Normal Superphosphate Market

Global Normal Superphosphate Market

The global normal superphosphate market size is expected to reach USD by 2029 from USD in 2023, registering a CAGR of 13% during the forecast period.

Current Scenario of The Normal Superphosphate Market

The fertilizer material that contains at least 15 to 21% phosphorous is produced from phosphorous and sulfuric acid, the so-called normal superphosphate. This fertilizer material can be used for most of the crops and can also be applied during the planting season. Plants can easily absorb phosphorous due to its easily dissolving nature in water. Farmers tend to adopt various techniques to encourage the strong root growth of the plants, which implies producing higher crop yields.  The normal superphosphate supplies high nutrients to the plants when the fruits begin.

Market Drivers

The growing prominence of increasing the crop production rate by focusing on providing excellent fertilizer to the plants is gearing up the growth rate of the normal superphosphate market. Soaring populations across the world are anticipated to surge the need for a high food production rate, which is augmented by adopting new changes in the cultivation of various crops. Growing food insecurity in various countries due to the unprecedented fall of the economy is likely to concentrate on prompting the huge production rate of fruits and vegetables where the use of fertilizer materials is needed utmost. According to a report launched by the Food and Agriculture Organization of the United Nations, African countries are facing a huge food crisis, and alarm bells are ringing regarding food insecurity concerns. Around 282 million people in Africa are undernourished due to a lack of proper food. World Health Organization Global Nutrition is making efforts to reduce the risk of food insecurity by the end of 2030 and reduce the number of people with malnutrition. Adopting new changes in the agriculture farming technique can relevantly increase the crop production rate, which is likely to fuel the growth rate of the normal superphosphate market.

Increasing prominence in adopting sustainable, eco-friendly production can greatly influence the share of the market. The trend towards organic and chemical-free fruits and vegetables and completely avoiding chemical-based products is anticipated to leverage the growth rate of the market. Farmers are more conscious of improving soil health by using prominent fertilizers in agriculture, which is also one of the factors for the market to grow extensively.

Market Restraints

Unfavorable climatic changes due to increasing environmental pollution are a factor that is restraining the growth rate of the normal superphosphate market. Extreme heatwaves, unseasonal rainfall, droughts, and floods, among other natural calamities across the world, are quietly limiting the agricultural production rate, which proportionally limits the size of the market. A lack of skilled people following customized formulation techniques in the agriculture platform may also hinder the growth rate of the market. Many farmers in rural areas are not aware of the available technologies that can improve the production rate due to the lack of proper support from the government organizations in those areas, which can also impede the market’s share. Promoting advanced techniques in farming through campaigns may likely reboot the scope of adopting fertilizer materials in the coming years.

Market Opportunities

The penetration of automation technology in agriculture practices made things easy for farmers. Automation agriculture practices do the work in an effective and easy way, and the scope to increase the crop production rate in minimum time is also raised. Therefore, the rapid adoption of new technologies in agriculture farming techniques is ascribed to creating growth opportunities for the market. Companies focus on developing various strategies to shape their portfolio by collaborating with other top companies, which has prompted a share of the normal superphosphate market.

Top companies also offer customized formulations for the farmers that bring out positive results in the crop yield, which is a dominant factor for the market to grow in the coming years. Farmers are more likely to adopt new technologies like customizing the formulations in fertilizers as they are much more aware of the requirements to get the best results. Shifting the trend towards a plant-based protein diet rather than meat-based products is also a great factor setting up new opportunities for the market in the foreseen years. Nowadays, many people are inclined to adopt healthy plant-sourced diet options that boost the need for effective crop yield. Health-conscious people rapidly eat only fruits and vegetables, which are produced organically, which has more demand, especially in developed and emerging countries, which is sustained to level up the need for high-quality fertilizer materials that drive the growth rate of the normal superphosphate market. Eating only plant-based food undoubtedly reduces the risk of chronic diseases. Slight modifications in lifestyle can have a huge positive impact on the environment. Government authorities are spreading awareness among people to adopt healthy eating habits, which is set to fuel the growth rate of the market. According to the World Health Organization, European countries are more likely to adopt plant-based diets to avoid the risk of chronic illness and take animal welfare into consideration.

Market Challenges

Moderate use of the normal superphosphate is an accountable factor for the positive crop production rate, whereas excess use may result in soil acidification, altering pH levels, and others that may cause adverse effects on the plants, which is a key challenge for the key players in normal superphosphate market. Key players are concentrating on overcoming the challenges faced by traditional farming techniques, which may immensely propel the share of the market in the future period.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Normal Superphosphate Market By Form

The powder segment is gaining huge traction over the share of the normal superphosphate market. Powder form of normal superphosphate cost is very affordable and has excellent properties in expanding the growth of the plants. The easy absorption of the powder from fertilizer material can enhance productivity, which surges the growth rate of this segment. The granular segment is inclined to have prominent growth opportunities in the coming years. The end user can choose the form of the fertilizer according to the requirement, which elevates the share of the market.

Global Normal Superphosphate Market By Crop Type

Grains and cereals crop type is gaining a high, prominent growth rate during the forecast period. Grains and cereals are the major food products in every household in any country. They are the heart of the people who follow a healthy diet regularly as they are rich in nutrients. Grains and cereals are still the staple food products for many people across the world, irrespective of the growing prominence of convenient food products. The fruits and vegetables segment is next, holding a prominent share of the normal superphosphate market. One in two people across the world eats fruits or vegetables in more than one servings per day, according to the Journal of Health, Population, and Nutrition survey report, which means that most people are inclined to eat plant-based food products daily at a higher rate.

Global Normal Superphosphate Market By Application

The base fertilization segment is thriving and leading the largest share of the normal superphosphate market. The rapid adoption of basic tillage operations like shallow plowing to promote the basic fertilization steps in the arable crops to provide excellent nutrients to the soil enhances the growth rate of this segment. The seed treatment segment is likely to have the highest CAGR during the forecast period 2024-2029. Seed treatment is the latest trend in the agriculture sector, and it provides protection to obtain healthy crops.

REGIONAL ANALYSIS

Asia Pacific's normal superphosphate market accounted for the highest share from the past few years and is expected to continue at the same flow rate throughout the forecast period. The presence of major countries like India and China in producing major staple foods is increasing the growth rate of the market in this region. India is the largest producer of wheat and rice, which are the major staple foods for many people all around the world. High support from government organizations in India is lucrative for boosting the market’s size. Chinese government promotes a high level of agriculture practices with the latest technologies. High funds are needed to launch innovative farming techniques to increase crop yield and enhance the scope for normal superphosphate in China.

Europe and North America are expected to grow at the same pace during the forecast period. European Nations are focusing on maintaining net zero emissions by the end of 2050, and the authorities are also focusing on minimizing the carbon emissions from the agriculture sector as well. Focus on reducing wastage in the agriculture sector and following traditional agriculture practices with automation technologies is ascribed to bolster the growth rate of the European Normal Superphosphate market.

In North America, the U.S. and Canada are the major contributors to the growth rate of the normal superphosphate market. The use of only sustainable fertilizers to evaluate the growth of the plants in an appropriate way is likely to fuel the growth of the market in the U.S. and Canada.

Latin America, the Middle East & Africa are attributed in evaluating the prominent growth opportunities for the normal superphosphate market.

KEY MARKET PLAYERS

Key players in the market include Mosaic(U.S.), OCP (Morocco), Yara International ASA (Norway), Phosagro (Russia), Agrium Inc. (Canada), C.F. Industries Holdings Inc. (U.S.), Coromandel International Ltd. (India), Potash Corporation of Saskatchewan (Canada), ICL (Israel), and Eurochem (Russia) among others.

DETAILED SEGMENTATION OF THE GLOBAL NORMAL SUPERPHOSPHATE MARKET INCLUDED IN THIS REPORT

This market research report on the global normal superphosphate market is segmented and sub-segmented into the following categories.

By Form

• Powder
• Granular
• Others

By Crop Type

• Grains & Cereals
• Oilseeds
• Fruits and Vegetables
• Non-Crop Based
  • Turf & Ornamental Grass
  • Plantation Crop
• Others

By Application

• Base Fertilization
• Top Dressing
• Seed Treatment

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa