Animal are among the most important assets for any farmer. To keep these assets in their prime conditions, it is important for these animals to have a proper diet. They need this regular and proper diet, care, and nutrition so as to offer best results. Because of the growing awareness about animal health and well-being across the globe, the feed phosphate market is projected to develop at a great pace in the near future. The development of the global feed phosphate can also be attributed to rise in the number of industries such as agriculture and animal husbandries. These sectors are among the major consumers of feed phosphate and because of the excessive consumption of feed phosphate, the global market is on course to achieve a highly promising growth in the near future. One of the key driving factors for the growth of the global market in recent years has been the growing demand for meat.
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Mergers and Collaborations to Define Vendor Landscape
The vendor landscape of the global feed market is moderately fragmented. The vendor landscape is expected to witness an intense competition in coming years are more number of players strive to reach at the top of the food chain. Moreover, these companies are expected to adopt aggressive marketing strategies such as mergers, joint ventures, and collaborations in order to stay ahead of the competitive curve. For example, in August 2019, the Mosaic Company agreed to enter into an agreement with Sinochem. The latter is the largest company in China, which deals with the agricultural inputs. This new agreement will now allow Mosaic Company to take advantage of the huge reserves of phosphate of Sinochem. The agreement is beneficial for both the companies as they look to strengthen their regional and product portfolio.
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