What is Global Phosphate for Food Market?
The Global Phosphate for Food Market is a vast and dynamic sector that plays a crucial role in the food industry worldwide. This market revolves around the production, distribution, and consumption of phosphate, a chemical compound used extensively in food processing. Phosphate is used in food for various purposes such as enhancing flavor, retaining moisture, and improving texture. The global market for food-grade phosphate is continually growing, driven by the increasing demand for processed and convenience foods. The market was valued at US$ 2309.5 million in 2023 and is projected to reach US$ 2620.6 million by 2030, growing at a CAGR of 1.8% during the forecast period 2024-2030.
STPP, SHMP, SAPP, TSPP, Others in the Global Phosphate for Food Market:
The Global Phosphate for Food Market is segmented into various types, including STPP, SHMP, SAPP, TSPP, and others. Sodium Tripolyphosphate (STPP) is a widely used food additive that acts as a preservative and enhances the color of processed foods. Sodium Hexametaphosphate (SHMP) is used as a sequestrant and has strong emulsifying properties. Sodium Acid Pyrophosphate (SAPP) is used as a leavening agent in bakery products. Tetrasodium Pyrophosphate (TSPP) is used in various food applications including meat processing and cheese production. Other types of food-grade phosphates include monocalcium phosphate, dicalcium phosphate, and tricalcium phosphate. These phosphates are used in a wide range of food applications, contributing to the overall growth of the global phosphate for food market.
Meat, Seafood, Beverage, Other in the Global Phosphate for Food Market:
The Global Phosphate for Food Market finds its application in various sectors such as meat, seafood, beverages, and others. In the meat industry, phosphates are used to enhance the water holding capacity of meat, thereby improving its tenderness and juiciness. In the seafood industry, phosphates are used to prevent the deterioration of seafood products and extend their shelf life. In the beverage industry, phosphates are used as acidulants to control the pH level of beverages. They also act as buffers to maintain the stability of beverages. Other applications of food-grade phosphates include dairy products, bakery products, and confectionery. The wide range of applications of phosphates in the food industry is a key factor driving the growth of the global phosphate for food market.
Global Phosphate for Food Market Outlook:
The global Phosphate for Food market has seen significant growth in recent years, with a market value of US$ 2309.5 million in 2023. This growth is expected to continue, with projections estimating a market value of US$ 2620.6 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 1.8% during the forecast period from 2024 to 2030. The market is dominated by major manufacturers such as ICL Phosphate Specialty, Innophos, Prayon, Budenheim, Xingfa Chemicals Group, Blue Sword Chemical, Fosfa, Chengxing Industrial Group, Orbia (Quimir), Wengfu Gene-Phos Chem, Chuandong Chemical, Hens, Thermphos, Aditya Birla Chemicals, Mianyang Aostar, Rin Kagaku Kogyo, Tianjia Chem, Nippon Chemical, Tianrun Chemical, Huaxing Chemical, and Hindustan Phosphates. These top ten manufacturers account for about 62% of the total revenue in 2019.
| Report Metric | Details |
| Report Name | Phosphate for Food Market |
| Accounted market size in 2023 | US$ 2309.5 million |
| Forecasted market size in 2030 | US$ 2620.6 million |
| CAGR | 1.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ICL Phosphate Specialty, Innophos, Prayon, Budenheim, Xingfa Chemicals Group, Blue Sword Chemical, Fosfa, Chengxing Industrial Group, Orbia (Quimir), Wengfu Gene-Phos Chem, Chuandong Chemical, Hens, Thermphos, Aditya Birla Chemicals, Mianyang Aostar, Rin Kagaku Kogyo, Tianjia Chem, Nippon Chemical, Tianrun Chemical, Huaxing Chemical, Hindustan Phosphates |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
