The feed phosphate market reached the valuation of nearly US$?1.5 billion in 2018 and is likely to experience steady growth through 2028.
This is according to the Global Feed Phosphate Market Research Report, published by Persistence Market Research (PMR).
Phosphorous is a micronutrient that is needed by almost all life forms for the optimal growth and development of the organism within an adequate time frame. This phosphorous is provided to animals through animal feed in the form of feed phosphates. Feed phosphates are the inorganic salts of phosphoric acid. Phosphates are mined from rocks, and inorganic phosphates are then synthesized artificially and are much more bioavailable for animals than the natural sources they can be derived through. This virtue of higher bioavailability is the prominent factor as to why feed phosphates are chosen over natural feed elements for the optimal growth, fertility, and bone development of an animal.
The different types of feed phosphates analysed in the report are:
• Dicalcium Phosphate
• Monocalcium Phosphate
• Tricalcium Phosphate
• Defluorinated Phosphate
This market study suggests that the feed phosphate market value will expand at over 4% CAGR between 2018 and 2028. By species, poultry is projected to remain dominant in the global feed phosphate market, with a considerably high market share of more than 43% at present.
The demand for feed phosphates has further increased due to the recent trend of an increase in the demand for high-quality meat products. The upkeep of animals to produce high-quality meat products is dependent upon proper nutrition, which will drive the demand for feed phosphates even higher. Apart from food preferences, the dairy and natural animal-derived fibre industry is also hugely dependent upon the proper development of animals to obtain good quality products. Feed phosphates thus play an important role in the dairy and natural fibre markets as well. Regarding the global players on the feed phosphate market, we see that North America and East Asia prove to be prominent regions in terms of market value and volume. However, East Asia and South Asia are regions that hold the most promising opportunities for growth, with CAGRs of 4.0% and 3.3%, respectively. North America, especially, has displayed a pattern of low production of dicalcium feed phosphate, and higher production of monocalcium phosphate. China, on the other hand, has displayed a continued pattern of high production of all types of feed phosphates.
Some of the key players included in the feed phosphate market report are Phosphea, Nutrien Ltd, The Mosiac Company, Eurochem Group AG, J.R. Simplot Company, Phosagro, OCP Group, Yara International ASA, Ecophos Group, PotashCorp, etc. Especially in developing countries, where the budget for the agricultural community is tight, feed phosphate market participants are likely to spot multiple opportunities. This sets East Asia, South Asia, and Latin America to be the regions with the most opportunities for growth in the feed phosphate market.
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