Phosphate Rock Market To Expand Industry Growth At USD 29.73 Billion By 2030
San Francisco, 27 Apr 2022: The Report Phosphate Rock Market Size, Share & Trends Analysis Report By Application (Fertilizers, Food & Feed Additives, Industrial), By Region (North America, Europe, APAC, South America, MEA), And Segment Forecasts, 2022 - 2030 The global phosphate rock market size is expected to reach USD 29.73 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.2% from 2022 to 2030. The increasing demand from the agriculture industry, along with the growing population, is anticipated to fuel the market growth over the forecast period. According to the United Nations, the world population increased by 1.1% from 2017 to 2018 and is projected to reach 9.8 billion in 2050. This is expected to drive the demand for phosphate fertilizers to support the food needs, which, in turn, is expected to propel the utilization of phosphate rock over the coming years. Moreover, growing animal feed production is proj