Food Phosphate Market size to exceed $3.95bn by 2027
Published Date: January 20, 2021 Authors: Kunal Ahuja, Kritika Mamtani
Food phosphate market size is set to surpass USD 3.95 billion by 2027, according to a new research report by Global Market Insights, Inc.
Rapidly rising globalization and change in food habits of consumer pertaining to meat and processed food consumption should contribute to food phosphate industry outlook. Consumers are inclined towards ready-to-eat processed meat products consumption owing to change in their lifestyle. Additionally, increasing protein intake among health-conscious consumer in order to consume more meat-based products in their diets are fueling the market demand. Phosphates are used in meat and meat products due to increased water holding capacity in order to lead to higher yield, raising pH of meat proteins. Phosphates are mainly alkaline in nature and when added to meat it increases pH value. Phosphates protect against lipids oxidation by binding metal ions that accelerate oxidation. They preserve and protect poultry’s natural color and flavor.
Exemplary Spread Ability and Viscosity function Of Phosphate Should Propelling the Market Demand from Dairy Application
Food phosphate market from dairy segment is projected to register over 5% CAGR from 2021 and 2027, owing to growing consumption of dairy & dairy products. The dairy market is experiencing gains owing to its broad applications across various dairy products including cheese, butter, whey, milk powder, frozen desserts, and ice cream. Moreover, Calcium is found in milk as calcium hydrogen phosphate. Increasing calcium phosphate solubility at low pH is important in dairy products are also supporting the market statistics form dairy application.
Dairy applications utilize phosphates for protein dispersions, to buffer for ion exchange, acidification, gelation promotion, nutrient supplementation, and sequestration. It also offers hardness to butter and excellent spreading ability, as well as the desired viscosity. In dairy applications, it is also utilized in ice-cream and fat stabilization. In instant pudding, phosphate is used as gelatins. Shift in consumer preference towards dairy & dairy products thereby leading to healthy lifestyle should favor food phosphate market demand.
Browse key industry insights spread across 300 pages with 292 market data tables and 57 figures & charts from the report, “Food Phosphate Market Statistics By Product (Sodium Phosphate [Sodium Tripolyphosphate (STPP), Sodium Acid Pyrophosphate], Potassium Phosphate [Dipotassium, Monopotassium, Tetra Potassium], Calcium Phosphate, Phosphoric Acid, Ammonium Phosphate), Application (Dairy, Bakery Products, Meat & Seafood Processing, Beverages), Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Escalating Usage of Phosphate in Manufacturing Soft and Carbonated Beverages is Likely to Spur the Demand for Phosphoric Acid Product
Food phosphate market from phosphoric acid is anticipated to witness more than 6.5% CAGR between 2021 and 2027. Phosphoric acid is used in food processing as an additive in refining sugar, fats and edible oil, thereby it is highly preferable among manufacturers and should propel the market landscape.
“Food phosphate market from phosphoric acid is projected to exceed USD 1.1 billion by 2027, owing to immense demand of soft drinks among millennials.”
Asia Pacific Market is Gaining Traction Owing to Rise in Meat and Meat Product Consumption
Asia Pacific market is anticipated to exceed USD 2 billion by 2027 owing to upsurge in demand for meat and meat products as it contains numerous nutrients and vitamins. Changing lifestyle patterns, rapid urbanization and speedy growth in middle class population are the major factors leading to increase in production and consumption of meat and meat products in Asia Pacific.
India and China are the potential markets for the consumption of meat products. Rapid urbanization in these countries has led to an increase in the consumption of meat and meat related products which is no more considered as luxury foods and should propel food phosphate market demand in the region. Rapid population increase in Asia Pacific will lead to higher demand for food and meat products. According to estimates, approximately 59 percent of global population is expected to be living in Asia Pacific region in 2020 out of which 54 percentage of the population will be middle class. Younger population in India is mostly opting out of vegetarianism and experimenting with meat products while dining out.
“Asia Pacific food phosphate market is likely to grow with CAGR of over 6.5 % through 2027 owing to growing demand for protein-rich food along with rising awareness regarding proper human nutrition.”
Industry players operating in the market are also engaged in innovation, research and development activities as phosphate is widely use in functional and fortified food & beverage owing to change in consumer eating habits and hectic lifestyle. 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., FBC Industries Inc., Saminchem Co. Ltd., Aditya Birla Chemicals, Natural Enrichment Industries LLC, , XINGFA USA Corp., Hawkins, Inc., and ATP Group.
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