Growing Demand for Phosphate Fertilizers to Drive Dicalcium Phosphate Market
Dicalcium Phosphate Market is projected to be worth USD 1.14 Billion by 2030, registering a CAGR of 5.60% during the forecast period (2022 - 2030), The market was valued at USD 702 Million in 2021. according to the latest research report from Market Research Future (MRFR). The Dicalcium Phosphate Market is mainly driven by the growing demand from the animal feed and agricultural fertilizer industries and is likely to exhibit steady growth over the forecast period, according to MRFR. The major drivers and restraints affecting the Dicalcium Phosphate Market are profiled in the report to provide readers a clear overview of the major factors affecting the market’s growth trajectory.
The growing demand for calcium supplements in animal feed as well as human dietary supplements is likely to be a major driver for the Dicalcium Phosphate Market. The animal feed industry has grown rapidly over the last few years as well as gaining a certain technological edge, as biotech processes have made the industry more precise and more efficient. An increasing range of dietary supplements are now added to animal feed to make it more nutritious. Calcium holds an important place among the various dietary supplements added to animal feed, as it is crucial to bone health and integrity. The growing demand to supply farm animals with better-quality animal feed is likely to lead to a growing demand from the Dicalcium Phosphate Market over the forecast period.
The growing demand for phosphate fertilizers in the agriculture sector is also likely to be a major driver for the Dicalcium Phosphate Market over the forecast period. Due to the growing demand for food, the demand has grown on the agriculture industry to maximize the yield through organic as well as inorganic means. Phosphate fertilizers rank among the most important fertilizers, as phosphorus is vital for plant growth. This has driven the demand from the Dicalcium Phosphate Market.
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Leading players in the Dicalcium Phosphate Market include Phosphea, Ecophos Group, Sudeep Pharma Pvt. Ltd., Innophos, Kemapco Arab Fertilizers and Chemical Industries Ltd., Aarti Industries Limited, Gujarat Narmada Valley Fertilizers and Chemicals Ltd., Bamni Proteins Limited, ICL, and Guizhou Zerophos Chemical Co. Ltd. Major players in the Dicalcium Phosphate Market are currently focusing on establishing a strong presence in growing markets such as China, India, Northern Africa, and Southeast Asia.
The dicalcium phosphate for cattle Market is segmented on the basis of production method, end use, and region.
By production method, the Dicalcium Phosphate Market is segmented into phosphoric acid and hydrochloric acid.
By end use, the Dicalcium Phosphate Market is segmented into food and beverages, animal feed, pharmaceuticals, agriculture, and others.
Asia Pacific is likely to hold the dominant share in the Dicalcium Phosphate Market, followed by North America, with Europe accounting for the third largest share. The Asia Pacific market for dicalcium phosphate is mainly driven by the growing agriculture and animal feed industry in the region. Growing demand for meat and dairy products has led to a growing animal husbandry industry in the region, with the industry adopting many modern solutions and techniques to stay in tune with the times. This has led to widespread adoption of dicalcium phosphate in the animal feed industry in order to make the animal feed more nutritious.
The increasing geriatric population in Asia Pacific is also likely to be a major driver for the Dicalcium Phosphate Market over the forecast period, as this has driven the demand for calcium supplements. Growing awareness about dietary supplements and the growing geriatric population in Japan, South Korea, China, and India is likely to be a major driver for the Dicalcium Phosphate Market. The Asia Pacific region accounted for close to 50% of the Dicalcium Phosphate Market in 2018.
North America is also likely to be a major regional market for the dicalcium phosphate industry due to the growing demand for phosphate fertilizers, animal feed supplements, and human dietary supplements.
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