Feed Phosphate Market Size is Anticipated to Grow USD 2,696.1 million at a CAGR of 4.1% by 2033 – Report by Persistence Market Research
The rising desire for premium meat products, coupled with economic growth and heightened consumer expectations, is driving an increased demand for feed phosphates.
New York, Oct. 11, 2023 (GLOBE NEWSWIRE) — According to a recent study conducted by Persistence Market Research, the global market for feed phosphate ingredients experienced steady growth, with a compound annual growth rate (CAGR) of 4.2% from 2018 to 2022. By 2023, it had reached a total value of US$ 1,803.9 million.
Looking ahead, the research suggests that the sales of feed phosphate ingredients worldwide are projected to continue growing, with an anticipated CAGR of 4.1%. This growth is expected to drive the market size up to US$2,696.1 million by the conclusion of 2033.
The feed phosphate market faces significant challenges in its raw material supply chain. Key players and vendors in the industry have encountered difficulties due to issues like inefficient logistics, traffic congestion, and movement restrictions in various countries around the world. These problems have led to disruptions in the supply of raw materials. Additionally, the global trade restrictions implemented in response to the COVID-19 pandemic have had a detrimental impact on the feed phosphate market by disrupting global logistics and transportation.
Furthermore, the market is constrained by rising raw material costs and the limited availability of phosphate reserves, which are non-renewable resources. On the positive side, there are opportunities that are reshaping the industry dynamics. There is a growing demand for natural feed products and alternatives, such as the use of phytase in animal feed blends to reduce manufacturing costs. Many companies are also investing in research and development to find sustainable ways to use phosphate.
In response to shifting dietary preferences, especially in developing markets, there has been a global increase in livestock production across various animal species to meet the demands of the population. This trend is opening up new avenues in the feed phosphate market.
For more insights into the Market, Request a Sample of this Report – https://www.persistencemarketresearch.com/samples/27682
|Market Revenue 2023||US$ 1,803.9 million|
|Estimated Revenue 2033||US$ 2,696.1 million|
|Growth Rate – CAGR||4.1%|
|No. of Pages||201 Pages|
|Market Segmentation||By Form, Species, Region|
|Regions Covered||North America, Latin America, Europe, Asia Pacific, Middle East & Africa|
|Companies Covered||The Mosaic Company, J.R. Simplot Company, Aliphos, PHOSPHEA, BenTrei, Nutrien Ltd., PhosAgro, AG CHEMI group s.r.o, De Heus, OCP (Office chérifien des phosphates), Ma’aden Phosphate Company, EcoPhos S.A., Yara International ASA, The Fosfitalia group|
- Increasing Global Population: The world’s population continues to grow, leading to higher demand for animal-based protein products. This, in turn, drives the need for more efficient livestock production, which relies on feed phosphate supplements.
- Changing Dietary Preferences: There is a shift towards protein-rich diets, particularly in developing countries. This change in dietary habits increases the demand for feed phosphate as livestock farming intensifies.
- Growing Aquaculture Industry: The aquaculture industry is booming, driven by the popularity of seafood. Feed phosphate is used in fish and shrimp farming to improve feed efficiency and promote growth.
- Focus on Animal Health and Nutrition: There is a growing emphasis on improving animal health and nutrition to ensure higher productivity and reduced mortality rates. Feed phosphate plays a crucial role in achieving these objectives.
- Technological Advancements: Ongoing research and development efforts are leading to the development of more effective and sustainable feed phosphate products, contributing to market growth.
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at: https://www.persistencemarketresearch.com/request-customization/27682
- Raw Material Scarcity: Phosphate reserves are finite, and their extraction can be environmentally challenging. The scarcity of these raw materials may lead to price volatility and supply chain disruptions.
- Environmental Regulations: Increasing environmental concerns may result in stricter regulations on phosphate mining and manufacturing processes. Compliance with these regulations can increase production costs.
- Alternative Feed Ingredients: The development and adoption of alternative feed ingredients, such as plant-based proteins and synthetic amino acids, could reduce the demand for feed phosphate in some applications.
- Health and Safety Concerns: Health concerns related to excessive phosphate intake in animal and human diets may lead to increased scrutiny and potential restrictions on its use in feed formulations.
- Technological Challenges: The development of effective and sustainable phosphate reduction technologies in animal feeds may pose technical and cost challenges to the feed phosphate industry.
- Growing Protein Demand: Meeting the rising global demand for protein will drive the need for feed phosphate in livestock and aquaculture industries.
- Sustainable Solutions: Developing eco-friendly and sustainable phosphate products aligns with environmental goals and consumer preferences.
- Technology Advancements: Research and development can lead to more efficient and cost-effective feed phosphate solutions.
- Emerging Markets: Expanding livestock and aquaculture industries in emerging economies offer substantial growth potential.
- Animal Health Focus: Enhancing animal health and nutrition supports increased feed phosphate usage.
- Phytate Reduction: Continued efforts to reduce phytate levels in feed formulations create opportunities for feed phosphate as a phytase source.
- Market Diversification: Exploring new applications and markets beyond traditional livestock can expand opportunities.
Access our all-inclusive report featuring a dynamic dashboard highlighting industry leaders, market influence, competition overview, and regional trends. Grab it now with exclusive discounts! https://www.persistencemarketresearch.com/checkout/27682
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
USA – Canada Toll-Free: 800-961-0353
Email: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.