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.
Enter
your information below to receive a sample copy of this report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-894
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
No comments:
Post a Comment