Global Phosphate Rock market will reach 7180 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/5

The market will witness substantial growth in the coming years due to growing demand  for agricultural produce due to increasing population across the world. This is expected to raise the usage of phosphate fertilizers, which enhances the yield, thereby augmenting the market. Food production is rising in order to feed the growing population. Depleting arable land is expected to spike uptake of fertilizers to improve produce in the coming years. Phosphate is also used in animal supplements, which is further expected to create lucrative growth opportunities for the phosphate rock market in the near future.

However, the shifting of consumers towards eco-friendly fertilizers will hamper the growth of the global phosphate rock market over the forecast period.

The new report titled, “Global Phosphate Rock Market Report, History and Forecast 2014-2025”, is expected to reach US$7180 mn by 2025 from US$6710 mn in 2018. The market will register a sluggish CAGR of 1% throughout the forecast period.

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https://www.qyresearch.com/index/detail/988817/global-phosphate-rock-market
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