The global phosphate fertilizer market is projected to grow from USD 66.86 billion in 2023 to USD 111.93 billion by 2032, at a CAGR of 5.89%, according to SNS Insider. This growth is fueled by the rising demand for high-yield crops, especially in developing economies, and the adoption of advanced agricultural practices such as precision farming. Phosphate fertilizers—particularly MAP and DAP—are vital for staple crops like corn, wheat, and soybeans, ensuring nutrient efficiency and soil health. The Asia-Pacific region led the market in 2023 with a 54% share, driven by strong agricultural activity in China and India. North America is expected to register the fastest growth, supported by sustainable farming trends and government incentives.
Monoammonium Phosphate (MAP) dominated the product segment with a 33% market share due to its high nutrient concentration, while the cereals and grains application segment led with 47%, underscoring the role of phosphate fertilizers in securing global food supplies. The market is also supported by major players such as Nutrien, Mosaic, OCP Group, and Yara, along with recent investments in phosphate production capacity in India, Egypt, and other emerging markets. As the global population continues to grow, phosphate fertilizers remain essential to meeting food demand and sustaining agricultural productivity worldwide.

Link: https://www.globenewswire.com/news-release/2025/04/21/3064719/0/en/Phosphate-Fertilizer-Market-to-Reach-USD-111-93-Billion-by-2032-SNS-Insider.html