Feed Phosphate Market to cross $4.5bn by 2024

Feed Phosphate Market size is set to surpass USD 4.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Feed Phosphate Industry was over USD 3.5 Billion in 2017 and industry expects consumption above 11 million tons by 2024

Rapid spurge in the middle-class population is propagating the need for high-quality meat products in China, India and Australia. The middle-class population is set to surpass over 4.5 billion by 2022 pertaining to improving economic conditions and rising living standards. Meat products are rich sources of protein, vitamins and minerals which are essential for performing certain bodily functions along with enhancing immunity thereby positively influencing feed phosphate market growth.

These products are added to the commercial animal feed and used as additives for providing essential nutrients to animals including phosphorus and calcium. Rising nutrition requirements for poultry production along with favorable government standards will foster the feed phosphate industry growth.

The products help in maintaining osmotic pressure, buffer capacity and acid-base balance along with bone development and providing overall nutrition. Phosphorus supply is considered as a crucial element in animals thereby facilitating their metabolism, immunity and reproductive systems. According to The National Research Council in the U.S., the largest number of deaths occur due to nutritional deficiencies in the poultry species. Additionally, these deficiencies are also likely to cause diseases such as rickets which further reduces the economic and reproductive capacities in animals.

North America feed phosphate market driven by U.S and Canada is projected to surpass USD 1 Billion by 2024 owing to rising working population which demand for more convenience and processed foods which are mainly meat-based such including beef and work. An average of 55.6 pounds of beef was consumed by Americans in 2016 owing to availability of these products at lower costs and high economic conditions. Moreover, the increase in meat-intense diets is further supporting the market growth. Feed phosphate products added in the diets of livestock helps in enhancing the quality of meat along with improving their economic productivity and maintaining the overall health and wellness thereby stimulating feed phosphate market growth.

Feed phosphate industry size from Dicalcium phosphate should exceed USD 2.5 Billion over the projected timeframe. DCP products are added as supplements in animal food and the bioavailability of these products are much higher than other counterparts making it a valuable addition to animal food and enhancing overall industry growth. These products help in preventing various metabolic diseases including ketosis, milk fever and hematuria which occurs in the caving period. Emerging livestock diseases has increased the need of proper nutrition in animal food which may drive the feed phosphate industry growth.

Phosphoric acid and phosphate rock are the major raw materials which are used in the manufacturing process of feed phosphate industry. The limited availability of the phosphorus in nature and sustainability issues will be a major challenge and may pose high threat for the feed phosphate industry growth.

Feed phosphate market in Germany is likely to register significant growth close to 3% during the projected period. Rise in disease outbreaks in livestock animals including bird flu, swine flu and mouth and foot infections has increased quality and safety concerns amongst consumers. Increasing demand for pork, poultry and other meat products is highly fulfilled by proper feeding of animals along with sufficient calcium and phosphorus supply for overall growth. These products contain a good amount of phosphorous required in diets of animals which is further accelerating feed phosphate market growth.

India feed phosphate market size is likely to register significant growth at over 3.5% over the forecast period. Growing demand for meat and related products owing to rapid population increase and improving economic conditions are likely to enhance the market growth. Additionally, the young population in the country is majorly opting out of vegetarianism and increasing their meat consumption while dining out.

The Mosaic Company, Eurochem, OCP Group, Fosfitalia Group, Elixir, Yara International, Reanjoy, Phosagro, Potashcorp, Wengfu, Malaysian Phosphate Additives and Lifosa are the prominent industry participants in the feed phosphate market. Companies are expanding their regional reach by forming joint venture and partnerships along with investing heavily in R&D activities to meet the government standards which is further enhancing feed phosphate industry size.

Read More: https://www.gminsights.com/industry-analysis/feed-phosphate-market