The global food grade phosphoric acid market is expanding due to the high demand for phosphoric acid used in the production of cola drinks. It is used to keep the consistency of the soda recipe blend and is utilised in soda, particularly in cola drinks. Thus, rising cola drink consumption is boosting the market's expansion. The Beverage Digest estimates that in 2018, PepsiCo and Coca-Cola combined held roughly 68% of the market share for carbonated soft drinks in the United States.
Once more, rising demand for phosphoric acid as a food ingredient is boosting industry expansion. Growing consumer demand for processed food products will help the market expand. Phosphates in processed foods not only preserve and improve the food's colour, structure, flavour, and other sensory qualities, but they also improve food products' performance by achieving optimal leavening.
The market for Food Grade Phosphoric Acid was estimated at USD 3,146.20 million in 2021, and from 2022 to 2030, it is predicted to increase at a CAGR of 3.98%.
Leading Companies in the Food Grade Phosphoric Acid Industry:
1. Brenntag AG: Chemicals and chemical-based goods are produced, distributed, and sold by Brenntag SE under the headings of "life science," "material science," and "environment." Pharmaceuticals, food, cosmetics, and animal nutrition are all made with life science chemicals. Built in 1873. Head office in Germany. The leading distributor of chemicals and food ingredients worldwide, Brenntag (ISIN: DE000A1DAHH0), has acquired Storm Chaser Holding Corporation ("JM Swank"), based in the US, from Platinum Equity.
2. Arkema Group: A French chemical company called Arkema was historically well-known for dominating the global acrylics market. The business has now built a solid portfolio of specialist materials, nevertheless. There are four sections to Arkema. Founded 2004. Headquarters at France's Colombes. Acquiring Ashland performance adhesives for Arkema.
3. Grasim Industries Limited: created in 1947. An Indian company called Grasim Industries Ltd produces cement and viscose staple fibre (VSF). The operating segments of viscose, chemicals, cement, financial services, and others encompass the group's activities. Madhya Pradesh's capital is Nagda. For Rs. 1.30 lakh, Grasim Industries buys a stake in its wholly-owned subsidiary, ABRSPL.
4. Merck KGaA: Merck KGaA: The three primary business sectors of Merck KGaA are life sciences, performance materials, and healthcare. Researchers in academia and applied disciplines, such as the biopharmaceutical business, are supplied with laboratory supplies and equipment by the life sciences section. Established in 1891. German headquarters in Darmstadt. A legally binding deal has been struck by Merck to buy the chemical division of Mecaro Co. Ltd. (Mecaro), a publicly traded Korean manufacturer of heater blocks and chemical precursors for semiconductors.
5. Spectrum Chemical: distributor of specialised chemicals to domestic and international businesses. The business offers its customers agrochemicals, chemicals for oil fields, polymers, organic fertilisers, and tertiary amines. Founded 1990. Head office in Mumbai. With the acquisition of Spectrum Chemicals' distribution assets, Azelis India will diversify its product offering.
6. Prayon SA: Manufacturer of phosphate and fluorine compounds for use in fertilisers, medicines, building, and industrial uses. The business manufactures and sells natural phosphates, refined phosphoric acid, phosphate salts, and other products for detergency, the pharmaceutical sector, the food industry, and the market for fertilisers, particularly soluble products primarily used in horticulture. Founded 1882. Headquarters in Belgium's Engis.
7. Nutrien Ltd: Nutrien, the largest manufacturer of fertiliser in the world by production capacity, was formed in 2018 as a result of the combination of PotashCorp and Agrium. The three primary crop nutrients that Nutrien manufactures are nitrogen, potash, and phosphate, though it focuses mostly on potash, where it has the largest installed capacity in the world with about 20% market share. Created in 2017. Head office in Canada.
*Definition: Phosphoric acid is used in foods and beverages to give them a tangy taste. It is also used as a rust remover. The phosphates can dissolve the rust and return the metal to its original state.
