Food phosphate Market Size By Product (Sodium Phosphate [Sodium Tripolyphosphate (STPP), Sodium Acid Pyrophosphate], Potassium Phosphate [Dipotassium, Monopotassium, Tetra Potassium], Calcium Phosphate, Phosphoric Acid, Ammonium Phosphate), By Application (Dairy, Bakery Products, Meat & Seafood Processing, Beverages), Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Indonesia, Thailand, Australia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Competitive Market Share & Forecast, 2016 – 2024
Published Date: Apr 2017 | Report ID: GMI1398 | Authors: Kunal Ahuja, Shreya Deb Report Format: PDF
Food Phosphate Market size was over USD 1.4 billion in 2015 and expects gains at over 6%.
Europe Food Phosphate Market Size, By Application, 2015 & 2024 ($ Mn)
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Rise in meat & meat products demand along with growing consumer awareness regarding sodium reductions should favor food phosphates market size. The industry may witness notable gains owing to extensive application scope in dairy, bakery products, meat & seafood processing and beverage industry.
Food grade phosphate is alkaline in nature which helps in maintaining pH balance in fish, poultry, meat, and chicken based products. The U.S poultry meat market was over 15 million tons in 2015 and is projected to reach close to 20 million tons by 2024. Shift in consumer preference towards meat & meat products due to high protein intake for health-conscious consumer diets along with rise in canned food demand owing to high paced life style is likely to boost product demand.
Supporting regulatory guidelines by FDA regarding GRAS approval for usage in food & beverages accompanied with growing meat & meat products manufacturers awareness regarding natural oxidation characteristics which help increasing product shelf life by inhibiting rancidity developments should drive food grade phosphate market size.
Global dairy industry was valued at over USD 330 billion in 2014 and is projected to surpass USD 440 billion by 2024. Food phosphates are prominently used as emulsifier in various dairy products such as fermented dairy products, milk based beverages, puddings, ice creams, processed cheese and cheese cakes. Consumers prefer cheese due to changing dietary habits which should fuel product demand.
Food grade phosphates possess properties which include flavor enhancing, leavening, pH stabilizing, dough conditioning and yeast stimulating. These properties help in maintaining texture & water retention in bakery products such as cakes, dough, pastries, muffins, doughnuts and biscuits. Increasing bakery products consumption owing to availability of various fast food chains and retail outlets is likely to favor product demand.
Phosphate rock and sulfur/sulfuric acid are key raw materials used in production process. Phosphates are obtained from naturally occurring phosphate rock which are further used in animal feed, fertilizers and detergents manufacturing. Fluctuating raw material costs along with feedstock application in different applications can cause supply deficit and affect food phosphates market price trend.
Food Phosphate Market, By Product
Sodium phosphate market size should surpass USD 850 million by 2024. Strong application scope in bakery, meat & seafood processing and dairy industry is likely to drive product market size. It is widely used as food additive in processed cheese, meat, canned soups and commercially sold bakery products for texture emulsifying and leavening properties. Rise in convenience food demand along with growing consumer awareness regarding towards nutrients consumption in dietary supplements is likely to stimulate industry growth.
STPP market size may grow significantly at above 4% gains. It improves water holding capacity of meat products and makes them juicier along with enhancing taste, flavor and moisture.
Phosphoric acid market size may witness gains at over 3.5% by 2024. It is widely used in beverages and artificial fruit juices to enhance & impart tangy and cola flavor in them. Presence of various manufacturers along with favorable regulatory guidelines regarding phosphoric acid consumption may stimulate food phosphate demand.
Calcium phosphate market size may register steady gains and surpass USD 400 million by 2024. It finds application in nutritional, dairy and bakery products. It is widely used acidity regulator and bread enhancer for bakery products along with thickening agent in meat processing. Growing per capita disposable income along with increasing demand for fortified and nutritious food products should favor food phosphate demand.
Food Phosphate Market, By Application
Food phosphate market size from dairy application should witness strong gains at over 3.5%. It is prominently used in cheese processing by helping smooth mixing of fats, moisture, and protein in evaporated milk thereby producing high quality cheese with smooth melt, easy slicing spread ability and viscosity. Increasing high quality cheese demand from fast food industry should stimulate product demand.
Food grade phosphate market size from bakery application may surpass USD 450 million by 2024. Rise in economic standards along with hectic lifestyle has led to increase in bakery products consumption such as burgers, pizza, cakes, pastries and doughnuts mainly in U.S, India and China which should have positive impact on industry growth.
Food phosphate market size from meat & seafood processing may witness gains at over 4%. Increasing manufacturers awareness regarding product benefits in meat processing along with wide application scope in canned meats, roasts, hams, meat balls and fish may favor industry growth. Food phosphate market size from beverage applications may register significant gains. Positive application outlook in fruit juices and colas to enhance flavor and maintain pH balance should stimulate product demand.
Food Phosphate Market, By Region
Asia Pacific, led by Japan, India and China food phosphate market size, should witness highest gains at over 4.5%. Rise in demand for dairy and bakery products owing to rising economic standards along with changing preference towards better diets should drive regional industry growth.
Europe food phosphate market size, driven by Italy, UK, France and Germany, should witness steady growth. Consumer preference towards health and nutritional food products along with availability of various retail outlet is likely to drive industry growth in this region. LATAM, led by Mexico and Brazil may register growth close to 3.5%. Increase in meat production along with expansion in livestock farming should drive regional industry growth. Positive outlook towards bakery and processed food industry is likely to product demand.
Competitive Market Share
Global food phosphate market is moderately consolidated with major industry participants include Haifa Chemicals, Aditya Birla, Sulux, Uniwar and Fosfa A.S. Other players operating in this industry include Saminchem, Nutriscience Innovations, ATP Group, TKI Hrashtnik, Brewcraft and Budeheim.
Most of the prominent players are engaged in collaborations & partnerships and product developments in order to expand business and customer base. Prayon developed Fortispray comprising fat soluble vitamin complex and calcium phosphate salt. It is mainly used in processed cheese and drinks.
Food Phosphate Industry Background
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Food phosphates are additives commonly used as acidity regulator, emulsifier, leavening & sequestering agent in various applications such as bakery, dairy, meat & seafood processing and beverages. It is also used as a nutritive supplement. Since most of the foods are naturally low in sodium content, these products can be used as additives can account for high share.
Change in consumer preference towards healthy food products along with rise in product usage as additive in sports drink may contribute towards food phosphate market size. Convenience food ease of availability due to presence of various retail outlets along with rise in demand for dietary supplements is likely to have positive impact on product demand.
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