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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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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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