Feed Phosphate Market to Grow Exponentially Over 2016-2021
Posted by MDFtrends on October 6th, 2017
Global Feed Phosphate Market was worth USD 5.153 billion in 2016 and is expected to reach USD 5.974 billion by 2021 with a CAGR of 3.0 %.
Phosphate is a vital nutrient to the animals for optimal growth, fertility, and bone development. But they couldn’t produce enough phosphate on their own and hence it is added to the animal feed to deliver required nutritional content. There are various advantages related to the phosphate feed usage which includes meat quality improvement, nutritional quality enhancement, and ease in feed digestibility.
Rising consumption of meat, structuring of pork and poultry industry, developing livestock during their growth stages are some of the factors driving the market. However, increasing expense of raw materials, Stringent regulations and less availability of phosphate reserves are some of the major factors restraining the market.
Feed Phosphate market is segmented based on Type and Livestock. Based on Type, market is segmented into Monocalcium Phosphate, Dicalcium Phosphate, Mono-Dicalcium Phosphate, Tricalcium Phosphate, Defluorinated Phosphate and Others. Based on Livestock, market is further segmented into Swine, Poultry, Cattle, Aquatic Animals, Others.
Geographically, market is further segmented into Europe, North America, Asia-Pacific, Latin America and Middle East and Africa. Asia-Pacific market dominates the market globally with the highest market share as well as highest CAGR. This is due to the presence of developing countries like China and India and growing demand for animal products. China accounted for around 23.5 % of the global share. The market in Europe is highly regulated with administrative bodies like European Chemical Industry Council, European Food Safety Authority. Latin America is expected to show significant growth during forecast period.
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The key players in the market include The Mosaic Company, EuroChem Ltd., Potash Corp., PhosAgro, and OCP Group.
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