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The global food grade phosphoric acid market reached a value of US$ 2.24 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.91 Billion by 2027 exhibiting a CAGR of 4.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Food grade phosphoric acid is a colorless and odorless inorganic acid that is suitable for consumption. It is manufactured through wet, thermal and dry kiln processes and is widely used as an acidity regulator and nutrition agent for yeast that can be used in light beverages, canned foods and wines. Food grade phosphoric acid is primarily used to preserve and acidify foods and beverages, such as colas and jams, and provide a sour and tangy taste to the products. It is also utilized for beverage production, metal treatment, sugar refining and food preservation. It is commonly stored and packaged in an intermediate bulk container (IBC) and high-density polyethylene (HDPE) drums and is widely used in the production of carbonated beverages, packaged food items and bakery products.
The increasing demand for frozen and packaged food products across the globe is one of the key factors driving the growth of the market. Food grade phosphoric acid is widely used as a preservative and food additive in sauces, seafood, mayonnaise, meat and poultry products. This can also be attributed to the increasing demand for convenience food products due to the changing dietary habits and hectic lifestyles of the consumers. Additionally, the widespread product utilization in the processing of bakery products is positively impacting the market growth. Food grade phosphoric acid is added to cheeses, jams and jellies for improved taste and texture. It is also combined with baking soda to produce baking powder that is an essential ingredient to improve the quality of baked food items. Other factors, including the widespread product adoption for the manufacturing of bottled coffee beverages and flavored waters, along with significant growth in the food and beverage industry, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global food grade phosphoric acid market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., Brenntag SE, Emco Dyestuff Pvt Ltd, Grasim Industries Limited (Aditya Birla Management Corporation Ltd.), ICL Group Ltd., Innophos Inc., Nutrien Ltd., OCP Group, Spectrum Laboratory Products Inc., The Mosaic Company and Vinipul Inorganics Private Limited.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Arkema S.A., Brenntag SE, Emco Dyestuff Pvt Ltd, Grasim Industries Limited (Aditya Birla Management Corporation Ltd.), ICL Group Ltd., Innophos Inc., Nutrien Ltd., OCP Group, Spectrum Laboratory Products Inc., The Mosaic Company and Vinipul Inorganics Private Limited.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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