The Global Food-Grade Phosphate Market is predicted to flourish at a stunning rate, with a market value of USD 2,500 Mn in 2021 and a healthy growth rate of 9.2 % to reach a total market valuation of USD 6027.9 Mn by 2032. The widespread use of food-based phosphate in baking activities such as yeast stimulation, dough conditioning, and its ability to make dough soft and fluffy has made it a highly sought-after component that will help this industry flourish. Apart from that, food phosphorus has several additional features such as retaining water, improving texture, and stabilizing pH, making it one of the greatest choices for use as an ingredient in higher-quality baked goods and expanding global consumption. Due to changes in consumer preferences in terms of snacking, the baked food sector has undergone various adjustments in recent years. The growing consumption of baked food products like pizza, cake, doughnuts, and biscuits in the global market is leading to the growth of the food-grade phosphate market.
Key Takeaways:
- The dairy industry is expected to develop at a healthy rate of 6% each year until 2027. Phosphate is used in a variety of dairy products due to its acidity regulation, ion exchange buffering, thickening, and protein distributing properties.
- Because of increased demand and consumption for products such as energy drinks, sports drinks, nutritional or functional beverages, the worldwide beverage market that uses phosphate as an ingredient is expected to reach USD 545 million by 2027.
- Because it works as an acidity regulator and is used as a leavening ingredient in baking, the global food-based Phosphate market, in terms of application as calcium phosphate, is predicted to develop at a healthy CAGR of 6% over the analysis period.
- The United States has a 65 percent market share and is predicted to have a market size of around USD 617.5 million in 2021.
- The Asia-Pacific region has a 20 percent market share in the global market for food phosphate, with China having a leading 32 percent market share and a total market value of USD 160 million.
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“Phosphate is used in fortified beverages to enhance the nutritional value. Phosphate-treated meat products are known to hold more water due to their water retention property, which improves the texture, taste, and juiciness of the meat. As a result, phosphate is used to improve the quality of various meat-based items such as sausages, pork fillets, hotdogs, and chicken breasts. Due to vast array of applications and demand the food-based Phosphate market is estimated to have a steep growth curve” says a lead analyst at Future Market Insights.
Competitive landscape:
The Food-grade Phosphate market will have robust growth since companies are focusing on innovation and research& development of new products that can incorporate phosphate to enhance taste, flavor, and nutrient value. Companies are exploring the fortified beverage segment that has huge popularity and demand among the consumers due to rising health awareness and demand for food products that contains high nutrient level. Phosphate is also used by companies to treat meat-based products to maintain the moisture and juiciness of the meat.
- Food-based phosphate is used in seafood including canned tuna, shrimp, crabs, and fish by companies like Prayon S.A, which is part of the Carfosel umbrella brand. It helps to preserve moisture and make the product juicy and flavorful.
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Future Market Insights, in its new report, offers an unbiased analysis of the global Food-Grade Phosphate market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Segmentation for Food Grade Phosphate Market
Source Type:
- Sodium Phosphate
- Ammonium Phosphate
- Calcium Phosphate
- Potassium Phosphate
- Others
Application:
- Bakery Products
- Dairy
- Beverages
- Meat & Seafood Processing
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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