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Global Trisodium Phosphate Market to Grow at a Healthy Pace During 2021-2026, Aided by the Growing Demand for Food Additives

According to a new report by EMR titled, ‘Global Trisodium Phosphate Market Report and Forecast 2021-2026’, the global market for trisodium phosphate is being aided by the growing sodium phosphate market, which is expected to grow at a CAGR of 5% between 2021 and 2026 to attain USD 671.77 million by 2026.

The trisodium phosphate industry is being driven by the growing utilisation of food additives owing to the rising demand for convenience and processed food products. As trisodium phosphate can act as an acidity regulator, reducing the acidic nature of various food products, its demand within the food industry is rapidly increasing. Further, it can be added to dry and extruded cereals, thus, aiding the industry growth. The easy availability of packaged food products through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to significantly contribute to the industry growth in the forecast period. Moreover, sodium phosphate is recognised as safe for use in food products and has received approval from the Food and Drug Administration for use in food as well as personal care products, thus, boosting the industry growth.

Some of the major players in the industry include Recochem Inc. and Jiangsu Kolod Food Ingredients Co., Ltd. The key players are focusing on expanding their global reach and enhancing their production capacity. For instance, with plants or distribution centres in North America, Europe, India, Asia, and Australia, Recochem Inc. offers custom formulations and solutions to customers across the globe, serving individual, commercial, or industrial needs. These players are focusing on providing superior quality products to the consumers at competitive prices, which is expected to significantly contribute to the industry growth over the forecast period.

Market Breakup by Grade, Application, and Region:

  • By grade, the industry can be broadly categorised into food and technical grade trisodium phosphate.
  • On the basis of application, the industry can be segmented into food additive, detergent and cleaners, metal treatment, and water softener, among others.
  • Region-wise, the global market for trisodium phosphate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing food industry and the increasing demand for packaged and processed food products.
  • The increasing demand for trisodium phosphate for detergent and cleaning applications in developing nations is further aiding the market growth.
  • The industry is receiving a further boost with the rising disposable incomes, rapid industrialisation, and expanding applications of trisodium phosphate.
  • The advancements in the food processing sector is expected to significantly contribute to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for trisodium phosphate for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the grades, applications, and major regions of trisodium phosphate.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global trisodium phosphate market are Recochem Inc., Jiangsu Kolod Food Ingredients Co., Ltd., FBC Industries, Inc., Aarti Phosphates, and Hefei TNJ Chemical Industry Co.,Ltd., 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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