October 10, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Food Phosphate Market Research Report 2019-2025’, the worldwide food phosphate market is anticipated to surpass US $2800 million by the year 2025.
Food phosphates are versatile food additives which can be used as sequestrants, gel accelerants, buffers, nutrients, precipitants, acidulants, bases, dispersants, cryoprotectants, or anticaking agents. They are widely used chemical livening of bakery products, providing distinctive flavor and mineral content to beverages, and binding & hydration of meat among others. Growing preference of convenience food items coupled with increasing awareness regarding benefits of phosphates among food manufacturers are propelling the growth of food phosphate market.
According to the report, food phosphate market was worth US $2330 million in 2019 and is projected to increase at a 2.3% CAGR through 2025. Furthermore, the research provides a comprehensive insight about segmental growth, trends, drivers, challenges, and opportunities impacting the market growth.
The global food phosphate market is examined on the basis of product type, application spectrum and regional landscape. Based on the product type, the market is segmented as TSPP, STPP, SAPP, SHMP and others, wherein the STPP segment held the majority share in 2016. While considering the application spectrum, the market is fragmented as seafood, meat, beverage and others, and the former three segments combinedly contributed 75% consumption share in 2016, cites the study.
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Speaking of the reginal landscape, food phosphate market is bifurcated into four major regions as China, United States, European Union, and rest of the world consisting of Japan, India, Southeast Asia, and Korea. Furthermore, China is expected to dominate the food phosphate market during the forecast timeframe, claims the report.
The prominent players operating in food phosphate market include Thermphos, ICL PP, CERDI, Innophos, Mianyang Aostar, Budenheim, Chuandong Chem, Xingfa Chemicals Group, Hens, Blue Sword Chem, Chengxing Industrial Group, Wengfu Gene-Phos Chem, Prayon, RIN KAGAKU KOGYO, Aditya Birla Chem, Tianjia Chem, Nippon Chem, Fosfitalia, Tianrun Chem, AsiaPhos, Huaxing Chem, Fosfa, and Zhongshen Phosphates Chem.