coupled with increasing health awareness among consumers, and a growing population base, especially in the developing nations such as India and China.

The consumption of phosphates is increasing in the food & beverage industry in carbonated soft drinks, bottled coffee beverages, dairy products, meats, and eggs. The increasing demand for packaged food and beverages owing to convenience and improved shelf life is driving market growth.

The phosphates market is expected to witness significant growth during the review period with the increasing application in the water treatment chemicals, metal treatment, cosmetics and personal care, pharmaceuticals, and building and construction end-use industries.

Market Trends, Drivers, Restraints and Opportunity:

Demand for phosphate nutrient fertilizers is likely to grow during the forecast span. In addition, phosphate is extensively used for industrial production and applications which in turn impels a high market growth
Rise in global population is anticipated to trigger a high market growth as a result of wide-end applications such as cleansing agents, insecticides, toothpaste and water softeners
Lucrative opportunities in emerging countries is creating a sustainable market development in the years to come
However, availability of low-quality cheap alternatives at inflated prices are likely to constrict the market growth throughout the forecast span. Government regulations and norms are likely to contribute as well