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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.
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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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