The food grade phosphoric acid market is expected to grow at a CAGR of 7.2% over the forecast period (2018 - 2023). The European and North American markets are expected to generate demand since recovering from the economy crisis.
Growing demand for preservative food
Sodium tri-polyphosphate has applications in various end-user industries, such as food & beverages, pharmaceuticals, agriculture and cosmetics. The growing demand for preservative food products, especially in urban areas, is driving the food grade phosphoric acid market. The food grade phosphoric acid is used as a food additive in seafood, meat and poultry products for making them firm and smoother. It is also a preservative in fruits juice, vegetable protein drinks and milk products. Thus, the growing demand for food grade phosphoric acid is anticipated to drive the market demand in the end-user industries, such as pharmaceuticals, food & beverages and agriculture. Food-grade phosphoric acid is a common food additive that leads to decreased bone mineral density. The adverse effect of food grade phosphoric acid acts as a restraint to the market.
Increasing applications in bakery products
By type, the market is segmented into food-grade phosphoric acid-75% and food-grade phosphoric acid-85%. The food grade phosphoric acid is used to acidify food products like colas and has a tangy taste. It can also be used to make phosphates used in food products, such as cheese, bakery products, yeast, jams, jellies, vegetable oils and refined sugar. The food-grade phosphoric acid salts are combined with baking soda to produce baking powder, a leavening agent found in many baked goods. Breakfast or cereal bars, bottled coffee beverages, flavored waters, and processed meats are other processed foods that may contain food-grade phosphoric acid. Fresh meat and poultry products are enhanced with salt solutions to increase their moisture and flavor. These solutions also contain food-grade phosphoric acid or phosphate salts.
Asia-Pacific dominates the current demand for food-grade phosphoric acid, among all regions, with manufacturing hubs, such as India and China, consistently extending the requirements. The Asia-Pacific food grade phosphoric acid market is expected to grow owing to the growing application industry. China accounts for the largest share in the Asia-Pacific market, of more than 40%, owing to the rising demand from end-user industries like food & beverages.
Major Players: MOSAIC, OCP, GUANGXI QINZHOU CAPITAL SUCCESS CHEMICAL CO. LTD., GUIZHOU U-SHARE MATERIALS CO., LTD., AGREMA.
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• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
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Customization of the Report
• Value chain analysis
• Consumer behavior analysis in country level
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
4. Market Dynamics
4.1.1 Evolving Role as a Food Additive
4.1.2 High Demand in Oil Refining
4.2.1 Detrimental Effects on Bone Health
4.3.1 Growing Demand in Fermentation Technology
4.3.2 Process Optimization with the use of Phosphoric Acid
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Food Grade Type
5.2 By Application
5.2.1 Food Additive
5.2.3 Beverage industry
5.3 By Geography
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
5.3.4 South America
220.127.116.11 South Africa
6. Competitive Landscape
6.1 Strategy adopted by Key players
6.2 Most active companies in the past five years
6.3 Market Share Analysis
7. Company Profiles
7.1 The Mosaic Company
7.2 Guangxi Qinzhou Capital Success Chemical Co.Ltd.
7.3 Guizhou U-Share Materials Co., Ltd.
7.5 Agrema Poland Sp. z o.o.
7.6 Modern Leen For Marketing & Trading
7.7 The Potash Corporation
7.8 ICL Food Specialties
7.9 Israel Chemicals Ltd.
7.10 Wengfu Group Co. Ltd.