About Food Grade Phosphoric Acid
Food Grade Phosphoric Acid market is being propelled forward by rising demand for preservative food products, especially in the beverage industry. The inorganic chemical is used to make cola drinks acidic. Phosphoric acid, pure food-grade, is an essential food additive. Orthophosphoric acid, also known as food-grade phosphoric acid, is an odourless, colourless, clear acid that tastes sour and is used to acidify foods and drinks such as jams and colas. Additionally, food-grade phosphoric acid is used as an acidity regulator and yeast nutrition agent. It can be used in processed foods, light beverages, flavours, and wineries as a source of carbon dioxide.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia |
Unit | Value (USD Million) |
CAGR | 4.2% |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Food Grade Phosphoric Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Mosaic Company (United States), Aditya Birla Chemicals (India), Devdhar Chemicals (India), Guangxi Qinzhou Capital Success Chemical (China), Guizhou U-Share Materials (China), OCP Group (Morocco), Agrema (Poland), The Potash Corporation (Canada) and ICL Food Specialties (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Wengfu Group (China) and Qinzhou Rongde Chemical (China).
Segmentation Overview
AMA Research has segmented the market of Global Food Grade Phosphoric Acid market by Type (Phosphoric Acid food grade 75%, Phosphoric Acid food grade 80% and Phosphoric Acid food grade 85%), Application (Food Preservation, Beverages Production, Metal Treatment, Sugar Refining and Others) and Region.
On the basis of geography, the market of Food Grade Phosphoric Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by End-use Industry, the sub-segment i.e. Food & Beverages will boost the Food Grade Phosphoric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Pure Food Grade Phosphoric Acid is a vital Additive in Mayonnaise, Food Sauces, and Juices
Market Growth Drivers:
Growing Demand for Frozen and Packaged Food Products and Rising Use for Preservatives in Food and Beverages
Challenges:
Stringent Government Regulations for Using Chemicals in Food Products
Restraints:
Prohibitions on Mixed Storage and Storage Conditions and Incompatible Materials
Opportunities:
Growing Demand for Preservative Food Products, especially in the Beverage Industry and Rising Demand from Emerging Market
Market Leaders and their expansionary development strategies
In January 2023, Prayon, a global player in phosphorus chemistry, announced the successful acquisition from Arkema of its shares in Febex, the European market leader for phosphoric acid in the electronics industry.
In Nov 2020, The Board of Directors of Gujarat Alkalies and Chemicals (GACL) has approved cost revision for the food-grade phosphoric acid plants.
Key Target Audience
Food Grade Phosphoric Acid Manufacturers, Raw Material Suppliers, Distributors/Traders/Wholesalers, Food Processing Vendors, Research Institutes, End-Use Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.