APAC Feed Phosphate Market Growth Statistics by 2024 | Major Vendors Malaysian Phosphate, Yara, WengFu and Elixir Group
Increasing demand for meat products in China, Thailand, Malaysia and Philippines owing to growing middle-class population coupled with disposable income and preference for pork and pork products may boost Asia Pacific feed phosphate market growth. Feed phosphate is vital for enhancing the quality of feed along with optimizing its nutritional value when mixed with the commercial feed.
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It helps in maintaining the osmotic pressure, acid-base balance, and buffer capacity. Changing lifestyle patterns and rapid urbanization are the major factors leading to increase in production and consumption of meat and meat products which may further stimulate Asia Pacific feed phosphate market growth.
Japan tricalcium phosphate market size was valued at over USD 12.5 million in 2017. Shift in consumer trend from carbohydrates derived from plant origin including wheat, pulses, beans and rice towards animal protein sources will positively affect market demand.
The product supports intermediary metabolism along with providing essential nutrients and weight management which is important for healthy growth of animal.
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The bone development in broilers is highly dependent on dietary concentrations of phosphorus and calcium along with proper intake of Vitamin D3, thus stimulating regional industry growth.
Thailand feed phosphate market demand from aquaculture may experience gains of over 4% by 2024 pertaining to the growing demand of shrimp, prawns and tuna.
Feed Phosphate Market statistics, By Product
• Monocalcium Phosphate
• Dicalcium Phosphate
• Tricalcium Phosphate
• Ammonium phosphate
• Defluorinated Phosphates
Initiatives taken by Thai government to encourage fisheries production owing to its favorable geographic factors which include vast network of rivers and canals may promote the aquaculture market growth opportunities.
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These products are specially formulated feed ingredient and strengthen the skeleton along with accelerating the overall growth in fishes, thereby stimulating product demand.
Asia Pacific feed phosphate market share is moderately fragmented with key players including Malaysian Phosphate, Yara, WengFu and Elixir Group. Manufacturers are focusing on improving production capacity by adopting new methods to meet the increasing demand.
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