FOOD GRADE PHOSPHORIC ACID MARKET ANALYSIS

Market Challenges And Opportunities

Global Food Grade Phosphoric Acid Market Drivers:

High demand for phosphoric acid for producing cola drinks is driving growth of the global food grade phosphoric acid market. It is used in soda especially in cola drinks and it also used to preserve the integrity of soda recipe blend. Thus, increasing consumption of cola drinks is propelling growth of the market. According to the Beverage Digest, the companies PepsiCo and Coca Cola together constituted about 68% of total carbonated soft drink market share, in the United States, in 2018.

Growing demand for phosphoric acid as food additive is again augmenting growth of the market. Increasing demand for processed food products will favor the growth of the market. Phosphates in processed foods not only maintain and improvise color, structure, flavor, and other sensory attributes of the food, but also enhance performance in food items by attaining optimum leavening

Global Food Grade Phosphoric Acid Market Opportunities:

Increasing application in canned food products is projected to present significant growth opportunities over the forecast period.  Phosphoric acid is increasingly gaining adoption in canned food due to its high functionality, from preserving to adding flavor to the final food products. Manufacturer like Guangxi Qinzhou Capital Success Chemicals Co. Ltd, are providing phosphoric acid feasible to incorporate in canned foods.

Increasing usage of phosphoric acid in pharmaceutical industry where it is used as an intermediate in pharmaceutical application is projected to serve major growth opportunities for key players. One of the emerging areas that phosphoric acid is used is in dentistry. It is widely used as an etching solution and is mainly used to clean the teeth.

Global Food Grade Phosphoric Acid Market Restraints:

Health risk associated with the high use of phosphoric acid in food products is expected to hamper the market growth. For instance, countries, like the United Kingdom and the United States, have set their respective Reference Nutrient Intake for phosphorus at 550 mg/day for adults and 700 mg/day for all adults over age 18. Moreover, adults with kidney disease are recommended to have no more than 800 to 1,000 mg of phosphorus a day.

Strict government regulation us usage of phosphoric acid is expected to face challenges in terms is production and supply of this product. This could limit the market growth in the near future.