Global feed phosphate market is projected to experience brisk growth over the forecast period due to rise in animal-based food products consumption across the world. Growing meat demand is estimated to favor feed phosphate industry growth over the next eight-year period.
Phosphate is added to animal feed to deliver adequate nutrient requirement to the domestic animals and livestock to improve their health. There are several advantageous related to the phosphate feed usage which includes meat product quality enhancement, nutritional quality improvement, and ease in feed digestibility. It is prepared from calcium sulphate or calcium carbonate mixture and phosphoric acid. Feed phosphate provides the adequate phosphorus requirements to animals that aid livestock development. It benefits animals by stimulating growth during various life cycle stages, acts as the best calcium source for bone development, and develops fertility in animals.
The increase in meat consumption across the globe in the recent past is anticipated to propel the industry growth over the next eight-year period. Moreover, the rising demand for dairy products is another key factor that is presumed to contribute towards the market growth. Industrialization of the meat processing industry is expected to impact the feed phosphate market positively. Demand for better quality dairy and meat products is presumed to boost the industry demand due to rising awareness towards benefits associated with such feed additives. Numerous livestock disease outbreaks in recent years are expected to force further the meat and dairy product vendors to use this feed additive for better animal health assurance
The raw material shortage is presumed to be an essential growth restraint for the market over the forecast period. Phosphate rocks being non-renewable in nature are anticipated to be exposed to scrutiny over their usage and demand. Once smooth phosphate rock ceases, remaining rocks are hard to access. Such a trend is projected to impact the industry adversely over the next few years. High product cost is another major factor that is expected to affect the industry growth and development negatively. Growing substitute demand for products such as phytase, which is a lower cost alternative, is presumed to hamper the industry growth.
Stringent government rules and regulations related to animal husbandry are assumed to an adverse impact on the sector across the globe in the next few years. Regulatory norms mandate the vendors to comply with several standards which result in slow and expensive production process. Accelerating raw materials cost is presumed to hinder further the growth over the eight-year period. Rising awareness towards benefits of feed additives in developing regions such as Asia Pacific and Central & South America is anticipated to open up new opportunities for the industry participants. Innovation in production processes is predicted to remain a key challenge for the market.
Based on phosphate type the feed phosphate market is segmented into defluorinated, mono-dicalcium, dicalcium, tricalcium, and monocalcium. Application wise industry is classified into poultry, cattle, swine, and aquatic animals.
Key regional markets include North America, Europe, Central & South America, Middle East & Africa, and Asia Pacific. Developed regions such as Europe and North America dominated the global feed phosphate market owing to high demand for meat products in the recent past. These regional markets are expected to show positive growth over the forecast period. Developing regions such as Asia Pacific and Central & South America are scheduled to experience a rapid increase in the industry owing to high meat products demand which stems from factors such as rapid population growth and rising disposable income. Emerging economies including China and India are estimated to witness positive growth over the next eight year period and lead the regional market.
Companies are investing in research and development initiatives to generate superior products which give them a competitive advantage over other vendors and provide economic benefits. The companies are expected to take active measures such as mergers & acquisitions to gain market share and to deliver a diversified product portfolio to their customers. Prominent industry participants include Eurochem, Phosagro, The Mosaic Company, Ecophos S.A., J.R. Simplot Company, Sichuan Lomon Corporation, Timab Industries, Wengfu Group, OCP Group, Potash Corporation of Saskatchewan Inc., Yara International ASA, Fosfitalia Spa, Quimpac S.A., Sichuan Chuanheng Chemical Corporation and Chemical and Mineral Corp.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
Weaker consumer demand for lifestyle and wellbeing products due to social restrictions and lockdown policies shall have a negative impact on the demand patterns of cosmetic ingredients and certain categories of food additives. However, easing restrictions and public discourse about restarting economic activities in the consumer goods marketspace indicates that, the recovery of demand is imminent. The report will account for Covid19 as a key market contributor.