Food Grade Phosphoric Acid Market by Applications (Pharmaceuticals, Beverage, and Food) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global food grade phosphoric acid market size is expected to expand at a CAGR of 4.19% during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for frozen and packaged food items.
Phosphoric acid is a colorless and odorless powerful inorganic acid. It is a necessary ingredient in colas and other dark-colored carbonated beverages. Food grade phosphoric acid has a balanced strength and taste profile, making it a good choice for low-pH foods and beverages. The inorganic compound is used to make cola drinks acidic. Pure food-grade phosphoric acid is used in a variety of foods including sauces, mayonnaise, and fruit juices. Food preservatives include sodium and potassium phosphate salts. Phosphates in processed foods can help preserve and improve the structure, color, flavor, and other sensory characteristics of the product while improving baking performance by attaining optimal leavening. Food-grade phosphoric acid is often packaged in IBCs, HDPE drums, and bulk containers to ensure effective storage and convenient transport for any delivery service. Furthermore, food-grade phosphoric acid producers are concentrating on offering their products, which include features such as high purity, on-demand packaging, and custom-made products.
In the food grade phosphoric acid sector, the speed of change is quickened and firms that promptly re-align their strategy have emerged to be stronger from the extraordinary upheavals. However, in addition to worries about inflation, supply-chain disruptions, and sluggish consumer demand, the COVID-19 pandemic represents a serious threat to the overall market outlooks.
Market Trends, Drivers, Restraints, and Opportunities
- Rising food consumption, impacted by the increasing global population is a key driver of the market during the forecast period.
- High production rates and cheap labor costs are key factors that can propel the market in the coming years.
- Rapid urbanization, changing lifestyle, and development of new culinary tastes and behaviors are projected to boost the market.
- Development of bio-based products and problems arising due to the over usage of phosphate based synthetic products can hamper the market expansion during the forecast period.
- Demand for preservative food items particularly in the beverage industry is expected to create lucrative opportunities for the market growth in the coming years.
Scope of the Report
The report on the global food grade phosphoric acid market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Food Grade Phosphoric Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Applications (Pharmaceuticals, Beverage, and Food) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Grasim Industries Limited; Vinipul Inorganics Private Limited; and Guangxi Qinzhou Capital Success Chemical Co. Ltd |
Market Segment Insights
Beverage segment to expand at a considerable CAGR
On the basis of applications, the food grade phosphoric acid market is segmented into pharmaceuticals, beverage, and food. The beverage segment is projected to expand at a considerable CAGR during the forecast period. Phosphoric acid aids in the maintenance of optimum pH levels and extends the shelf life by acting as an acidity regulator in the beverage sector. Its applications include lowering waste creation and lesser expenses associated with product recalls or refunds at retail outlets owing to spoiling. On the other hand, the food segment is anticipated to account for a major market share during the forecast period as it helps to extend the shelf life of a product.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the demand for packaged goods by a growing population and rising middle-class income. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to China's industrial consolidation. The country also remained as the top user of phosphoric acid, with the bulk of the product going to culinary applications.
Segments
The global food grade phosphoric acid market has been segmented on the basis ofApplications
- Pharmaceuticals
- Beverage
- Food
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Grasim Industries Limited
- Vinipul Inorganics Private Limited
- Guangxi Qinzhou Capital Success Chemical Co. Ltd
Competitive Landscape
Key players competing in the food grade phosphoric acid market are Grasim Industries Limited; Vinipul Inorganics Private Limited; and Guangxi Qinzhou Capital Success Chemical Co. Ltd. The market for food-grade phosphoric acid is dominated by a few companies. These companies concentrate on taking advantage of developing market possibilities to increase their product range and meet the needs of diverse sectors, particularly the food processing business.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Food Grade Phosphoric Acid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Food Grade Phosphoric Acid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Food Grade Phosphoric Acid Market - Supply Chain
4.5. Global Food Grade Phosphoric Acid Market Forecast
4.5.1. Food Grade Phosphoric Acid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Food Grade Phosphoric Acid Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Food Grade Phosphoric Acid Market Absolute $ Opportunity
5. Global Food Grade Phosphoric Acid Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
5.3.1. Pharmaceuticals Beverage Food
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Food Grade Phosphoric Acid Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Food Grade Phosphoric Acid Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
7. North America Food Grade Phosphoric Acid Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Food Grade Phosphoric Acid Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
7.4.1. Pharmaceuticals Beverage Food
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
8. Latin America Food Grade Phosphoric Acid Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Food Grade Phosphoric Acid Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
8.4.1. Pharmaceuticals Beverage Food
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
9. Europe Food Grade Phosphoric Acid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Food Grade Phosphoric Acid Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
9.4.1. Pharmaceuticals Beverage Food
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
10. Asia Pacific Food Grade Phosphoric Acid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Food Grade Phosphoric Acid Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
10.4.1. Pharmaceuticals Beverage Food
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
11. Middle East & Africa Food Grade Phosphoric Acid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Food Grade Phosphoric Acid Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Food Grade Phosphoric Acid Market Size and Volume Forecast by Applications
11.4.1. Pharmaceuticals Beverage Food
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Food Grade Phosphoric Acid Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Food Grade Phosphoric Acid Market: Market Share Analysis
12.2. Food Grade Phosphoric Acid Distributors and Customers
12.3. Food Grade Phosphoric Acid Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Grasim Industries Limited Vinipul Inorganics Private Limited Guangxi Qinzhou Capital Success Chemical Co. Ltd
Applications
- Pharmaceuticals
- Beverage
- Food
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Grasim Industries Limited
- Vinipul Inorganics Private Limited
- Guangxi Qinzhou Capital Success Chemical Co. Ltd
Key players competing in the food grade phosphoric acid market are Grasim Industries Limited; Vinipul Inorganics Private Limited; and Guangxi Qinzhou Capital Success Chemical Co. Ltd. The market for food-grade phosphoric acid is dominated by a few companies. These companies concentrate on taking advantage of developing market possibilities to increase their product range and meet the needs of diverse sectors, particularly the food processing business.
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