The global food grade phosphoric acid market is estimated to Propelled by Increasing Demand from Food Industry

Food Grade Phosphoric Acid Market


The food grade phosphoric acid is a mineral acid that is widely used in manufacturing food products such as canned meat, frozen foods, baked goods, and dairy products. It acts as a cleaning agent, preservative, leavening agent, and flavor enhancer.

The global food grade phosphoric acid market is estimated to be valued at US$ 3401.62 Mn in 2023 and is expected to exhibit a CAGR of 5.7 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing Demand from Food Industry: One of the major trends boosting the growth of the global food grade phosphoric acid market is the increasing demand from the food industry. Phosphoric acid is used extensively in processed foods as a flavor enhancer and preservative. It helps extend the shelf life of packaged and canned foods. The growing demand for convenience and packaged food products due to rapid urbanization and changing lifestyles has resulted in significant usage of phosphoric acid in the food industry. According to the Grain Processing Corporation, around 85% of phosphoric acid produced globally is used in the food industry for various applications like preventing bacterial growth, acidifying products, and improving product texture and stability. The rising food industry is expected to drive the demand for food grade phosphoric acid over the forecast period.


SWOT Analysis

Strength: Food grade phosphoric acid helps maintain optimal pH levels in various food products and acts as a preservative. It also enhances flavor and texture.

Weakness: Overconsumption of phosphoric acid can lead to health issues like bone loss and kidney damage due to excess phosphate content. Strict regulations are imposed on the usage levels in different food categories.

Opportunity: Increasing demand for convenience food and ready-to-eat meals is driving the use of acidulants like phosphoric acid for long shelf-life. Growing health-conscious consumer base is augmenting the demand for naturally sourced acids.

Threats: Availability of substitute acids and rising raw material costs poses challenges. Stringent food safety norms across regions can restrict the application scope.

Key Takeaways

The Global Food Grade Phosphoric Acid Market Share is expected to witness high growth. The global food grade phosphoric acid market is estimated to be valued at US$ 3401.62 Mn in 2023 and is expected to exhibit a CAGR of 5.7 % over the forecast period 2023 to 2030.

Regional analysis comprises Asia Pacific dominates the market and is estimated to maintain its leading position throughout the forecast period. Rapid urbanization, rising disposable income and growing population are fueling the demand for processed food in the region.

Key players operating in the food grade phosphoric acid are Innophos, The Mosiac Company, Solvay, OCP S.A, Nutrien, Israel Chemicals, and Plant Food Company. Key players are focusing on capacity expansion plans to cater to the rising demand. Companies are also investing in R&D for developing naturally sourced acidulants as clean label products gain traction.

For more details on the report, Read- https://www.ukwebwire.com/food-grade-phosphoric-acid-market-demand-and-overview/

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