Food Grade Phosphoric Acid Market Report Provides Analysis on Major Companies, Product Type, Regions, Demand and Competition by Forecast 2023

Description:

The food grade phosphoric acid market is expected to grow at a CAGR of 7.2% over the forecast period (2018 - 2023). The European and North American markets are expected to generate demand since recovering from the economy crisis.

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Growing demand for preservative food
Sodium tri-polyphosphate has applications in various end-user industries, such as food & beverages, pharmaceuticals, agriculture and cosmetics. The growing demand for preservative food products, especially in urban areas, is driving the food grade phosphoric acid market. The food grade phosphoric acid is used as a food additive in seafood, meat and poultry products for making them firm and smoother. It is also a preservative in fruits juice, vegetable protein drinks and milk products. Thus, the growing demand for food grade phosphoric acid is anticipated to drive the market demand in the end-user industries, such as pharmaceuticals, food & beverages and agriculture. Food-grade phosphoric acid is a common food additive that leads to decreased bone mineral density. The adverse effect of food grade phosphoric acid acts as a restraint to the market.

Increasing applications in bakery products
By type, the market is segmented into food-grade phosphoric acid-75% and food-grade phosphoric acid-85%. The food grade phosphoric acid is used to acidify food products like colas and has a tangy taste. It can also be used to make phosphates used in food products, such as cheese, bakery products, yeast, jams, jellies, vegetable oils and refined sugar. The food-grade phosphoric acid salts are combined with baking soda to produce baking powder, a leavening agent found in many baked goods. Breakfast or cereal bars, bottled coffee beverages, flavored waters, and processed meats are other processed foods that may contain food-grade phosphoric acid. Fresh meat and poultry products are enhanced with salt solutions to increase their moisture and flavor. These solutions also contain food-grade phosphoric acid or phosphate salts.

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Asia-Pacific dominates the current demand for food-grade phosphoric acid, among all regions, with manufacturing hubs, such as India and China, consistently extending the requirements. The Asia-Pacific food grade phosphoric acid market is expected to grow owing to the growing application industry. China accounts for the largest share in the Asia-Pacific market, of more than 40%, owing to the rising demand from end-user industries like food & beverages.

Major Players: MOSAIC, OCP, GUANGXI QINZHOU CAPITAL SUCCESS CHEMICAL CO. LTD., GUIZHOU U-SHARE MATERIALS CO., LTD., AGREMA.

Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet (in excel).

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Customization of the Report
• Value chain analysis
• Consumer behavior analysis in country level

Companies Mentioned:
Mosaic, Ocp, Guangxi Qinzhou Capital Success Chemical Co. Ltd., Guizhou U-Share Materials Co., Ltd., Agrema.

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