What's driving the Feed Phosphate Market Growth? EuroChem, PotashCorp, Elixir Group, PhosAgro AG, Rotem, Wengfu Australia, OCP Group, Inc., Timab, FOSFITALIA SPA
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1. Yara International
2. The Mosaic Company
5. Elixir Group
6. PhosAgro AG
8. Wengfu Australia
9. OCP Group, Inc.
11. FOSFITALIA SPA
12. Reanjoy Laboratories – India
13. Lifosa AB
14. Malaysian Phosphate Additives Sdn. Bhd.
These products are added to the commercial animal feed and used as additives for providing essential nutrients to animals including phosphorus and calcium. Rising nutrition requirements for poultry production along with favorable government standards will foster the feed phosphate industry growth.
Phosphoric acid and phosphate rock are the major raw materials which are used in the manufacturing process of feed phosphate industry. The limited availability of the phosphorus in nature and sustainability issues will be a major challenge and may pose high threat for the feed phosphate industry growth.
Feed phosphate market share is moderately fragmented with major industry players such as Yara International, The Mosaic Company, EuroChem, PotashCorp, Elixir Group, PhosAgro AG, Rotem, Wengfu Australia, OCP Group, Inc., Timab, FOSFITALIA SPA, Reanjoy Laboratories – India, Lifosa AB, Malaysian Phosphate Additives Sdn. Bhd. Manufacturing companies are focusing on decreasing the overall products costs owing to cheaper availability of cheaper substitutes. Companies are highly engaged in forming joint ventures and partnerships to enhance their regional presence and product offerings which further stimulates feed phosphate industry growth.
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Rapid spurge in the middle-class population is propagating the need for high quality meat products in China, India and Australia. The middle-class population is set to surpass over 4.5 billion by 2022 pertaining to improving economic conditions and rising living standards. Meat products are rich sources of protein, vitamins and minerals which are essential for performing certain bodily functions along with enhancing immunity thereby positively influencing feed phosphate market growth.
North America feed phosphate market driven by U.S and Canada is projected to surpass USD 1 Billion by 2024 owing to rising working population which demand for more convenience and processed foods which are mainly meat based such including beef and work. An average of 55.6 pounds of beef was consumed by Americans in 2016 owing to availability of these products at lower costs and high economic conditions. Moreover, the increase in meat-intense diets is further supporting the market growth. Feed phosphate products added in the diets of livestock helps in enhancing the quality of meat along with improving their economic productivity and maintaining the overall health and wellness thereby stimulating feed phosphate market growth.
India feed phosphate market size is likely to register significant growth at over 3.5% over the forecast period. Growing demand for meat and related products owing to rapid population increase and improving economic conditions are likely to enhance the market growth. Additionally, the young population in the country is majorly opting out of vegetarianism and increasing their meat consumption while dining out.
Feed phosphate market in Germany is likely to register significant growth close to 3% during the projected period. Rise in disease outbreaks in livestock animals including bird flu, swine flu and mouth and foot infections has increased quality and safety concerns amongst consumers. Increasing demand for pork, poultry and other meat products is highly fulfilled by proper feeding of animals along with sufficient calcium and phosphorus supply for overall growth. These products contain a good amount of phosphorous required in diets of animals which is further accelerating feed phosphate market growth.
Browse key industry insights spread across 205 pages with 175 market data tables & 38 figures & charts from the report, “Feed Phosphate Market Size By Product (Monocalcium Phosphate, Tricalcium Phosphate, Dicalcium Phosphate, Ammonium Phosphate, Defluorinated Phosphate), By Livestock (Poultry, Cattle, Aquaculture, Swine, Pet), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Australia, Thailand, Malaysia, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
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