Western Europe Feed Phosphate Market to Surpass $65.5

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Selbyville, Delaware, Feb. 23 2022 (GLOBE NEWSWIRE) — According to the latest research report from Global Market Insights Inc., the Feed phosphate market in Western Europe was valued at USD 44 Million in 2020 and is expected to reach a valuation of approximately USD 65.5 Million by 2027, registering a CAGR of 6% from 2021 to 2027. The report provides detailed sizing analysis and estimates of the market, drivers and opportunities, best winning strategies, competitive scenario, hesitant market trends and major investment pockets.

Phosphates are commonly added to various processed food products. Strong household demand for ready-to-cook and ready-to-eat meat products is likely to drive product demand. Growing use of fresh and cooked hams, chilled meat, sausages and frozen fish products is expected to drive the market demand in the coming years. Additionally, growing consumer interest in shelf stable frozen seafood as an alternative to red meat is expected to propel the market growth over the forecast period.

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Mixed phosphates are mainly used in meatballs, meat sausages, chicken, cooked and raw shrimp, surimi and fish fillets. They serve as a key additive in the production of high quality processed foods in various markets including meat, seafood and poultry. They also offer a synergistic effect in meat and seafood applications and improve the quality of the final product. Growing demand and production of poultry, processed meat and seafood in Western Europe is expected to drive the adoption of phosphate blends in the coming years. Due to these factors, the mixed phosphate products segment is expected to witness steady growth at a CAGR of approximately 6.5% throughout the analysis timeline.

Meanwhile, the Western Europe feed phosphate market share of the sodium phosphate products segment is expected to grow at around 5.5% CAGR during the forecast period. The growing adoption of sodium phosphate to regulate the pH of processed meat products like canned tuna and deli meats is expected to support segmental growth in the coming years.

The main reasons for Growth of the feed phosphate market in Western Europe:

  1. Prominent adoption in seafood.
  2. Common use in processed foods.
  3. High absorption in ready-to-eat food products.
  4. Increasing use in meat and poultry products.

Forecasts for 2027 show that the “other” segment retains its dominance:

From an applications perspective, the others segment is expected to exceed a valuation of USD 8.35 million by the end of 2027. Other applications of dietary phosphate include bacon, beef patties, roast beef and fish in canned. The boom in consumption of meat products, such as frozen turkey, beef and pork as well as canned fish, in Western Europe is expected to bolster segmental development in the coming years.

Italy will retain its first place in terms of turnover:

By country, the Italian feed phosphate market is expected to register substantial growth at around 5% CAGR during the study period. The booming domestic meat and poultry processing industry offers enormous growth potential for food grade phosphate producers operating in Italy. In addition, rising consumer spending on convenience and ready-to-eat meat and poultry products is expected to support the outlook for Italy’s feed phosphate industry.

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Impact of the COVID-19 pandemic on Feed phosphate market in Western Europe:

The COVID-19 outbreak has severely disrupted food supply chains, triggering a major socio-economic crisis in the region. Thus, the COVID-induced food supply shortage has negatively impacted the feed phosphate market in Western Europe. However, increased government focus on accelerating economic recovery, declining cases, and widespread vaccination campaigns have been supportive for market growth during the pandemic.

Main market players:

The main producers operating in the Feed phosphate industry in Western Europe include Arkema Group, Fosfa AS, ICL Specialty Products Inc., Merck KGaA, Prayon and Univar, Inc., among others.

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services. Offering syndicated and custom research reports, growth advisory and business intelligence services, Global Market Insights Inc. aims to help clients with penetrating insights and actionable market data that facilitates strategic decision-making.


        
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