Food Grade Phosphate Market Facts, Figures and Analytical Insights, (2017 – 2027)
The global food grade phosphate market has a promising future especially in emerging economies such as the APEJ region during the period of forecast. The global food grade phosphate market is expected to reach a value almost equal to US$ 30 Bn by the end of 2027 to register a CAGR of 2.1% during the period of forecast.
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Global Food Grade Phosphate Market Analysis, Approach, Strategy
Manufacturers are launching food grade phosphate products in order to cater to the evolving needs of customers related to the various food products with various functional properties. Companies are focussing on enhancing their presence in developing regions such as Asia and are also adopting the mergers and acquisitions strategy in order to enter into key regional markets. Ammonium phosphate and Sodium phosphate are the main target products. Ammonium phosphate additives are largely used in agriculture, and as a small proportion in food and animal feed products. Sodium phosphate additives are used as thickening and leavening agents in baked goods.
Asia Pacific excluding Japan (APEJ) region accounts for the highest market share and is expected to witness significant growth over the forecast period. The North America and Western Europe regions account for relatively small market share in the global food grade phosphate market, but these regions are expected to witness rapid growth over the forecast period.
Adopting the just-in-time approach is expected to ensure optimal delivery by developing products themselves as distributors and suppliers of raw materials. More focus is given towards developing food grade phosphates that are associated with the various health benefits in order to cater to the growing number of health conscious consumers and also to fulfil the rising demand for functional food. These strategies are being adopted at the global level.
APEJ Region to Experience High Growth During the Forecast Period
The geographical intelligence provided in the market research report on the global food grade phosphate market reveals that the APEJ region is expected to grow at a fast pace. The APEJ region will hold a higher market share by value (almost 30%), thereby reflecting dominance in this market. This dominance is expected to carry on further and by the end of 2027, increasing opportunities are likely to emerge in the APEJ region. The diversity in “ready to eat” food as well as convenience food, the increasing mineral enriched and fortified food products, the expanding consumer base for products containing phosphate and a large spectrum of food display across all retail formats are favourable for the growth of food grade phosphates, especially in APEJ.
Key Takeaways from the Segmental Analysis of the Global Food Grade Phosphate Market
In terms of value, the ammonium phosphate segment by product type is projected to be the most attractive in the global food grade phosphate market during the forecast period. The ammonium phosphate segment is estimated to account for relatively high value share of 61.4% by 2017 end, and is anticipated to register a CAGR of 2.1% in terms of value over the forecast period. The sodium phosphate segment by product type is estimated to account for a value share of 12.3% by 2017 end, and is anticipated to register a CAGR of 2.0% in terms of value over the forecast period.
The agriculture segment by application is projected to be the most attractive in the global food grade phosphate market during the forecast period. The food & beverage segment is estimated to account for a value share of 9.6% by 2017 end, and is anticipated to register a CAGR of 1.6% in terms of value over the forecast period.
Global Food Grade Phosphate Market: Competitive Intelligence
The report on the global food grade phosphate market has a detailed analysis of the top companies involved in this market. Tier companies such as Aditya Birla Chemicals, Agrium Inc., Compagnie Financiere et de Participations Roullier S.A, Chemische Fabrik Budenheim, Hindustan Phosphates Pvt. Ltd., Innophos Holdings, Inc., Elixir Group Doo., K+S Aktiengesellschaft, Potash Corporation of Saskatchewan Inc., Prayon S.A., S.A OCP, Saudi Arabian Mining Company (MA’ADEN), TKI Hrastnik d.d, Phosagro-Cherepovets Ojsc, Haifa Chemicals ltd., Israel Chemicals Ltd (ICL) Group, Yara International, Spectrum Chemical Manufacturing Corp, SRL Pharma, SeoDo Bio Natural Ingredients Co., Ltd., and Fosfa A.S., are explored in depth in this research study.
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