Fertilizers - MAP: Market Size & Forecast 2026

The global phosphate fertilizer market, of which monoammonium phosphate is the dominant product at roughly 55% share, reached approximately USD 18.5 billion in 2025 on a structurally tight supply base anchored by OCP's Moroccan phosphate rock position. We expect the category to grow at roughly 3.8 percent CAGR through 2032, reaching approximately USD 24.1 billion, as food-security imperatives drive nutrient demand against a feedstock supply chain reshaped by the May 2026 Strait of Hormuz disruption and the EU CBAM definitive regime effective from 1 January 2026. A 3.8% CAGR implies the market roughly doubles every 19 years, which the feedstock-constrained, replacement-driven demand profile does support without aggressive acreage expansion assumptions. > **Analyst Take.** The consensus 3.8% CAGR is directionally right but the composition is wrong: roughly 60% of incremental demand to 2032

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