The global food grade phosphoric acid market is largely used in the food & beverage industry due to its properties of improving taste, inhibiting microbial growth, and regulating acidity or alkalinity of various food products. Food grade phosphoric acid is colorless, odorless, and possesses excellent solubility which makes it a suitable additive for numerous food applications. It is used in carbonated drinks, bakery products, dairy products, processed meat and seafood to enhance flavor and extend shelf-life. The rising consumption of packaged and processed food & beverages globally has propelled the demand for food grade phosphoric acid.

The Global Food Grade Phosphoric Acid Market is estimated to be valued at US$ 1.05 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031

Key Takeaways
Key players operating in the food grade phosphoric acid are Westrock Company, Keystone Folding Box Co, Cardinal Health Inc, Omnicell Inc., Jones Healthcare Group, Drug Package LLC, Manrex Limited, Medicine-on-time LLC, and Rx Systems Inc. These players are focused on expanding their production capacities and geographical reach to cater to the growing demand.

The Food Grade Phosphoric Acid Market Growth is expected to increase substantially over the coming years owing to rising consumption of packaged food & beverages globally. Developing countries in Asia Pacific and Latin America are expected to drive the highest demand due to westernization of diets and growth in disposable income levels.

Technological advancements in purification and production processes have improved the quality and yield of food grade phosphoric acid. Wet process yields 85% P2O5 content phosphoric acid suitable for various industrial applications. New production processes focus on reducing wastewater generation and enhancing sustainability.

Market Trends

Growing for convenience and packaged foods: Busy lifestyles and dual income households have increased the Food Grade Phosphoric Acid Market Size and Trends for convenience packaged foods like ready-to-eat meals. Food grade phosphoric acid helps extend shelf-life of these foods.

Rising health-consciousness: Changing consumer preferences towards health drinks and dairy products enriched with minerals is driving demand. Phosphoric acid improves acidity and solubility of minerals in these products.

Market Opportunities

Expanding into emerging countries: There is significant growth potential in developing countries in Asia Pacific and Latin America owing to rising incomes, westernization of diets and growing packaged foods industry.

New applications in functional foods: Ongoing R&D into new applications of food grade phosphoric acid in functional food & beverages enriched with vitamins & minerals is expected to create new revenue streams.

Impact of COVID-19 on Food Grade Phosphoric Acid Market

The COVID-19 pandemic has adversely impacted the growth of the food grade phosphoric acid market. During the initial lockdown periods imposed across various countries, the supply chain and logistics were disrupted significantly. This led to reduced availability of raw materials for food grade phosphoric acid manufacturers. Demand from end-use industries such as processed food also contracted due to closure of hotels, restaurants and limited operations in food processing units.

However, with relaxation in restrictions and reopening of operations, the food grade phosphoric acid market has started witnessing signs of revival. The demand from packaged and processed food segments has picked up gradually as people are relying more on ready-to-eat food products. Manufacturers are focusing on ensuring steady supplies to meet the needs of food processors. Several industries have also prioritized safety, hygiene and sanitization amid the ongoing crisis. This is augmenting the consumption of phosphoric acid for various applications such as in production of cleaning agents. The market is expected to trend upwards in the coming years backed by rising health consciousness and growing packaged food consumption trends globally.

Geographical Regions

North America accounts for the largest share of the global food grade phosphoric acid market in terms of value. The region is a major consumer driven by extensive food processing industry and established pharmaceutical sector. Within North America, the United States dominates phosphate chemicals demand arising from packed food, protein drinks and nutritional supplement products.

Asia Pacific is the fastest growing regional market for food grade phosphoric acid worldwide. Rapid urbanization, rising incomes and growth in middle-class population are fueling the demand for packaged consumer goods in countries like China, India and other ASEAN nations. This in turn is augmenting the applications of food additives including phosphoric acid across the region.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)