Phosphate Rock Market Size To Reach $54.38 Billion By 2033

Phosphate Rock Market Growth & Trends

The global phosphate rock market size is anticipated to reach USD 54.38 billion by 2033 and is anticipated to expand at a CAGR of 5.8% from 2026 to 2033, according to a new report by Grand View Research, Inc. The growth is strongly driven by the rising global demand for fertilizers, supported by population growth and increasing food consumption. Phosphorus is an essential nutrient for crop development, and phosphate rock remains the primary raw material for phosphatic fertilizers. Expansion of agricultural land in emerging economies, along with the need to improve crop yields on limited arable land, continues to sustain long-term demand for phosphate rock.

Farmers are increasingly adopting balanced nutrient application to improve soil health and productivity, which has increased the consumption of phosphate-based inputs. Government support programs, fertilizer subsidies, and initiatives to ensure food security further reinforce the steady uptake of phosphate rock across both developed and developing regions.

Phosphate derivatives are widely used in food preservation, processing, and nutritional supplements, while feed phosphates play a critical role in improving livestock health and productivity. Growth in processed food consumption and rising meat and dairy demand have indirectly supported phosphate rock consumption through these downstream industries.

The expansion of mining capacity and improvements in beneficiation and processing technologies are additional growth drivers. Investments in efficient extraction methods, waste reduction, and recovery of lower-grade ores have enhanced supply availability and improved overall cost efficiency. These advancements have enabled producers to meet rising demand while extending the economic life of existing phosphate rock reserves.

Moreover, increasing awareness around soil nutrient depletion and sustainable agriculture practices has reinforced the importance of phosphorus replenishment. Continuous cropping without adequate nutrient replacement has led to declining soil fertility in many regions, driving the need for phosphate-based fertilizers. As countries focus on improving agricultural productivity and ensuring long-term food supply stability, phosphate rock is expected to remain a strategically important raw material supporting market growth.

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Phosphate Rock Market Report Highlights

• Based on end use, fertilizers accounted for the largest revenue share of over 80.0% in 2025, driven by the extensive use of phosphate rock in the production of phosphate-based fertilizers that support large-scale agricultural activity, ensure soil nutrient replenishment, and meet rising food demand across major crop-producing regions.

• Asia Pacific held the largest revenue share of over 49.0% in 2025, driven by strong agricultural intensity, large fertilizer consumption in countries such as China and India, expanding population-driven food demand, and the presence of both major phosphate rock producers and large-scale downstream fertilizer manufacturing capacity across the region.

• In November 2025, Hubei Xingfa Chemicals commissioned upgraded phosphate chemical and industrial phosphoric acid production lines as part of its capacity optimization program. The expansion strengthens Xingfa’s position in phosphate intermediates used for fertilizers and industrial applications. It also improves operational efficiency and product quality while supporting growing domestic demand. 

Phosphate Rock Market Segmentation

Grand View Research has segmented the global phosphate rock market based on end use and region:

Phosphate Rock End Use Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• Fertilizers

• Food Additives

• Feed Additives

• Pharmaceuticals

• Electronics

• Chemicals

• Metal Parts

• Others

Phosphate Rock Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • Russia

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • Egypt

  • Morocco

  • South Africa

  • Tunisia

  • Jordan

List of Key Players in the Phosphate Rock Market

• Guizhou Kailin Holdings (Group) Co., Ltd.

• Hubei Xingfa Chemicals

• Ma’aden

• Misr Phosphate Company

• OCP SA (Group)

• PhosAgro

• The Mosaic Company

• Wengfu Group

• Yunnan Phosphate Haikou Co., Ltd. (YPH)

• Yuntianhua Group Co., Ltd