Growth at a CAGR of 7.2% in the Food Grade Phosphoric Acid Market over the forecast period (2018 - 2023)| Dominant Players - MOSAIC, OCP, GUIZHOU U-SHARE MATERIALS CO. LTD., GUANGXI QINZHOU CAPITAL SUCCESS CHEMICAL CO. LTD., AGREMA, amongst others

Market Analysis:

Asia-Pacific to Dominate the Market
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.

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The food grade phosphoric acid is used as a food additive in seafood, meat and poultry products for making them firm and smoother. The growing demand for preservative food products, especially in urban areas, is driving the food grade phosphoric acid market. 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.

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Market Segments:
Food Grade Phosphoric Acid Market is segmented by:
1. Food Grade Type: 0.75, 0.85
2. Application: Food Additive, Fragrances, Beverage industry, Bakery, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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.

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