Feed Phosphates Market Worth $2.8 Billion by 2024, at a CAGR of 3.7%

MarketsandMarkets
The feed phosphates market was valued at USD 2.18 billion in 2017; this is projected to reach 2.80 billion by 2024, at a CAGR of 3.7% during the forecast period.

The report Feed Phosphates Market by Type (Dicalcium, Monocalcium, Mono-dicalcium, Defluorinated, and Tricalcium), Livestock (Ruminants, Swine, Poultry, and Aquaculture), Form (Powder and Granule), and Region – Global Forecast to 2024″, with the increasing inclination toward protein-rich diets, consumers prefer spending on meat and poultry products. However, growing concerns of consumers about food safety discourage their purchase decisions. Increasing concerns about food safety have encouraged rearers to utilize feed phosphate as it improves the health of livestock and meat quality. The use of feed phosphate also enhances bone development, fertility, and gut functionality of animals. According to MarketsandMarkets, the global feed phosphates market is projected to be worth USD 2.8 billion by 2024, recording a CAGR of 3.7%.

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The Dicalcium Phosphate Segment To Be a Leading Revenue Generator in the Feed Phosphates Market

As dicalcium phosphate is nutrition-dense for livestock, manufacturers include it in various feed products. Consumption of dicalcium phosphate helps in regulating energy metabolism and maintaining sufficient dietary levels of calcium and phosphate in animals. In addition, rearers prefer utilizing these as they are offered at affordable prices and have high bioavailability of phosphorous. On account of these factors, the dicalcium phosphate segment is projected to be a major revenue contributor to the market, in terms of value, during the forecast period.

The Demand for Feed Phosphates To Remain Concentrated in the Poultry Segment During the Forecast Period

To offer improved meat quality, rearers are diverting their expenditure to various mineral supplements that enhance their growth. Of the various minerals required by poultry, few are met mainly by including natural feedstuff in their diets. Rearers are providing diets rich in phosphate and calcium to poultry to strengthen their bone development.

Besides dicalcium phosphate, rearers are also including tricalcium phosphate and defluorinated phosphate to supplement minerals such as phosphate and calcium in their diets. Due to the increasing requirement for sufficient minerals coupled with the high demand for meat & poultry products across regions, the need for feed phosphates is projected to remain concentrated in the poultry segment throughout the forecast period.

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The Feed Phosphates Market Projected To Record the Fastest Growth in South America Through 2024

With the increasing inclination toward protein-rich diets and a surge in demand for meat products, the demand for feed phosphates is projected to remain high in South America. In addition, the development of the animal husbandry sector in South American countries, particularly in Argentina and Brazil, is gaining pace, which is projected to reflect positively on the growth of the market in this region.

Leading players operating in the feed phosphates market are investing in strategies such as expansions, mergers & acquisitions, and joint ventures & agreements. Key players present in this market include The Mosaic Company (US), OCP Group (Morocco), Phosphea (France), Yara International ASA (Norway), and Nutrien Ltd. (Canada).

Overall, the growth of the feed phosphate market is mainly bound to the growing preference for safe consumption of food, which is influenced by the increasing demand for meat products in the food & beverage industry, as an essential ingredient. In addition, the market is projected to witness growth in parallel to the development in the livestock industry. Leading players in the market are utilizing feed phosphate to offer high-quality meat and expand their customer base across regions. These factors together are likely to contribute significantly to market growth during the forecast period.

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