August 25, 2020
According to the research report titled ‘Europe & MEA Food Phosphate Market Size By Product, By, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2026’, available with Market Study Report LLC, Europe & MEA food phosphate market is expected to register significant growth during 2020-2026.
Rising cognizance regarding nutrition-based diet is a major factor driving the growth of food phosphate market in Europe and Middle East & Africa. For the record, phosphorus is the second most common element in the human body and is required to carry out daily functions such as filtering waste and repairing cells and tissues. Alcoholism can lead to high or low levels of phosphate, which can further cause heart diseases, joint pain and fatigue, thereby fostering the demand for the product across the two regions.
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Based on product landscape, the report cites that trisodium phosphate segment is predicted to witness high CAGR through 2026, primarily due to rising adoption of the product while manufacturing seafood products. Meanwhile, the tetrasodium diphosphate segment is estimated to exceed USD 5 million by the year 2026. Growing demand for the product from food & beverage sector is fueling the segmental share.
According to the report, calcium phosphate segment is likely to experience commendable growth during the forecast period. Growing demand for high-quality ingredients and consumer inclination towards fortified food & beverage products are facilitating the business scenario. Also, the phosphoric acid segment is anticipated to showcase remunerative growth owing to rising adoption of high performance ingredients.
Moving on to the application spectrum, meat & poultry products segment, which comprises of sausages, chicken, fresh & cooked hams and chilled meat and others, is expected to generate appreciable returns in the forthcoming years. Increasing awareness and growing demand for high quality animal products are boosting the segmental share.
Further elaborating on meat & poultry products applications, Europe & MEA food phosphate market from sausages segment is poised to showcase a 6% CAGR through 2026, primarily due to high demand for packaged sausages in Germany and UK.
The report cites that others application segment is also slated to experience high CAGR during the study duration. Increasing utilization of food phosphates while preparing Swiss Cheese and American Cheddar as well as in European wines are positively influencing the industry remuneration.
Aarti Phosphates, Nutrien Ltd., Global Specialty Ingredients (M) Sdn. Bhd., Advance Inorganics, ICL Specialty Products Inc., TKI Hrastnik d.d., Euroduna Food Ingredients GmbH, Fosfa A.S., Prayon S.A., Univar Solutions Inc., Aditya Birla Chemicals India, Anhui Suntran Chemical Co. Ltd., Merck KGaA, and Arkema S.A. are the key participants in Europe & MEA food phosphate industry.