Global phosphate fertilizers market is touted to witness significant growth over the next seven years. Growing population across the globe resulted in surge of demand for varieties of food. This is expected to be beneficial for the global phosphate fertilizers market over the next seven years. Constant demand for cereals and vegetables in consumers is anticipated to boost the global phosphate fertilizers market over the forecast period. Financial incentives and subsidies from the government for agriculture industry are expected to assist the global phosphate fertilizers market growth. Positive regulations along with venture capital funding are estimated to have encouraging impact on the global phosphate fertilizers market. Lesser arable land led to introduction of improved phosphate fertilizers. Major technological advancements have resulted in higher production capacity. This trend is presumed to enhance the global phosphate fertilizers market growth. Meat and bone meal contains ample amount phosphate and is used a major ingredient in phosphate fertilizer. However, organic fertilizers are gaining attention as an alternative by many end use industry participants owing to their cheaper price and environment friendly attributes. This is touted to emerge as a major hindrance to the global phosphate fertilizers market. Stringent government guidelines in various countries are predicted to hamper many regional phosphate fertilizers market. High initial investments along with long turnover periods results in high financial risks for the market investors. This is estimated to retard the global phosphate fertilizers market. R&D initiatives and technological advances from major market participants have led to extreme cost reductions, promises to create plenty opportunities for the industry participants over the next seven years.
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North America have dominated the global phosphate fertilizers market over the last few years followed closely by Europe, which has emerged as the second largest phosphate fertilizers consumer of phosphate fertilizers. Asia Pacific has also experienced extremely high demand and is anticipated to witness fastest growth over the forecast period. In Asia Pacific, China has the biggest market share for phosphate fertilizers followed closely by India, Bangladesh, Pakistan and Indonesia.
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