The Global Potassium Phosphate Market is forecast to reach USD 399.6 Million by 2027, according to a new report by Reports and Data. Potassium Phosphate is an odorless hygroscopic crystalline common granular potassium salt chemically bonded with phosphate ions, which is manufactured by complete neutralization of phosphoric acid with a high purity potassium hydroxide and potassium carbonate and subsequent crystallization. Potassium phosphate is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive with a distinctive E-Number of E340. The global market is growing at a substantial pace due to the growing demand for potassium phosphate in food processing applications and kidney ailments. An escalation in the number of uric acid & calcium kidney stone diseases and disorders in urination has actively uplifted the demand for potassium phosphate.
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Major companies BASF SE, Evonik Industries AG, Baker Hughes Incorporated, Huangshi Xinghua Biochemical Co., Ltd., Cargill, Incorporated, Dr. Paul Lohmann GmbH KG, Tate & Lyle PLC, Jungbunzlauer Suisse AG, American Tartaric Products, and FBC Industries.
Further key findings from the report suggest
- Potassium phosphate injection is used as a phosphate supplement which treats or prevents hypophosphatemia low phosphorus content in blood. Also, this inorganic chemical compound is used as an additive in fluid formula injections which helps control the amount of calcium in urine and body. Consuming potassium phosphate can make urine more acidic and prevents calcium kidney stones.
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 33.9% by 2027.
- Potassium phosphate acidulants are used in food & beverage applications as additives that provide a sharp taste in food items with assisting in the setting of gels to act as acidulant in beverages also. Also, Potassium phosphate sequestering agents are used in meats so that they can stabilize the inner molecule and prevent deterioration in food color & aroma.
- APAC, owing to its impressive advancement in the foods & beverages and consumer goods coupled with a remarkable rise in the healthcare & pharmaceutical industries in China and India, is expected to grow with the fastest CAGR of 7.0% throughout the forecast period and expected to retain its superiority in the market by the end of 2027.
- North America, with its high demand for potassium phosphate diuretic & sequestering agent, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 5.9% during the forecast period.
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Segments covered in the report:
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue, USD Million; 2016-2027)
- Acidulant
- Diuretic
- Buffering & Sequestering Agent
- Other Applications
End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)
- Food & Beverage Industry
- Medical & Pharmaceutical
- Personal Care Products
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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