(MENAFN- Straits Research) Monocalcium phosphate (MCP) is a chemical compound with a Ca(H2PO4)2 formula. Due to its vital features and applications, it is widely used in various industries, including agriculture, food production, and pharmaceuticals.
Monocalcium phosphate promotes the growth of livestock and poultry teeth, bones, and weight. The increased demand for dietary supplements, different applications such as bakery products and agriculture, and rising demand for canned food are driving the monocalcium phosphate market. Furthermore, monocalcium phosphate's health benefits attract a huge customer base, and the Food and Drug Administration's certification of it as a safe additive allows enterprises to employ it in industrial processes, strengthening the monocalcium phosphate market. The monocalcium phosphate market share is expected to grow significantly during the forecast period due to its health benefits in human and animal food consumption.
Market Dynamics
Growing Population and Food Demand Drives the Global Market
Food demand rises as the global population grows. Monocalcium phosphate is used as a food additive to boost the nutritional value of baked goods and beverages to meet this requirement. The world population is growing steadily. World population to reach 8 billion in 2023. UN estimates the world's population will reach 9.7 billion by 2050 and 10.9 billion by 2100. Population increases put pressure on food production systems to provide enough nutritious food. World population growth increases food consumption.
Food and beverage companies employ monocalcium phosphate as a leavening ingredient, mineral supplement, and pH regulator. The global monocalcium phosphate market trend benefits from population increase and nutritious and safe food requirements. These demands are met by monocalcium phosphate, a key element in food production projected to increase as the global population expands.
Rising Demand for Animal Protein Creates Tremendous Opportunities
Rising incomes and fast urbanization in emerging economies have increased meat and dairy consumption. Increased disposable money means increased animal protein consumption in these places. China has witnessed meat consumption rise due to its growing middle class. Between the 1990s and the early 2010s, China's per capita meat consumption more than doubled, according to FAO. Monocalcium phosphate is widely used in chicken feed. Global poultry output, including broilers and layers, has expanded due to chicken meat and egg appeal.
Urbanization, income growth, and changing diets drive the global need for animal protein, creating huge opportunities for the monocalcium phosphate industry. This trend may allow suppliers to sell high-quality, nutritionally balanced items to the growing livestock industry and ensure animal health and productivity.
Regional Insights
Asia-Pacific has the biggest monocalcium phosphate market share. Demand for bio-fertilizers from agriculture is likely to boost the Asia Pacific monocalcium phosphate market during the forecast period. The calcium phosphate market is also predicted to rise due to rising demand for nutritious meals. Animal feed demand will rise in Asia Pacific as animal numbers rise. The Asia-Pacific animal feed industry will likely dominate the market due to its large client base, particularly in China and India. The Chinese complicated feed market is growing quickly. Alltech found that China's feed production increased by tonnage last year (2022). China is the world's largest feed producer, generating 261.42 million metric tonnes. The USA ranks second with 231.54 million metric tonnes in 2021, followed by Brazil (80.09 million) and India (44.05 million).
Additionally, India had the highest cow and buffalo population growth rate in 2022, according to the Department of Animal Husbandry and Dairy India. The largest producers of milk and buffalo meat, second in goat meat, and third in poultry. India will generate over 122.04 billion chicken eggs in 2021. Monocalcium Phosphate market insights say breed improvement, a limited organic feed market, and rising dairy production drive demand.
North America holds a significant market share. The U.S., Canada, and Mexico have a large share of the monocalcium phosphate market. Industrialization, a strong food and beverage sector, and a large agricultural and cattle economy characterize the market. US bakeries utilize monocalcium phosphate to add volume and texture to bread and cakes. This is normal in the region's booming baking business. North America has a thriving agriculture business that produces several crops and cattle. Monocalcium phosphate supplies essential minerals for livestock growth and health in animal feed. The livestock industry is vital, as the USDA predicts USD 258.5 billion in cash sales from livestock and animal products in 2022. Manufacturers can meet corporate and customer needs while handling compliance and competition in the sector.
Key Highlights
The global monocalcium phosphate market size was valued at
USD 1.7 billion in 2022 and is projected to reach
USD 2.4 billion by 2031 , registering a
CAGR of 4.9%
during the forecast period (2023-2031). Powder and liquid are the two types of physical formations. The powdered form dominates the market and is predicted to rise significantly throughout the forecast period.
By application, the section can be divided into Fertilizers, Food Production, Beverages, Animal Feed, and Bakery. Fertilizers held the greatest market share.
The market is divided into three functional segments: additive, leavening agent, and acid component. The most prevalent functional application in the market is additives. Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific dominates the market and is expected to grow at 5.8% CAGR during the forecast period.
Competitive Landscape
The key players in the global Monocalcium Phosphate market are PhosAgro, OCP Group, Mosaic, Yara International, Ecophos, Quimpac SA Business, Fosfitalia, CKL Africa Ltd., AG Chemi Group, EuroChem, Intersac, Arevin, Pangoo International Limited, Polifar Group Limited, Nordfeed, and Foodchem International Corporation.
Market News
In August 2023, The Mosaic Company announced the launch of the Mosaic Biosciences platform, a global initiative to bring cutting-edge research and innovation to agriculture. In August 2023, Yara Germany, Bindewald and Gutting Milling Group, and Harry-Brot signed an agreement to use green fertilizers to decarbonize cereal production in Germany.
Global Monocalcium Phosphate Market: Segmentation
By physical forms
By Applications
Fertilizers Food Production Beverages Animal Feed Bakery Other
By Functional Use
Additive Leavening agent Acid component
By Region
North America Asia-Pacific Europe The Middle East and Africa Latin America
MENAFN06122023004597010339ID1107545515
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.