(MENAFN- Ameliorate Digital Consultancy)
The global monocalcium phosphate market is poised to undergo significant growth, with its value projected to rise from US$ 4.2 billion in 2023 to US$ 6.9 billion by the conclusion of 2033, marking an impressive compound annual growth rate (CAGR) of 5%.
Monocalcium phosphate is a chemical compound characterized by the molecular formula CaH4P2O8, encompassing calcium, hydrogen, and phosphate components. This substance exhibits notable hygroscopic properties and presents itself as a white or gray powder that readily dissolves in water. The production of monocalcium phosphate involves the specialized utilization of phosphoric acid and calcite materials. This compound is formed through the intricate interactions of natural minerals, culminating in the creation of high-quality phosphoric acid, which is initially extracted, refined, and purified.
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The body uses calcium and phosphorus for a variety of processes, including DNA synthesis and bone growth and maintenance, making these minerals vital for human health. The lack of calcium and other vital elements in the human body leads to many disorders, including osteoporosis, rickets, and others.
As people's awareness of these conditions grows, calcium supplements with dicalcium phosphate are becoming widely known. Because of this, many food product manufacturers use dicalcium phosphate as a nutritional supplement to meet the dietary needs of their customers.
Key Takeaways from Market Study:
The global monocalcium phosphate market is projected to reach US$ 6.9 billion by 2033. Demand for monocalcium phosphate in China is increasing due to the rapidly developing livestock industry. High demand for monocalcium phosphate-based fertilizers in France. Ready-to-mix food product sales with monocalcium phosphate presence are increasing in the United States.
“The global monocalcium phosphate market is progressing steadily due to large-scale use of food- grade calcium phosphate in the production of bakery products , ” says a Fact analyst.
Competitive landscape:
Some of the key players in the monocalcium phosphate market are PhosAgro, EuroChem, OCP Group, Mosaic, Yara International, and Ecophos. Mergers, acquisitions, partnerships, and regional expansion are some of the marketing tactics used by leading market players.
Leading companies in the monocalcium phosphate market are also focusing on introducing cost-effective products to earn more. Manufacturers of monocalcium phosphate are consistently concentrating on making significant investments in R&D projects to find novel formulations and low-cost manufacturing technologies.
In February 2022, EuroChem Group successfully acquired the Brazilian phosphate project Serra do Salitre. This acquisition increased phosphate development and is expected to boost animal feed phosphate sales in the coming years.
Recent Market Developments:
The Mosaic Company recently acquired Vale Fertilizantes, a Brazilian fertiliser business with five phosphate mines, expanding its dominance in the feed phosphate field in Brazil. Phosphea introduced HumIPHORA in April 2022, a ground-breaking innovation in the field of phosphate. HumIPHORA offers high-quality phosphorus and aids in the better utilisation of other nutrients, particularly phosphorus derived from plants.
Key Segments of Monocalcium Phosphate Industry Research:
· By Form :
· By Application :
Fertilizers Food Production Beverages Animal Feed
· By Functional Use :
Additives Leavening Agents Acid Components
· By Region :
North America Latin America Europe East Asia South Asia & Oceania MEA
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Key Questions Covered in the Monocalcium Phosphate Market Report:
What will be the estimated size of the Market in 2023? At what rate will the global Monocalcium Phosphate sales grow until 2033? Which are the factors hampering the Monocalcium Phosphate demand? Which region will spearhead the growth in the global industry during 2023-2033? Which are the factors driving sales in the Monocalcium Phosphate Market during the forecast period?
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