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Global Food Phosphate Market Growth By Key Players: XINGFA USA Corp., Sulux Phosphates Ltd., Haifa Chemicals Ltd., Hawkins, Inc., Fosfa a.s., Aditya Birla Chemicals
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The increasing inclination of customers towards packaged food will positively influence food phosphate industry expansion. The USDA reports that the U.S. consumers, government entities, and businesses in 2019 spent nearly US$1.77 trillion on food & beverages in grocery stores and other retailer shops.
North America food phosphate industry growth is expected to gain substantial momentum by 2027. The consumption will majorly be driven by the flourishing baking sector in the region. Reportedly, the contribution of the U.S. baking industry in the overall economy is valued at over US$153 billion. Factors like rising per capita income, shifting preference towards packaged food products and robust economic infrastructure will complement the food phosphate market outlook.
Increasing consumption of bakery products due to its longer shelf life and convenience in carrying will escalate food phosphate demand. Another ammonia-based compound such monoammonium phosphate is used as a major ingredient in agricultural fertilizers and diammonium phosphate is used as plant food to increase the soil pH and fermentation agent in bakery products.
Owing to some certain impacts on health, the U.S. FDA has issued guidelines for its utilization in processed food. Food sodium phosphate is categorized by the food controller as GRAS, which stands for “generally recognized as safe”. However, excessive utilization of the substance could lead to various health issues such as increased mortality rate, kidney, and cardiovascular disorders, and others.
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There is an escalating demand for calcium phosphate for its various health-related benefits. As a nutritional supplement, it plays a vital role in proper cell functioning, bone growth, and energy production. The ingredient is also utilized as a thickening and stabilizing agent which maintains the texture of processed foods, such as mashed potato mixes. On the other hand, affordability and its utilization in curing meat products, as a leavening agent in cakes & bread, and as emulsifying agent in processed cheese will escalate its adoption in the food & beverage industry.
Industry players operating in the food phosphate market are Fosfa a.s., The Mosaic Company, Potash Corp., Innophos, Inc.Brewcraft USA, Sichuan Zhituo Biochem Technology, Budenheim, Univar Inc.,Agrium, Inc.,Prayon, ICL- Performance Products,Haifa Chemicals Ltd.,ChemSol LLCTKI Hrastnik, NutriScience Innovations, LLC, Sulux Phosphates Ltd.
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https://www.globenewswire.com/news-release/2017/06/12/1017610/0/en/Plant-Based-Waters-Market-worth-over-10bn-by-2024-Global-Market-Insights-Inc.html
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