Food grade phosphate finds applications in agriculture, food and beverages and animal feed industries. The agriculture segment by application shows dominance over the other application areas. A rapidly growing food industry worldwide and technological advancements over the last few years are some factors expected to boost growth of the global food grade phosphate market. Food grade phosphate is widely used in bakery and confectionery, meat and seafood, and dairy and nutrition products. Moreover, the application of phosphate as a preservative in the food industry is driving market demand for food grade phosphate.
Retail sales sector bound to have a significant impact
There are several macroeconomic factors that impact the global food grade phosphate market, of which the retail sales sector has a significant influence over the market. The retail sales sector is becoming well organised and is anticipated to expand across several domains, especially food and non-food consumer products. The expansion of worldwide retail chains coupled with swelling product lines and hence product portfolios is expected to drive the growth of the food products market – in a way impacting the global food grade phosphate market. Retail sales is one element driving market growth; however, rising urbanisation, per capita consumption expenditure and GDP growth have a fairly moderate impact on the growth of the food grade phosphate market.
Agriculture sector by application shows dominance
The agriculture segment reflects a significant growth rate as compared to other application segments, and is anticipated to register a CAGR of 2.1% during the period of forecast (2017 to 2027). This segment fairs well with respect to incremental opportunity and is expected to reach a market value of about US$ 25 Bn by the end of 2027. The animal feed and agriculture segments go hand in hand showing a similar growth pattern and pace. However, the agriculture segment is a shade better in terms of value and volume share in the global food grade phosphate market and shows higher incremental opportunity than the animal feed segment.
APEJ region to grow at a faster rate with the agriculture segment supporting this growth
The Asia Pacific excluding Japan (APEJ) region reflects dominance in the global food grade phosphate market over other regions and is expected to grow at a higher rate. One of the major contributors to this growth is the agriculture sector. Food grade phosphate being widely used in agriculture, this application segment finds itself at the peak of the value share in the APEJ region and is expected to retain its high share during the forecast period. Our research indicates that the agriculture segment by application in the APEJ food grade phosphate market will hold a huge market value share of 85.4% by 2017 end and is expected to reach 86.6% share by the end of 2027. It is also poised to enjoy a huge gain in the BPS (125 basis points) by the end of 2027. Revenue generated by the agriculture segment in the APEJ regional market is estimated to be more than US$ 7 Bn by the end of 2027.
There are many drivers and trends lurking in the market that have a positive impact on the growth of the global food grade phosphate market. The diversity in “ready to eat” food as well as convenience food is driving the market. In the food processing sector, food grade phosphate is used extensively as a texturizing agent, stabilising agent and also as a thickener. Demand for ready meals and food products is increasing, which is expected to increase the demand for food grade phosphate significantly. The rising demand for mineral enriched and fortified food products given the shifting consumer preference towards mineral rich and fortified food products is yet another fuelling factor positively impacting revenue growth of the global food grade phosphate market.
Key opportunities and trends that support the growth of the global food grade phosphate market
Potential growth opportunities exist in the market for synthetic food additives. Food additives include various natural and synthetic food additives that are used to preserve freshness, texture and flavour of food products
Growing consumer concerns regarding the food products they consume on a routine basis have created the need for using food grade phosphate in a variety of food products. Consumers are more informed than before regarding food labels and ingredients, and are either looking for food with “E” number or labels stating natural, organic, or non-GMO
Manufacturers of phosphates are expanding their business presence in countries in Asia Pacific, Latin America and Western Europe to cater to growing applications in food, feed and agriculture industries. This expansion in emerging economies is yet another opportunity that should be grabbed to gain competitive advantage with respect to price and delivery time
Manufacturers of food grade phosphate are focussing on expanding their business in order to enhance production capacity and cater to increasing customer demand in various regions
Key players are focussing on the millennial segment. Millennials are the major group preferring consumption of healthy food products. Increased corporate culture owing to busy schedules has shifted consumer preferences for healthy food and beverages
This detailed and comprehensive research report titled “Food Grade Phosphate Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” offers the much needed value addition to the readers enabling them to take strategic decisions and progress alongside the dynamically changing market scenario.
In-depth analysis can be used to qualify the next step towards strategic development
The report on the global food grade phosphate market is an exhaustive research study by Future Market Insights that covers the global scenario and provides weighted analyses of the various macroeconomic and strategic aspects that have a strong influence over the market. This impact has been quantified in the research study with the help of data and statistics and their representations and analysis, which gives a holistic, unbiased market representation and can be used to infer the growth direction of the market. The report includes a detailed segmentation involving the application areas and the product types across various geographies such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA). The statistical analysis and forecasting will help in getting a clear market understanding and its standing in the present as well as future scenario based on historic market insights. The number crunching, market information, data mining etc., is based on a predefined market definition that is included in the market introduction chapter in the report. Trends, developments, opportunities, challenges or restraints, and growth drivers considering the entire market ecosystem have been included in this research study.
To achieve this clarity and get acquainted with the various market components and elements that impact the market, a powerful research approach is followed at Future Market Insights, which has proven useful in gathering data and achieving high accuracy of the results provided in the report. Initial steps to understand the market and get a certain direction based on the market definition is achieved with the help of secondary research. This vast research covers a wide angle of the market and points in the right direction based on which primary research is carried out. Across all important geographies, several primary interviews are conducted, which give a shape to the current market understanding based on which inferences are slated. Moreover, each insight, each data point and each statement that is noted is cross checked at every stage during the primary research, re-evaluated during each primary interview and thereby all the data undergoes validation a couple of times. The key opinions from market observers, industry experts and secondary sources are chalked out and this extensive information is triangulated to arrive at conclusions with maximum accuracy. The research process includes profiling of the market, identifying and listing respondents, preparing a detailed conversation guide based on overall market understanding, collection of data points, validating the data, analysing it, and providing meaningful insights.
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The global food grade phosphate market research report has a detailed segmentation covering all the possible angles of the market. This induces a completeness and totality of the market assisting the reader to explore each part of the market in depth.
The research study presents a holistic 3600 view of the global food grade phosphate market considering all major geographies and expresses an unbiased opinion about the market with a realistic market contour that can be used to slate important decisions from a strategic standpoint. Trends and developments that are likely to drive the market in the future are detailed in this report. Maximum accuracy supports the research thesis and helps readers take new strategic steps. The report offers actionable intelligence at the reader’s doorstep and a detailed SWOT analysis of the competition only adds to the research credibility. Effective forecasting helps in judging current decisions and planning future moves. The report further presents in-depth weighted analysis that does justice to the detailed segmentation covered in the study.