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The food grade phosphoric acid market is expected to grow at a CAGR of 7.2% over the forecast period 2018 2023. The European and North American markets are expected to generate demand since recovering from the economy crisis.
Growing demand for preservative food
Sodium tripolyphosphate has applications in various enduser industries, such as food beverages, pharmaceuticals, agriculture and cosmetics. The growing demand for preservative food products, especially in urban areas, is driving the food grade phosphoric acid market. The food grade phosphoric acid is used as a food additive in seafood, meat and poultry products for making them firm and smoother. It is also a preservative in fruits juice, vegetable protein drinks and milk products. Thus, the growing demand for food grade phosphoric acid is anticipated to drive the market demand in the enduser industries, such as pharmaceuticals, food beverages and agriculture. Foodgrade phosphoric acid is a common food additive that leads to decreased bone mineral density. The adverse effect of food grade phosphoric acid acts as a restraint to the market.
Increasing applications in bakery products
By type, the market is segmented into foodgrade phosphoric acid75% and foodgrade phosphoric acid85%. The food grade phosphoric acid is used to acidify food products like colas and has a tangy taste. It can also be used to make phosphates used in food products, such as cheese, bakery products, yeast, jams, jellies, vegetable oils and refined sugar. The foodgrade phosphoric acid salts are combined with baking soda to produce baking powder, a leavening agent found in many baked goods. Breakfast or cereal bars, bottled coffee beverages, flavored waters, and processed meats are other processed foods that may contain foodgrade phosphoric acid. Fresh meat and poultry products are enhanced with salt solutions to increase their moisture and flavor. These solutions also contain foodgrade phosphoric acid or phosphate salts.
AsiaPacific dominates the current demand for foodgrade phosphoric acid, among all regions, with manufacturing hubs, such as India and China, consistently extending the requirements. The AsiaPacific food grade phosphoric acid market is expected to grow owing to the growing application industry. China accounts for the largest share in the AsiaPacific market, of more than 40%, owing to the rising demand from enduser industries like food beverages.
Major Players: MOSAIC, OCP, GUANGXI QINZHOU CAPITAL SUCCESS CHEMICAL CO. LTD., GUIZHOU USHARE MATERIALS CO., LTD., AGREMA.
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