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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Food Grade Phosphoric Acid Market Outlook
The global food grade phosphoric acid market is expected to grow in the forecast period of 2024-2032 at a CAGR of 4%.
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Increasing Demand for Processed Foods and Carbonated Beverages to Aid the Food Grade Phosphoric Acid Industry Growth
Based on application, the demand for food grade phosphoric acid in the preparation of processed foods is expected to significantly grow over the forecast period. Food grade phosphoric acid is used to produce phosphates utilised in food products, such as yeast, bakery products, cheese, jams, jellies, vegetable oils, and refined sugar. The food grade phosphoric acid salts are combined with baking soda to produce baking powder, a leavening agent found in many baked goods.
Meanwhile, food grade phosphoric acid is widely used as a flavouring agent in the carbonated food industry as its taste complements the cola flavour. The advancements in production methods have enabled manufacturers to provide consumers with high purity food grade phosphoric acid, thus, aiding the market expansion.
The Asia Pacific Region to Account for a Significant Share in the Food Grade Phosphoric Acid Industry
Geographically, the food grade phosphoric acid industry in the Asia Pacific is expected to have a significant growth rate during the forecast period. This can be attributed to the growing population and the rising demand for food preservatives in the region. China accounts for a considerable share in the Asia Pacific market owing to factors like the rising demand from the food and beverage industry, high production rate, and a presence of several key manufacturers in the region.
Food Grade Phosphoric Acid: Market Segmentation
Food grade phosphoric acid is a transparent and odourless chemical with a tangy and sour taste. It is commonly used for pH control and adjustment to acidify foods and beverages, such as jams and colas. It can be added to fat and oil as an emulsifier and assist in controlling fatty peroxides. In the vegetable oil and sugar refining process, it is used as a degumming agent. It can also be used as an acidulant for baking powder and emulsifying salt in the production of processed cheese.
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Based on application, the industry can be divided into:
- Food
- Beverage
- Pharmaceutical
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rapidly Growing Demand for Food Preservatives to Bolster the Growth of the Global Food Grade Phosphoric Acid Industry
The growing demand for food preservatives, especially in the beverage industry, is anticipated to propel the expansion of the food grade phosphoric acid industry in the forecast period. The pure food grade phosphoric acid is an essential food additive in mayonnaise, food sauces, and fruit juices. It is used as a food additive in meat and poultry products to make them firm and smoother. It is used as an acidity regulator and for yeast. To fulfil the growing demand for food grade phosphoric acid, manufacturers are consistently expanding production capabilities. Moreover, the growing demand for frozen and packaged food products, especially in urban areas, and the rising middle class population are expected to boost the demand for food grade phosphoric acid during the forecast period.
Key Industry Players in the Global Food Grade Phosphoric Acid Market
The report gives a detailed analysis of the following key players in the global food grade phosphoric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Brenntag SE
- Arkema Group
- Guangxi Qinzhou Capital Success Chemical Co. Ltd
- OCP SA
- Grasim Industries Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4% between 2024 and 2032.
The major market drivers include the increasing demand for food preservatives, the surging preference for frozen and packaged food products, and the growing consumption of beverages.
The key trends guiding the market growth include the increasing efforts by manufacturers to expand their production capacity and the rising use of food grade phosphoric acid as a flavouring agent in the carbonated food sector.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various applications of food grade phosphoric acid are food, beverage, and pharmaceutical.
The major players in the market are Brenntag SE, Arkema Group, Guangxi Qinzhou Capital Success Chemical Co. Ltd, OCP SA, and Grasim Industries Limited, among others.
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