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Food Grade Sodium Trimetaphosphate Market expected to grow at a CAGR of over 5% through 2030 - States Fact.MR
Food Grade Sodium Trimetaphosphate Market
Increasing manufacturing of modified starch in the region is set to bolster demand for sodium trimetaphosphate, reveals Fact.MR, in a recently published report on the global sodium trimetaphosphate market.
Key consumers of sodium trimetaphosphate have positioned themselves in China, and have been expanding their production facilities over 2015-2019.
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For instance, key modified starch manufacturer Ingredion has positioned itself in China to gain benefits from economies of density, coupled with lower cost of production.
Also, demand for food grade sodium trimetaphosphate will outweigh that of technical and industrial grade by more than 8:2 over the coming years.
As per the report, the global sodium trimetaphosphate market is anticipated to progress at a steady 5% CAGR through 2030.
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Key Takeaways from Sodium Trimetaphosphate Market Study
The global sodium trimetaphosphate market is anticipated to add 1.7X value by 2030 as compared to 2020.
Food grade captures a major chunk of the market, equivalent to four-fifth of the global sodium trimetaphosphate market share.
Starch modification is the fastest-growing segment in the sodium trimetaphosphate market, owing to rapid growth of starch modification production facilities across the globe, especially in East Asia.
North America is set to dominate market revenue in 2020, but is expected to lose 370 BPS in its market share by 2030 over 2020.
Water treatment application is anticipated to lose around 60 BPS during the forecast period of 2020-2030.
East Asia is set to hold a leading share by the end of FY2030, and will be the fastest-growing regional market through 2030.
After initial setbacks as a result of the COVID-19 outbreak, the sodium trimetaphosphate is set to recover by the second half of 2021.
“High tariffs and strict regulations to weaken demand in North America,” says a Fact.MR analyst.
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Consolidated Market to Strengthen Price Points
The sodium trimetaphosphate market is highly consolidated in nature, with only a few manufacturers such as Xingfa, ICL, and Innophos contributing 80% of the market share.
These manufacturers produce sodium trimetaphophate at lower marginal cost, and have high price setting power as compared to manufacturers with lower production scales.
With new entrants coming into the modified starch market, Xingfa is expected to collaborate with modified starch manufacturers to ensure long-term financial stabilization.
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More Valuable Insights on Sodium Trimetaphosphate Market
Fact.MR, in its new offering, presents an unbiased analysis of the global sodium trimetaphosphate market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030.
The study divulges essential insights on the sodium trimetaphosphate market on the basis of grade (food, technical, and industrial) and application (food processing, water treatment, pharmaceuticals, starch modification, and others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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