Home > Pressrelease > Western Europe Food Phosphate Market size worth over USD 65.5 million by 2027

Western Europe Food Phosphate Market size worth over USD 65.5 million by 2027

  • Published Date: February 15, 2022

According to a new research report by Global Market Insights Inc., the Western Europe Food Phosphate Market size is set to surpass USD 65.5 million by 2027 owing to the rising consumption and production of RTE meat and packaged meat products.

Rapid growth in seafood consumption coupled with surging use of frozen poultry and meat products from foodservice industry should support food phosphate market growth. Moreover, surging demand for convenience food and rising disposable incomes are boosting the processed meat market growth in Western Europe.

Increasing focus towards prolonging the shelf-life of processed poultry & meat products will foster the need for potassium phosphate

The potassium phosphate product accounts for a significant share in the market and is anticipated to reach over USD 23.25 million by 2027. The usage of potassium phosphate has increased as it helps to thicken, stabilize, and maintain pH and moisture in various processed products including meat & poultry, seafood, and sausages. It also effectively preserves & extends the shelf life of processed poultry, seafood, and meat products.

It is a common additive found in frozen meat, canned fish, other processed meats products including sausages, ham, and deli meat. Growing demand for better yield, high shelf life, and profitable meat products is expected to propel the potassium phosphate demand over the anticipated timeframe.

The monopotassium phosphate segment is expected to reach over USD 12.20 million by 2027. Monopotassium phosphate is a sodium salt of phosphoric acid used as an emulsifying agent and a buffering agent in processed poultry and meat products. Rising consumer spending on processed poultry and meat products in Western Europe is predicted to offer growth opportunities for monopotassium phosphate market.

Increasing seafood consumption as an alternative to red meat is anticipated to escalate product demand from seafood products

The seafood application should grow with CAGR of 6% during the forecast period and reach a value of USD 13.40 million by the end of 2027. In the seafood product applications, food phosphates are increasingly used as additives to perform various functions. For instance, they are used for inhibition of flavor & lipid oxidation, retention of natural moisture, and aiding in the emulsification & removal of shellfish shells.

Significant shift of consumers towards seafood products as an alternative to red meat due to rising prevalence of chronic diseases such as obesity, heart disease, and stroke have escalated the production of seafood products. This trend further bolsters food phosphate demand from seafood products. Also, rising number of seafood restaurants coupled with increasing per capita household spending on fish products will stimulate product demand thus fostering industry growth.

The frozen fish application is expected to reach over USD 7.15 million by 2027. Food phosphates function as cryoprotectants for frozen seafoods and helps to delay drip loss during retail storage and distribution of refrigerated seafood. Rising frozen fish demand due to its better shelf life will have a positive impact on industry growth. Increasing acceptance and availability of frozen fish is raising food phosphate product demand.

Browse key industry insights spread across 235 pages, 158 market data tables and 38 figures & charts from the report “Food Phosphate Market By Product (Sodium Phosphate {Monosodium Phosphate, Disodium Phosphate, Trisodium Phosphate, Disodium Diphosphate, Trisodium Diphosphate, Tetrasodium Diphosphate, Pentasodium Triphosphate, Sodium Polyphosphate, Sodium Calcium Polyphosphate}, Potassium Phosphate {Dipotassium Phosphate, Monopotassium Phosphate, Tetra Potassium Pyrophosphate}, Calcium Phosphate, Phosphoric Acid, Ammonium Phosphate, Blended Phosphates), By Application (Meat And Poultry Products {Chilled Meat, Fresh And Cooked Hams, Chicken And Other Poultry [RTE Chicken], Sausages [Emulsified Cooked Sausage]} Seafood Products {Frozen Fish, Shellfish, Shrimps}) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market 2021- 2027in detail along with the table of contents:

Growing demand for convenience poultry & meat products in Germany should propel food phosphate demand

Germany food phosphate market is likely to reach a value of over USD 11.85 million by the year 2027. Consumers in Germany are spending more on convenience poultry & meat products including frozen meat, fresh & cooked hams, RTE chicken, and sausages. Growing consumption of convenience meat products is mainly attributed to busy lifestyle and increasing working women population in the country.

Also, the growing demand for processed meat, seafood, and poultry products from restaurants, hotels, and cafés is escalating the product usage, in turn, drives food phosphate demand. Increasing usage of food phosphate in seafood products including frozen fish, shellfish, and shrimp as a pH regulator and to minimize crystal formation is driving product demand in Germany. Shifting consumer preferences towards the consumption of seafood products is likely to boost the seafood processing sector in Germany, in turn, is anticipated to stimulate the Western Europe food phosphate market growth.

Players in Western Europe food phosphate industry are implementing multiple strategies including distribution network expansion, product development, and production capacity expansion to sustain their position in the market. The major players include Fosfa A.S, Arkema Group, Prayon, Univar, Inc., Merck KGaA, and ICL Specialty Products Inc., which play a significant role in the market.

Authors: Kunal Ahuja, Sarita Bayas