DUBLIN--(BUSINESS WIRE)--The "Food Grade Phosphoric Acid Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global food grade phosphoric acid market is projected to grow at a CAGR of 3.98% during the forecast period, 2020-2025.
The strength and flavor hold a neutral profile of food grade phosphoric acid, making it a desirable choice for low-pH foods and beverages. Moreover, high consumption in food sector remained one of the key factors, driving market studied, during the forecast period.
By geography, Asia-Pacific accounted for the largest share, in 2019. Owing to the production consolidation in China, the region also remained the largest consumer of phosphoric acid with majority being directed to food applications.
Key Market Trends
Increasing Demand as a Food Additive
The market studied is increasingly being driven by its evolving role as a food additive in a variety of processed food products. Thus, the growing demand for preservative food products, especially in the beverage industry, is providing the thrust to the market. The inorganic chemical is used to acidulate cola-type beverages. The pure food-grade phosphoric acid is an important food additive in food sauces, mayonnaise, and fruit juices. Sodium and potassium phosphate salts serve as food preservatives. Phosphates in processed foods can not only maintain and improvise structure, color, flavor, and other sensory attributes of the food, but also improve performance in baked food items by achieving optimum leavening.
Asia-Pacific is the Largest Market
The food grade phosphorus acid and phosphates have gained strong benefits from the rapid development of the food processing industry in countries, like China and India, and other developing countries. Also, the Chinese government estimated that the annual demand for food-grade phosphoric acid from China might reach more than 200,000 metric ton, in the upcoming years. Most of the manufacturers are consistently expanding production capabilities in order to cater to the growing demand for food-grade phosphoric acid. Factors, such as high production rate and lower labor rates, have led developing countries to account for the major share of the food grade phosphoric acid market in the region.
Competitive Landscape
The leading players in the food grade phosphoric acid market enjoy a dominant presence worldwide. These players focus on leveraging opportunities posed by emerging markets to expand their product portfolio so that they can cater to the requirements for various industries, especially the food processing industry. Some of the major players, such as Guangxi Qinzhou Capital Success Chemical Co. Ltd, Grasim Industries Limited, and Vinipul Inorganics Private Limited, among others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Food
5.1.2 Beverage
5.1.3 Pharmaceutical
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 Italy
5.2.2.4 Spain
5.2.2.5 France
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle East
5.2.4.3 Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Brenntag AG
6.3.2 Arkema Group
6.3.3 Guangxi Qinzhou Capital Success Chemical Co. Ltd.
6.3.4 OCP SA
6.3.5 Grasim Industries Limited
6.3.6 Merck KGaA
6.3.7 Spectrum Chemical Manufacturing Corp.
6.3.8 Prayon SA
6.3.9 Emco Dyestuff Pvt. Ltd.
6.3.10 Vinipul Inorganics Private Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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