According to the report by Expert Market Research (EMR), the global food grade phosphoric acid market size is projected to grow at a CAGR of 4% between 2024 and 2032. Aided by the increasing applications in the food and beverage industry, the market is expected to grow significantly by 2032.
Food grade phosphoric acid is a vital ingredient in the food processing industry, known for its role in acidifying foods and beverages. It is a colourless, odourless phosphorus-containing inorganic acid and is often used in the production of soft drinks, processed meats, and bakery products. Its application extends to acting as a leavening agent in baked goods and as a nutrient source in yeast fermentation.
The food grade phosphoric acid market growth is primarily driven by the expanding global food and beverage industry. With the rising consumption of processed and convenience foods, the demand for food grade phosphoric acid as an additive has surged. It is widely used in the beverage industry, particularly in cola and other flavoured sodas, where it imparts a tangy taste and serves as a preservative.
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Another factor propelling the food grade phosphoric acid market demand is the increasing awareness of the multifunctional benefits of phosphoric acid in food processing. Besides its use as a flavour enhancer and preservative, it also serves as an acidity regulator and sequestrant, helping to control the pH level and bind metal ions, respectively. These properties make it a valuable ingredient in various food processing applications.
Technological advancements in food processing techniques have also positively impacted the food grade phosphoric acid market outlook. Improved production methods have made the acid more accessible and cost-effective for food manufacturers, thereby facilitating its widespread use.
Regionally, North America and Europe dominate the market, owing to the well-established food and beverage industries in these regions and the high consumption of processed foods. However, the Asia Pacific region is witnessing rapid growth, driven by the increasing urbanisation and changing dietary habits in emerging economies like China and India.
Food Grade Phosphoric Acid Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
- Food
- Beverage
- Pharmaceutical
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Food Grade Phosphoric Acid Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global food grade phosphoric acid market. Some of the major players explored in the report by Expert Market Research are as follows:
- Brenntag SE
- Arkema Group
- Guangxi Qinzhou Capital Success Chemical Co. Ltd
- OCP SA
- Grasim Industries Limited
- Others
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