Feed Phosphate Market size is predicted to exceed USD 5 billion by 2032, according to a new research report by Global Market Insights Inc.
As the percentage of farmers' revenue from animal husbandry, dairy farming, fisheries, and labor has grown more than the share of income from crop cultivation, especially in the Asia Pacific region, there has been a greater emphasis on harnessing the potential of related businesses. This is improving poultry and meat production and consequently increasing the use of feed phosphate across countries, such as India, China, Japan, and other countries where agriculture is the main occupation.
Furthermore, the escalating demand for shrimp, prawns, and tuna fish in Thailand, along with favorable government initiatives to assist the growth of the aquaculture sector. For instance, in December 2022, the Department of Fisheries, Government of India, took steps to strengthen and diversify inland fisheries & aquaculture and bridge gaps in the supply & demand of quality brood and seeds of cultivable species as well as species-specific feeds.
High incorporation of inorganic minerals in feeds to foster monocalcium phosphate segment growth
Based on product, the feed phosphate market from monocalcium phosphate segment is set to witness over 3.5% CAGR through 2032. Widespread adoption of monocalcium phosphate in animal feed products to enhance the palatability of livestock is projected to propel segment growth. Furthermore, the growing preference for inorganic minerals in poultry feeds, such as monocalcium phosphate or chalk, together with changing eating habits and lifestyles.
Upsurge in exports of poultry products to favor segment value
The feed phosphate market from poultry segment is estimated to surpass USD 2.5 billion by 2032, driven by the increasing use of monocalcium phosphate and dicalcium phosphate in the thriving poultry industry in Europe, which is a leading poultry meat producer and a net exporter of poultry items with an annual output of around 13.4 million tons. In September 2022, the South Korean government legally recognized the animal disease control measures in place in the European Union (EU), opening prospects for an upsurge in the exports of poultry meat and pork from Europe to the East Asian nation.
Browse key industry insights spread across 200 pages with 175 market data tables and 38 figures & charts from the report, “Feed Phosphate Market Size By Product (Monocalcium Phosphate, Tricalcium Phosphate, Dicalcium Phosphate, Ammonium Phosphate, Defluorinated Phosphate), By Livestock (Poultry, Cattle, Aquaculture, Swine, Pet), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Increasing product adoption to improve milk production to complement the North America industry expansion
The North America feed phosphate market is poised to be worth USD 1 billion by 2032, led by the increasing usage of dicalcium phosphate in cattle feed due to its capacity to enhance immunity and milk output. Moreover, high nutritional requirements for chicken production, together with favorable regulatory standards and supportive policies for meat production established by the local government are likely to influence regional industry growth. In February 2022, the U.S. Department of Agriculture (USDA) announced a USD 215 million grant and other assistance to boost meat and poultry processing options and fortify the food supply chain.
Mounting significance of animal nutrition to define the industry outlook
Key participants operating in the feed phosphate market are The Mosaic Company, TIMAB (Phosphea), OCP Group, Reanjoy Laboratories, and Elixir Group. To increase their market share, these organizations are adopting strategic efforts, including collaborations, acquisitions, and service portfolio expansions.
In September 2022, leading phosphate-based products manufacturer OCP Group signed an agreement to initially acquire 50% of GlobalFeed S.L. from Fertinagro Biotech S.L., a prominent Spanish fertilizer company, to broaden its regional reach and provide a diversified, tailored, and innovative product range in the animal nutrition market.
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