Food Phosphate Market Size, Market Competitive Landscape, Business Growth, Share, And Forecast To 2033

Jul 5, 2024 - 16:47

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Overview and Scope
Food phosphate refers to inorganic phosphorus added to processed foods as an additive or preservative to enhance quality, increase shelf life, and improve texture. Food phosphates are widely used in the food industry due to their functional properties, which contribute to many foods product’' consistency, stability, and quality.

Sizing and Forecast
The food phosphate market size has grown strongly in recent years. It will grow from $2.85 billion in 2023 to $3.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased demand for processed and convenience foods, growth in the food and beverage industry, adoption of phosphates as food additives, rise of ready-to-eat and ready-to-cook products, enhancement of food texture and appearance.

The food phosphate market size is expected to see strong growth in the next few years. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to preservation of flavor and nutrient content, increased shelf life of packaged foods, growth in the global population, urbanization, rise in the vegan and plant-based food movement. Major trends in the forecast period include technological advances in food processing, emphasis on sustainable sourcing of phosphates, exploration of microencapsulation for phosphate delivery, introduction of phosphates in clean meat production, adoption of phosphates in functional and fortified foods.

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Segmentation & Regional Insights
The food phosphate market covered in this report is segmented –
1) By Product: Sodium Phosphate, Potassium Phosphate, Calcium Phosphate, Phosphoric Acid, Aluminum Phosphate
2) By Function: Buffers, Sequestrants, Acidulants, Bases, Flavors, Cryoprotectants, Gel Accelerants, Dispersants, Nutrients, Other Functions
3) By Application: Dairy, Bakery Products, Meat And Sea Food Processing, Beverages

North America was the largest region in the food phosphate market in 2023. The regions covered in the food phosphate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Rising meat product consumption is expected to propel the growth of the food phosphate market going forward. Meat product consumption refers to consuming foods made from animal meat. It includes products derived from various animals, such as beef, pork, poultry, lamb, etc. Food phosphates are chemical compounds commonly used in the meat industry for different purposes, including improving meat product’' texture, appearance, shelf life, pH regulation, and moisture retention. For instance, in May 2023, according to a report published by the World Animal Foundation (WAF), A US-based organization dedicated to promoting animal welfare through education, beef consumption in the US was 58.9 pounds per person in 2022. Further, in the US, chicken consumption increased from 115 pounds in 2022 to 117.40 pounds in 2023, and pork consumption increased from 51.1 to 51.6 pounds per person in 2022. Therefore, rising meat product consumption is driving the growth of the food phosphate market.

Key Industry Players
Major companies operating in the food phosphate market report are Nutrien Ltd., Solvay S.A., The Mosaic Company, Arkema SA, OCP Group, SQM SA, Univar Inc., EuroChem Group AG, Israel Chemicals Limited Group, Clariant AG, Aditya Birla Chemicals Pvt. Ltd., Innophos Holdings Inc., Hawkins Inc., Haifa Group, Chemische Fabrik Budenheim KG, Fosfa Inc., Prayon S.A., FBC Industries Inc., Polifar Group Limited, NutriScience Innovations LLC, TKI Hrastnik d.d, Natural Enrichment Industries LLC, Sulux Phosphates Ltd., XINGFA USA Corp, ATP Group

The food phosphate market report table of contents includes:
1. Executive Summary
2. Food Phosphate Market Characteristics
3. Food Phosphate Market Trends And Strategies
4. Food Phosphate Market - Macro Economic Scenario
5. Global Food Phosphate Market Size and Growth

...

32. Global Food Phosphate Market Competitive Benchmarking
33. Global Food Phosphate Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Food Phosphate Market
35. Food Phosphate Market Future Outlook and Potential Analysis
36. Appendix

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