Food Phosphate Market size was over $1.4 billion in 2015 and expects gains at over 6% to 2024 led by increased consumption of meat and meat products.

Sellbyville, DE -- (SBWire) -- 01/31/2019 --Strong growth indicators from dairy, bakery, beverages, and meat processing industries will drive food phosphate market size. Increased awareness about protein intake amongst the health-conscious consumers coupled with rise in packaged meal products demand should drive industry growth. Food phosphate Market is set to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights, Inc.

Meat & seafood applications could surpass USD 1 billion in sales by 2024. Increasing focus on development of new products to match requirements of meal processing industry will drive the market demand. They are utilized to improve texture and flavour of stored seafood, moisture retention and preservation of nutrients.

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Potassium based food phosphate market size will witness gains of over 3.5%. It finds wide range of applications in soft drinks, processed meats and canned fish. These are used as additives in meals are more readily absorbed by body and hence are preferred for kidney patients.

Natural phosphate rock, after intensive purification is used as a feedstock for manufacturing process and finds application in fertilizers, industrial and animal feed. This factor may create supply deficit in the industry and affect food phosphate market price trend.

Germany food phosphate market size from meat processing applications will generate over USD 55 million at the end of forecast timeframe. Germany is one of the largest meal processing country in Europe. Seafood processing and dairy accounted for a larger chunk of the total meal processing output of Germany in 2014.

India food phosphate market size from dairy application will witness gains at over 4% by 2024. Processed cheese accounts for a major share of application in dairy products. It is used to prevent butter oil from separating from protein, spread ability, easy slice and to get the desired viscosity

China sodium based food phosphate market size will witness steady gains to surpass USD 100 million by 2024. They are majorly used as thickening and leavening agent for baked goods. They are also utilized to control pH of processed foods. Focus on product development by manufacturers and expansion in production capacities along with increased food consumption especially in U.S., Germany, France, China and India should drive product demand.

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Bakery applications may witness gains at 4.5%. Bakery applications majorly utilizes these product for dough improvers, as leavening agent, and as flow conditioners. Global food phosphate market share is moderately consolidated. Major market players include Haifa group, Prayon, Aditya Birla, Uniwar and Fosfa A.S Other participants include ATP group, TKI Hrashtnik, Brewcraft, Nutriscience Innovations and Saminchem.