Feed Phosphate Market to Reach $3.3 Billion, Globally, by 2031 at 4% CAGR: Allied Market Research

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Nov 07, 2022, 06:11 ET

Surge in demand for premium meat products along with an increase in meat processing activities are majorly driving the growth of the global feed phosphate market

PORTLAND, Ore., Nov. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Feed Phosphate Market by Type (Dicalcium, Monocalcium, Monodicalcium, Defluorinated, and Tricalcium), by Livestock (Ruminants, Swine, Poultry, and Acquaculture), and by Form (Powder and Granule): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global feed phosphate industry generated $2.2 billion in 2021, and is estimated to reach $3.3 billion by 2031, witnessing a CAGR of 4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

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Drivers and Opportunities

Surge in demand for premium meat products along with an increase in meat processing activities are majorly driving the growth of the global feed phosphate market. However, the raw material shortage, high product costs, and a huge demand for low-cost substitute products such as phytase is predicted to hinder the global market growth. On the other hand, a large number of firms in the feed phosphate industry produce feed phosphate from phosphate rock, a limited resource, using a method similar for all of their other products. Thus, phosphorous recovery from fly ash provides huge growth opportunities for the global market.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic negatively impacted the growth of the global feed phosphate market. This is because the demand for feed phosphate declined due to the lack of raw material supply as a result of lockdown causing disruption in supply chain.
Furthermore, trade restrictions and restrictions on public movement imposed by various countries across the globe to curb the spread of pandemic severely impacted the logistics and transportation activities. This, in turn, severely affected the growth of the global market.

The dicalcium segment to dominate the global market in terms of revenue during the forecast period

Based on type, the dicalcium segment was the largest in 2021, occupying nearly two-fifths of the overall feed phosphate market share and is likely to dominate the global market share during the forecast period. The growth of the segment over forecast period can be attributed to the large-scale use of feed phosphate in the animal feed industry due to the high content of dicalcium phosphates in feed phosphate. However, the monocalcium segment is expected to grow at the fastest CAGR of 4.9% in 2031, owing to the massive demand for poultry and meat where monocalcium is increasingly used for poultry and cattle raising.

The poultry segment to achieve the fastest growth during the forecast period

Based on livestock, the poultry segment held the largest share of nearly two-fifths of the global feed phosphate market in 2021, and is expected to maintain a prominent growth during the forecast period. Moreover, the same segment is likely to exhibit the highest CAGR of 4.8% in 2031. The growth of the segment over the forecasted timeframe can be attributed to the massive use of feed phosphate in animal feed for increasing its nutritive value along with increasing poultry production. The report also includes other segments such as ruminants, swine, and tricalcium.

The powder segment to maintain its lion's share in the global market during the forecast period

Based on form, the powder segment held the largest share of nearly three-fourths of the global feed phosphate market share in 2021, and is expected to maintain a noteworthy growth during the forecast period. The growth of the segment over the forecast period can be attributed to the ability of powder form to uniformly mix with animal feedstock. However, the granule segment, is likely to exhibit the highest CAGR of 4.5% in 2031. The segmental growth is attributed to its beneficial features such as less dust, easy handling and providing a more uniform product.

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Asia-Pacific to maintain its leadership in terms of revenue by 2031

Based on region, the market in the Asia-Pacific region held the largest market share in 2021, accounting for nearly one-third of the global feed phosphate market share, and is likely to lead the trail throughout the forecast period. The growth of the segment during the forecast period can be attributed to the intensive cattle and poultry farming practice in the Asia-Pacific along with the rise in the number of local feed manufacturers in the region. However, the European feed phosphate market is anticipated to register the fastest CAGR of 5.2% during the forecast period, 2022-2031. This is due to the rise in meat consumption in Europe and the demand for meat products along with increase in awareness about the quality of dairy & meat products. Apart from this, the high demand for protein-rich diet such as pork and poultry from consumers has increased the penetration of feed phosphate in animal feed industry in Europe, thereby boosting the market trends in the region. The other regions discussed in the report are North America and LAMEA.

Leading Market Players

The Mosiac Company
PhosAgro PJSC
EuroChem Group AG
Nutrien Ltd
AB Lifosa
Reanjoy Laboratories
Yara International ASA
Fosfitalia Group
The OCP Group

The report analyzes these key players of the global feed phosphate market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://bit.ly/3DFP2sh

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