Global Food Grade Phosphoric Acid Market to Grow at a CAGR of 4% During 2024-2032, Driven by the Growing Demand for Food Preservatives

The global food grade phosphoric acid industry is being driven by the growing demand for food preservatives across the globe. The application of food grade phosphoric acid as an acidulant for baking powder and emulsifying salt in the production of processed cheese has significantly contributed to the growth of the market. Further, the growing demand for frozen and packaged food products, especially in urban areas, and the application of food grade phosphoric acid as a food additive in meat and poultry products to make them firm and smoother are also aiding the growth of the market. In North America, to fulfil the growing demand for food grade phosphoric acid, manufacturers in the countries such as Canada and the USA are consistently expanding their production capabilities. During the forecast period, the beverage segment is predicted to have a significant growth owing to the huge application of food grade phosphoric acid for pH control and adjustment to acidify beverages.

The growing application of food grade phosphoric acid as a degumming agent in vegetable oil and sugar refining process is significantly contributing to the industry growth. It is commonly used for pH control and adjustment to acidify foods and beverages such as jams and colas, which are available on e-commerce websites. The growth of the e-commerce platforms like Amazon.com, Inc. (NASDAQ: AMZN) is expected to significantly contribute to the market growth over the forecast period.

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Market Analysis by Application and Region:

• The market on the basis of application can be divided into food, beverage, and pharmaceutical.

• The regional markets for food grade phosphoric acid include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for food grade phosphoric acid is being driven by the increasing demand for food preservatives.

• The industry is receiving a further impetus with the growing demand for frozen and packaged food products.

• The rising middle-class family income has significantly contributed to the market expansion.

• An increase in population and the growing urbanisation are expected to further propel the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for food grade phosphoric acid for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications and regions of food grade phosphoric acid.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global food grade phosphoric acid market are Brenntag SE, Arkema Group, Guangxi Qinzhou Capital Success Chemical Co. Ltd, OCP SA, and Grasim Industries Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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