Food Grade Phosphoric Acid Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.44 Billion |
| Market Size (2029) | USD 2.90 Billion |
| CAGR (2024 - 2029) | 3.44 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Food Grade Phosphoric Acid Market Analysis
The Food Grade Phosphoric Acid Market size is estimated at USD 2.44 billion in 2024, and is expected to reach USD 2.9 billion by 2029, growing at a CAGR of 3.44% during the forecast period (2024-2029).
High consumption of beverages remained one of the key factors, driving the market studied, during the forecast period. Despite rising concern against the detrimental attributes of soft drinks, the sector lays vast scope for the niche ingredients like phosphoric acid, about the robust consumption share of cola drinks in the overall soft drink industry. Moreover, companies, promoting their products and supplementing their sales, are constantly emphasizing the fact that phosphorus acid, when taken in small quantities, causes no harm. For instance, Pepsi, in response to several epidemiological studies, stated a research finding about the health-effectiveness of phosphoric acids. Additionally, companies like Coca-Cola are even comparing the incorporated phosphorus content with food products, including milk, rice, and chicken, to gain consumers' confidence.
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 a thrust to the market. Furthermore, the multidimensional role of food-grade phosphoric acid in the leavening process of baking, moisture, color, texture, and flavor retention, and its important role as an anti-caking agent is augmenting the growth of the market studied. Hence, brands such as Bell Chem have been offering food-grade phosphoric acid that acts as a food source for yeast and is often employed as an ingredient to leaven baked goods.
Food Grade Phosphoric Acid 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, boosts the market. The inorganic chemical is used to acidulate cola-type beverages. 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 maintain and improvise the structure, color, flavor, and other sensory attributes of the food and improve performance in baked food items by achieving optimum leavening.
The increasing demand for convenience and processed food such as ready-to-eat foods, ready-to-drink beverages, snacks, frozen meals, and others is one of the significant factors driving the food additives market. With the rising urbanization, growing middle-class population, increasing number of working women, and rising disposable income, the developed and developing regions across the world are witnessing a rising demand for processed and packaged food, thereby increasing the need for food packaging and processing solutions. Therefore, food additives are extensively used in processed and convenience food products to preserve the freshness, safety, taste, appearance, and texture of processed foods. Phosphoric acid is often added to carbonated drinks for a sharper and tangy taste. It also helps slow down the growth of molds and bacteria in sugar formula. Leading beverage companies across the world have been using phosphoric acid in their product compositions. For instance, Coca-Cola incorporates phosphoric acid, which is used in its certain sparkling beverages to add tartness. Hence, the food-grade phosphoric acid market has been growing proportionally, along with the beverage industry's growth. For instance, in 2021, the UK soft drink industry's revenue was GBP 16.66 billion, thus boosting the demand for food-grade phosphoric acid.
Asia-Pacific Constitutes the Largest and Fastest-growing 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, India, and other developing countries. Most manufacturers are consistently expanding production capabilities to cater to the growing demand for food-grade phosphoric acid. Factors such as high production rates and lower labor rates have led Asian countries like China to account for the major share of the food-grade phosphoric acid market.
The sugar industries in the Asia-Pacific region use the additive in sugar refining. Also, as per the M.S. Asia Group, food-grade phosphoric acid salts are blended with baking soda to manufacture baking powder used as a fermenting agent in many baked products. Poultry products in Southeast Asian countries are improved with salt solutions to enhance their flavor and moisture. In Taiwan, it is used to process bean products, such as bean curd, meat products, juice beverages, and yeast powder.
According to the Bureau of Indian Standards, the use of food-grade phosphoric acid is permitted in India under the Prevention of Food Adulteration Rules, 1955, unless it contains sulfate, fluoride, and chloride impurities. The country utilizes 85% food-grade phosphoric acids in beverages, seed processing, sugar juice, sugar refining, and food and phosphate manufacturing.
Food Grade Phosphoric Acid Industry Overview
The leading players in the food-grade phosphoric acid market enjoy a dominant presence worldwide. However, the market studied is highly fragmented in nature due to the presence of a huge number of players in the market. These players focus on leveraging opportunities posed by emerging markets to expand their product portfolios to cater to the requirements of various industries, especially the food processing industry. Some of the major players in the market include Brenntag SE, OCP SA, Grasim Industries Limited, Prayon SA, and Guangxi Qinzhou Capital Success Chemical Co. Ltd. The players adopt strategies such as expansions and product innovations to maintain their stronghold in the market. Such strategies help the players efficiently cater to the end-user demand and maintain a leading position in the market.
Food Grade Phosphoric Acid Market Leaders
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Brenntag AG
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OCP SA
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Prayon SA
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Guangxi Qinzhou Capital Success Chemical Co. Ltd
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Grasim Industries Limited
*Disclaimer: Major Players sorted in no particular order
Food Grade Phosphoric Acid Market News
- January 2023: Prayon, a major operator in the phosphorus industry, announced the successful acquisition of its shares in Febex, the dominant player in the phosphoric acid market in Europe, from Arkema.
- March 2022: Spectrum Chemical Mfg Corp., a supplier of fine chemicals, laboratory supplies, and equipment, revealed that it had expanded its line of chemicals and the bioCERTIFIEDTM quality management system for biopharmaceutical production by adding 12 new products. Sugars/carbohydrates, organic and inorganic salts, and preservatives are among the 12 new bioCERTIFIED products that have been added. These products are used in a variety of bioprocessing applications, from upstream cell culture development to downstream filtration, polishing, and final fill production.
- December 2021: In Kasbat Tadla, a town in the province of B茅ni Mellal-Kh茅nifra, the Office Ch茅rifien des Phosphates (OCP), an exporter of raw phosphate, phosphoric acid, and phosphate fertilizers, started construction on a wastewater treatment facility.
Food Grade Phosphoric Acid Market Report - Table of Contents
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 Industry Attractiveness - Porter's Five Forces 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 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 Russia
5.2.2.7 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 Nutrien Ltd
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
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Food Grade Phosphoric Acid Industry Segmentation
Phosphoric acid is a strong inorganic acid that is colorless and odorless. It is an indispensable additive, often found in colas and other dark-colored carbonated sodas. The strength and flavor hold a neutral profile of food-grade phosphoric acid, making it a desirable choice for low-pH foods and beverages.
The food-grade phosphoric acid market is segmented by application and geography. Based on the application, the market is segmented into food, beverage, and pharmaceutical. The study also covers an analysis of the major regions such as North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecasts have been done on the basis of value (USD).
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| Food | |
| Beverage | |
| Pharmaceutical |
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Food Grade Phosphoric Acid Market Research FAQs
How big is the Food Grade Phosphoric Acid Market?
The Food Grade Phosphoric Acid Market size is expected to reach USD 2.44 billion in 2024 and grow at a CAGR of 3.44% to reach USD 2.90 billion by 2029.
What is the current Food Grade Phosphoric Acid Market size?
In 2024, the Food Grade Phosphoric Acid Market size is expected to reach USD 2.44 billion.
Who are the key players in Food Grade Phosphoric Acid Market?
Brenntag AG, OCP SA, Prayon SA, Guangxi Qinzhou Capital Success Chemical Co. Ltd and Grasim Industries Limited are the major companies operating in the Food Grade Phosphoric Acid Market.
Which is the fastest growing region in Food Grade Phosphoric Acid Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Food Grade Phosphoric Acid Market?
In 2024, the Asia Pacific accounts for the largest market share in Food Grade Phosphoric Acid Market.
What years does this Food Grade Phosphoric Acid Market cover, and what was the market size in 2023?
In 2023, the Food Grade Phosphoric Acid Market size was estimated at USD 2.36 billion. The report covers the Food Grade Phosphoric Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Food Grade Phosphoric Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Food Grade Phosphoric Acid Industry Report
Statistics for the 2024 Food Grade Phosphoric Acid market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Food Grade Phosphoric Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
