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Global Food Grade Phosphoric Acid Market Research Report 2023-2028:
According to the latest report by IMARC Group, titled " FoodGradePhosphoricAcidMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityand Forecast2023-2028
," the global food grade phosphoric acid market size reached US$ 2.3 Billion in 2022.
Food grade phosphoric acid is widely used for pH adjustment and control in various food and beverages. It is generally characterized by an odorless inorganic acid with a colorless formulation that is prepared from mineral phosphorus, which is usually safe for human consumption. Additionally, it is extensively utilized in the preparation of bakery food items, carbonated drinks and condiments.
As a result, it is used as a food preservative agent that helps in preventing the growth of bacteria and molds while extending the shelf life of food items. Due to the easy product availability through offline and online organized retail channels, it is gaining widespread prominence among individuals.
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The global market is primarily driven by significant growth in the food and beverages industry. Moreover, the changing dietary patterns of the masses and the inflating disposable income levels are creating a positive outlook for the market. In line with this, the rising preference for convenience food items due to the busy lifestyle and hectic schedules led by working professionals is providing an impetus to the market growth. Furthermore, the increasing consumption of carbonated drinks, bottled coffee and flavored water among individuals is further propelling the market growth. Additionally, numerous leading players are heavily investing in launching frozen food products, which is considered to be a major growth-inducing factor. Furthermore, the rising utilization of food grade phosphoric acid for removing surface rust from metals and milkstone deposits is positively influencing the market growth. Other factors, including the widespread integration of automation in the production process, continuous product innovations and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth.
Looking forward, IMARC Group expects the market to reach a value of US$ 3.0 Billion by 2028, exhibitingataCAGRof3.86%during2023-2028.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/food-grade-phosphoric-acid-market
Key Market Segmentation
The research report includes the following segments:
Breakup by Product Type:
• Food Grade 75%
• Food Grade 80%
• Food Grade 85%
• Others
Breakup by Application:
• Food Preservation
• Beverages Production
• Metal Treatment
• Sugar Refining
• Others
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Competitive Landscape with Key Players:
• Arkema S.A
• Brenntag SE
• Emco Dyestuff Pvt Ltd
• Grasim Industries Limited (Aditya Birla Management Corporation Ltd.)
• ICL Group Ltd
• Innophos Inc
• Nutrien Ltd
• OCP Group
• Spectrum Laboratory Products Inc
• The Mosaic Company
• Vinipul Inorganics Private Limited
1. Whatwasthesizeoftheglobalfoodgradephosphoricacidmarketin2022?
2. Whatistheexpectedgrowthrateoftheglobalfoodgradephosphoric acidmarketduring20232028?
3. Whatarethekeyfactorsdrivingtheglobalfoodgradephosphoricacidmarket?
4. WhathasbeentheimpactofCOVID-19ontheglobalfoodgradephosphoricacidmarket?
5. Whatisthebreakupoftheglobalfoodgradephosphoricacidmarketbasedontheapplication?
6. Whatarethekeyregionsintheglobalfoodgradephosphoricacidmarket?
7. Whoarethekeyplayers/companiesintheglobalfoodgradephosphoricacidmarket?
Clickheretovisitthecompletetableofcontentwithlistoffiguresandtables: https://www.imarcgroup.com/food-grade-phosphoric-acid-market/toc
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