Sustainable Phosphorus Market Driven by 5.5% CAGR, Fueled by Emphasis on Sustainable Agriculture Development | Projected to Exceed USD 24.0 Billion by 2034 - TMR

Key players operating in the sustainable phosphorus market landscape are focused on continuous efforts to enhance sustainable agricultural practices on a global scale. They are offering innovative phosphorus fertilizer technologies to address the need for more efficient and environmentally friendly nutrient solutions.

WILMINGTON, Del., July 24, 2024 /PRNewswire/ -- The projected growth of the global sustainable phosphorus market is likely to elevate the size of the sector to USD 24 billion by 2034. The industry was valued at USD 13.3 billion in 2023. This change in the size of the competitive space can be attributed to a moderate CAGR of 5.5% through 2034.

With changing agricultural practices across the world, the trend of responsible plant nutrition is gaining momentum. Pertaining to the adverse effects of several fertilizers, these insecticides and pesticides have been under thorough scrutiny.

Owing to the bloom of algae in water sources, oxygen levels in water sources might deplete alarmingly, harming the water ecosystem and nutrients provided to crops. To cater to this growing issue, the demand for sustainable harvesting and cultivating techniques is expected to gain momentum.

The disbalance between different nutrients provided to plants can be observed, which can harm crop health. This factor drives the demand for an artificial supply of nutrients, inducing the necessity of sustainable phosphorous.

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Owing to the growing consumer inclination toward using nutrients rationally for better crop harvest, the demand for sustainable and eco-friendly nutrients is set to elevate. This drives the necessity of nutrients like sustainable phosphorous.

Due to the explosion in population in several countries, the demand for food has increased drastically. To cater to this demand, the agricultural sector has been vastly dependent on inorganic products.

This dependence is responsible for creating an imbalance in nutrient distribution in the soil. In order to restore nutrient proportion in the soil, an external supply must be provided. Owing to this driver, the need for sustainable phosphorous is set to propagate.

Apart from manmade forces, many natural factors like climate changes, storms, and many more, can fluctuate nutrient levels in the soil. This deficiency in the soil can be restored using sustainable phosphorous, driving the ecosystem.

Sustainable Phosphorus Market Report Scope:

Key Findings from the Market Report

• The global sustainable phosphorus market can be segmented into various key categories depending on many parameters. Based on the source, the phosphate rock category is expected to gain more attention, owing to the availability of the element in such rocks.
• Pertaining to the rising demand for sustainable and eco-friendly products, the organic phosphorous category holds a substantial share of the source segment.
• The application segment of the ecosystem is governed by the category of fertilizers. Owing to the rising agricultural applications, phosphorous from fertilizers has been gaining traction in the agricultural industry.
• Based on end use application segment, the agricultural sector is likely to govern the industry, driving the demand for sustainable phosphorous.

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Regional Profile

• With the elevated technological infrastructure in North America, prospects for new entrants along with emerging players are higher, owing to better scope for innovating in the competitive space.
• Owing to the rising agricultural sector in the Asia-Pacific region, better prospects for the sustainable phosphorus market can be seen, which drives the growth of the ecosystem.
• Sustainability trends in Europe are expected to shape the size of the ecosystem in the region. Many drifts in consumer trends related to sustainability have been observed, which fuel the augmentation of products.

Competitive Landscape

With the help of several expansion strategies, including partnerships, strategic collaborations, acquisitions, and mergers, leading companies in the sustainable phosphorus market expand to gain a sustainable competitive edge.

• Yara is a key player that manufactures products and solutions like compound fertilizers, micronutrients, calcium nitrate fertilizers, and many more.
• Nutrien Ltd. manufactures acid cleaners, fume suppressants, ammonium nitrate prilled industrial grade, low density, ammonium nitrate solutions, and many other key products.
• Prayon is another key player, which operates in different industries, including the food and beverage sector, the electronics sector, and the plant nutrition industry.

Key Players

• Yara
• Nutrien Ltd.
• Prayon
• Italmatch Chemicals S.p.A.
• Groupe Roullier
• Veolia Group
• PhosAgro Group of Companies
• Novozymes A/S, part of Novonesis Group

Key Developments in the Sustainable Phosphorus Market

• In July 2023, Nutrien Ltd. curbed the production of potash, which was the response to Vancouver strikes.
• In June 2024, Yara founded a renewable hydrogen plant in Herøya, Norway. This strategic move bolstered the position of the organization in Europe.

Market Segmentation

By Source

• Phosphate Rock
• Recycled Phosphorus
• Organic Phosphorus
• Inorganic Phosphorus
• Others

By Application

• Fertilizers
• Animal Feed
• Detergents
• Flame Retardants
• Food Additives
• Nutritional Supplements
• Pharmaceuticals Ingredients
• Water Treatment
• Others

By End Use

• Agriculture
• Chemicals
• Food & Beverage
• Pharmaceuticals
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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