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Global Sustainable Phosphorus Market Size study, by Source, by Application, by End-use and Regional Forecasts 2024-2032

Global Sustainable Phosphorus Market Size study, by Source, by Application,...

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Global Sustainable Phosphorus Market Size study, by Source, by Application, by End-use and Regional Forecasts 2024-2032
Global Sustainable Phosphorus Market Size...
Report Code
RO3/103/2458

Publish Date
13/Sep/2024

Pages
200
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The global Sustainable Phosphorus Market was valued at approximately USD 13.3 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2024-2032. Sustainable phosphorus refers to the management and use of phosphorus resources in a way that ensures long-term agricultural productivity while minimizing environmental impact. Phosphorus is a critical nutrient for plant growth, but its natural sources, primarily phosphate rock, are finite and unevenly distributed globally. Sustainable practices involve efficient use of phosphorus in agriculture through precision farming, recycling of phosphorus from waste streams, and developing alternative sources. These practices aim to reduce phosphorus runoff, which can lead to water pollution and eutrophication, and to create a closed-loop system where phosphorus is continually reused.

The increasing focus on the rational use of nutrients in agriculture is significantly driving the demand for sustainable phosphorus. Proper utilization of fertilizers can enhance soil quality and sustainably boost agricultural productivity on arable land. Furthermore, the rising emphasis on sustainable agriculture development is augmenting the market value of sustainable phosphorus. Key players in the market are committed to enhancing sustainable agricultural practices globally by offering innovative phosphorus fertilizer technologies that address the need for efficient and environmentally friendly nutrient solutions. This focus on sustainable practices is crucial, as phosphorus is a non-renewable and non-substitutable resource essential for food production. Unsustainable management of phosphorus can lead to severe environmental consequences, such as pollution of water bodies.

The agriculture sector, responding to the global demand for food driven by a rapidly increasing population, is prioritizing the efficient production and use of phosphorus. This includes recycling and waste reduction initiatives, which are expected to contribute positively to the market growth of sustainable phosphorus. For instance, in the European Union, various platforms and projects like NOMAD are being introduced to promote sustainable agriculture through the use of biofertilizers and a circular economy approach.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. The European region held the largest market share in 2023 and is expected to maintain its dominance during the forecast period. This is attributed to the region's proactive approach toward sustainable phosphorus management and the implementation of platforms addressing environmental protection and nutrient sustainability. In contrast, the Asia Pacific region is experiencing significant growth due to the surge in phosphorus production and the expanding agriculture sector, particularly in countries like China and India.

Major market players included in this report are:
Yara
Nutrien Ltd.
Prayon
Italmatch Chemicals S.p.A.
Groupe Roullier
Veolia Group
PhosAgro Group of Companies
Novozymes A/S, part of Novonesis Group
J.R. Simplot Company
Italmatch Chemicals S.p.A.
Innophos Holdings, Inc.
Fosfitalia Group
Sirius Minerals Plc
EuroChem Group AG
K+S Aktiengesellschaft
The detailed segments and sub-segment of the market are explained below:
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
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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