Market Overview:

The global food grade phosphoric acid market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.86% during 2023-2028.

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.

Food Grade Phosphoric Acid Market Trends:

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global food grade phosphoric acid market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

• Food Grade 75%
• Food Grade 80%
• Food Grade 85%
• Others
   

Breakup by Application:

• Food Preservation
• Beverages Production
• Metal Treatment
• Sugar Refining
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage: