Feed Phosphates Market size is estimated to reach $3.18 billion by 2025 and is poised to grow at a CAGR of 3.95% during the forecast period 2020-2025. Feed phosphates are inorganic salts of phosphoric acid extracted from phosphate rock. These phosphates are essential nutrients in animal diets, ensuring optimal growth, improving bowel function, fertility, and bone development. Feed phosphates are provided to animals in conjunction with calcium and magnesium, which helps the growth and development of animals. Phosphate feed improves the nutritional value of feed and improves the quality of meat and dairy products. Factors that drive the growth of feed phosphate are the increased consumption of meat worldwide, the increased demand for milk and other dairy products, the processing of meat processing, and the increase in disposable income.
- Geographically, the Asia Pacific area is poised to see extraordinary development owing to the rapid growth in pork and poultry industries and is set to continue during the forecast period (2020-2025).
- The global demand for Feed Phosphates is increasing significantly owing to the growing consumption of meat.
- The rising cost of raw materials and global scarcity of phosphate reserves are acting as a challenge in the market.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Feed Phosphates Market report.
By Type – Segment Analysis
Based on type, the Monocalcium Phosphate segment registers for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast period (2020-2025). The high content of calcium contained in the monocalcium phosphates enhances functions such as digestibility of substances, normal functioning of nerves, muscle and heart, skeletal development and formation of strong bones.
By Livestock – Segment Analysis
The global Feed Phosphates market based on Mode of Livestock, can be further segmented into Poultry, Swine, Ruminants, Aquaculture, and other. The Poultry segment registers for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period owing to the increasing poultry production on a global level. Poultry requires relatively large amounts of calcium and phosphorus for natural growth and skeletal development, which gives a boost to the consumption of phosphate feed.
By Geography – Segment Analysis
Asia Pacific registers for the highest revenue in 2019 and is set to grow at highest CAGR over the forecast period (2020-2025) owing to increase in poultry and pork industries majorly in India and China. Besides Asia Pacific, Europe is estimated to grow its demand during the forecast period owing to increase in demand for meat and dairy products, stringent regulatory policies for the feed product approvals, and increase the production of aquatics in the region.
Drivers – Feed Phosphates Market
- Increased Meat Consumption and Development of Livestock
The global feed phosphate market is growing with a continuous increase in demand for meat and meat products. Phosphate feed, with its various applications, meets the population’s need by feeding the animals with the best inputs for their feeding. It helps animals in weight-gain during their growth stages.
Challenges – Feed Phosphates Market
The high cost of phosphate salts, such as monocalcium and Dicalcium phosphate, has increased the use of alternatives such as Phytase. Diversions in the consumption and usage of feed phosphates owing to the advent of substitutes are estimated to disrupt the market growth during the forecast period 2020-2025.
Feed Phosphates Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Feed Phosphates Market. Key companies of this market The Mosaic Company, Phosphea, Nutrien Ltd, OCP Group, Yara International ASA, EuroChem Group AG, PhosAgro, Ecophos Group, Fosfitalia Group, J. R. Simplot Company.
- In April 2020, Nutrien announced that it has entered into a definitive agreement to purchase 100 percent of the equity of the Tec Agro Group to build their platform in Brazilian agricultural market.
- In August 2019, Yara International ASA completed its acquisition with Nel to produce carbon free hydrogen for fertilizer production.