Food Grade Phosphoric Acid Market
Global food grade phosphoric acid market is estimated to be valued at USD 2.34 Bn in 2024 and is expected to reach USD 2.94 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031. Phosphoric acid is an important nutritional ingredient used in various food applications such as dairy products, beverages, bakery goods, and others. It regulates pH levels in these foods and prevents microbial growth. With rising health consciousness, there will be huge demand for processed and packaged foods. This can boost demand for food grade phosphoric acid over the forecast period. However, stringent regulations by U.S. FDA regarding its use may hamper the market growth.
Market Dynamics
Growing consumption of processed foods and beverages globally can lead to increased usage of phosphoric acid. Ready-to-drink beverages especially soda, energy drinks, and others consume large quantities of phosphoric acid as an acidulant. Rising demand for packaged dairy products such as milk powder, cheese, yogurt, and others which utilize phosphoric acid as a preservative and pH can aid market expansion. However, growing concerns regarding potential adverse health effects of phosphates can hamper the market growth. Product innovation targeting replacement of artificial ingredients with phosphoric acid can open up new opportunities for market players.
Key Features of the Study
- This report provides in-depth analysis of the global food grade phosphoric acid market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global food grade phosphoric acid market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include The Mosaic Company, OCP Group, Nutrien Ltd., Yara International ASA, Innophos Holdings, Inc., ICL Group Ltd., Hubei Ganke Chemical Co., Ltd., Chengxing Group Co., Ltd., Prayon S.A., AAPPTec, S. J. Chemicals, Hubei Huashan Chemical Co., Ltd., Kandla Chemicals Pvt. Ltd., Hunan Nonferrous Chenzhou Fluoride Chemical Co., Ltd., and Jiangyin Chengxing Group Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global food grade phosphoric acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global food grade phosphoric acid market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Food Grade Phosphoric Acid Market' - Global forecast to 2031
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