Phosphate Salts Market to Hit $90 Bn By 2032, Says Global Market Insights Inc.
Major phosphate salts market participants include Chengdu Talent Chemical Co. Ltd, Innophos, Aditya Birla Chemicals, Hubei Xingfa Chemicals Group Co., Ltd, PhosAgro, Sulux Phosphates, Univar Solutions, Prayon, Haifa Group, TKI Hrastnik d.d.
Selbyville, Delaware,, April 13, 2023 (GLOBE NEWSWIRE) —
The phosphate salts market valuation is estimated to cross USD 90 billion by the year 2032, as reported in a research study by Global Market Insights Inc.
Increasing consumption of meat & poultry products will augment the demand for phosphate salts in the processed meat sector. Phosphate salts are used in meat products to enhance their texture and increase moisture. Consumer consciousness regarding the benefits of switching to a high protein and low fat & calorie content diet has increased the demand for meat products. The increased demand for meat items such as meat-based burgers, fillets, hotdogs, sausages, and stews across restaurants and food businesses will boost the phosphate salts market growth.
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The food grade segment is projected to record nearly 6.5% CAGR between 2023 to 2032. Food-grade phosphate salts improve the flavor and moisture of frozen seafood products. Growing fish and aquaculture production, combined with rising public awareness about the health benefits of fish-based diets, has boosted seafood consumption in recent years. People are consuming more seafood as a result of reduced waste generation, better utilization, and the availability of improved distribution channels. Budding demand for convenience foods and improving consumer spending will increase the demand of the processed meat sector, facilitating food-grade phosphate salts industry value.
Regionally, Europe phosphate salts market size is expected to reach USD 20 billion through 2032. Phosphate salts are anticipated to be in high demand across Europe due to factors like their expanding usage in fertilizer and water treatment, rising significance in industrial applications, and mounting need for biofuels. Efforts to improve food security are accelerating the demand for fertilizers made from phosphate salts. The pressing need for clean water across the region has reinforced the usage of these salts in water treatment. Phosphate salts are also utilized in industrial applications such detergents, food additives, and metal treatment, which may drive up product demand until 2032.
Chengdu Talent Chemical Co. Ltd, Innophos, Aditya Birla Chemicals, Hubei Xingfa Chemicals Group Co., Ltd, PhosAgro, Sulux Phosphates, Univar Solutions, Prayon, Haifa Group, TKI Hrastnik d.d. are some of the leading companies operating in the global phosphate salts market. These companies are concentrating on expanding their business presence in different end-user sectors.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Phosphate Salts industry 3600 synopsis 2018 – 2032
2.1.1 Business trends
2.1.2 Grade trends
2.1.3 Product trends
2.1.4 End use trend
2.1.5 Regional trends
Chapter 3 Phosphate Salts Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2018 – 2032
3.3 Industry ecosystem analysis
3.4 Technology landscape
3.5 Raw material analysis
3.6 Pricing Analysis
3.7 Regulatory landscape
3.8 Innovation & Sustainability
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls & challenges
3.10 Growth potential analysis, 2022
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 Impact of COVID-19, by application
3.14 Impact of Russia Ukraine war on Phosphate Salts Market landscape
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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