SELBYVILLE, Del., Jan. 27, 2021 /PRNewswire/ -- The food phosphate market revenue is expected to cross USD 3.95 billion by 2027, according to a new research report by Global Market Insights, Inc. Growing awareness about the functional benefits of phosphate such as building cell membrane, DNA, bones, teeth and increasing health care cost is anticipated to propel the market demand.
Food phosphate industry from potassium phosphate segment is anticipated to grow with CAGR of over 5% through 2027 owing to increasing usage in the food industry as it acts as thickening, stabilizing agent and regulates the acidity and moisture in foods. Additionally, it is often used in large amounts in baked goods, soft drinks, processed meats, canned fish, sausages and hams, dried vegetables and chewing gum. Moreover, potassium phosphate is mainly utilized in processed foods like condensed milk, puddings, chocolate products, chewing gums and breakfast cereals. Thus, the growing demand for processed food is creating lucrative growth opportunities for the market.
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Some major findings of the food phosphate market report include:
- Increasing incorporation of phosphate in functional and fortified food is one of the defining reasons which supports market growth.
- Food phosphate industry from beverage type is likely to gain traction of over 5% through 2027, owing to increasing demand for functional and sports beverages.
- Growing demand for canned and processed food owing to its nutritional value and longer shelf -life is propelling the market outlook.
- Some of the key players operating in the market are FBC Industries Inc., Sulux Phosphates Ltd., Fosfa a.s., Brewcraft USA, Sichuan Zhituo Biochem Technology, Haifa Chemicals Ltd., Budenheim, Univar Inc., The Mosaic Company, Agrium, Inc, ChemSol LLC, XINGFA USA Corp., Hawkins, Inc., Potash Corp., Innophos, Inc., TKI Hrastnik, NutriScience Innovations, LLC., Prayon, ICL- Performance Products, Saminchem Co. Ltd., Aditya Birla Chemicals,Natural Enrichment Industries LLC, and ATP Group.
Browse key industry insights spread across 300 pages with 292 market data tables and 57 figures & charts from the report, "Food Phosphate Market Forecasts by Application (Dairy, Bakery Products, Meat & Seafood Processing, Beverages), Product (Sodium Phosphate [Sodium Tripolyphosphate (STPP), Sodium Acid Pyrophosphate], Potassium Phosphate [Dipotassium, Monopotassium, Tetra Potassium], Calcium Phosphate, Phosphoric Acid, Ammonium Phosphate), Regional Outlook, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
European food phosphate market is anticipated to witness more than 5.5% CAGR between 2021 and 2027 owing to rising demand for nutritious food coupled with the presence of retail channel which is likely to drive the regional demand. The rising working population and changing lifestyle pattern, has led to high demand for processed food products. Moreover, it has also proven that consumption of 250 mg as per kg body weight phosphorous as phosphate per day with customary diet may lead to healthy diet. This has shown positive growth impact on the market.
Furthermore, the increasing demand for meat products will ultimately be fulfilled by feeding proper and essential nutrients to livestock. Food phosphates added to the commercial feed of livestock helps in enhancing metabolism and overall health thereby boosting the food phosphate market in the region.
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Browse Related Report:
Feed Phosphate Market Analysis by Product (Monocalcium Phosphate, Tricalcium Phosphate, Dicalcium Phosphate, Ammonium Phosphate, Defluorinated Phosphate), Livestock (Poultry, Cattle, Aquaculture, Swine, Pet), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 - 2024
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Food Phosphate Industry Forecasts 2027
SOURCE Global Market Insights, Inc.