Food grade phosphates are used for various application in the food processing industry as discoloration inhibitors, emulsifiers, and buffers. Food grade phosphates are also used in frozen meat, bakery products, milk, powdered food, cheese, petfood, cereal, dehydrated potatoes, fisheries and animal feed products. Food grade phosphates are broadly classified into blended and specialty phosphates. Food grade phosphates market is consolidated market. For instance, Prayon SA acquired Augusta, Ga., which produces various types of phosphates including sodium phosphates, calcium phosphates and potassium phosphates. Food grade phosphates are used for various applications including retention of water in the fish.
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Food Grade Phosphates Segmentation
Global food grade phosphates are segmented on the basis of type, application and region. Based on the product type food grade phosphates segmentation includes sodium phosphates, potassium phosphates and calcium phosphates. Of which sodium phosphate is expected to be the dominating segment, followed by potassium and calcium phosphates. Among all the segments of food grade phosphates type, sodium phosphates segment is expected to contribute maximum revenue over the forecasted period. However, calcium phosphates segment is expected to witness fastest growth in the next four to five years due to the various benefits associated with the consumption of calcium phosphates. However, potassium phosphates is expected to experience flat growth in the forthcoming years due to the more preference of consumers to consume sodium and calcium phosphates. Based on the application, food grade phosphates are segmented into bakery, food and beverage, dairy products and meat products. Of which meat product segment is the leading segment and expected to contribute highest revenue during the next four to five years, followed by bakery segment. Bakery segment is also expected to contribute significant revenue to the overall revenue of the food grade phosphates market. Global food grade phosphates market is segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
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Food Grade Phosphates: Region-wise Outlook
The global food grade phosphates market is expected to witness robust growth over the forecast period due to the rising needs of the increasing population coupled with the rising disposable income of the consumers. Globally, among all regions, North America is expected to contribute highest market share, followed by Europe over the forecast period. In North America, U.S. is expected to contribute maximum market share due the high disposable income of the consumers. However Asia Pacific is anticipated to witness highest growth owing to the rising disposable income of consumers in various countries.
Food Grade Phosphates: Drivers
Food grade phosphates market is expected to exhibit healthy CAGR during forecast period. Major factors that fuel the growth of food grade phosphates includes growing needs of increasing population coupled with rising consumer awareness regarding the benefits associated with the consumption of food grade phosphates. Major factor that restraints the growth of food grade phosphates market are the high price associated with the food grade phosphates.
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Food Grade Market: Key Players
Major companies operating in food grade phosphates market are Aditya Birla Chemicals, TKI Hrastnik, d.d., GUIZHOU QIANLIN PHOSPHATES INDUSTRY CO.,LTD, ICL Performance Products, Prayon SA, PhosAgro, ChemSol, LLC, CRU Group, Rotel Domestic and Foreign Trade Co. Companies operating in food grade phosphates market are mainly adopting strategy to enter new markets and also to increase its production capacity. For instance, ICL Performance Products, in 2015 set up new production unit in Israel in order to cater to the rising need of the consumers in the region.