Feed Phosphate Industry Size, Share And Forecast Till 2031
The market for feed phosphate is mostly driven by an increase in meat processing industrialization. Meat processing has been an industrialized sector, which benefits consumers financially. Industrialization of meat processing is expected to continue to be the most sought-after benefit for years to come as beef and other meat products now cost less than half what they did a century ago. Furthermore, the high threat of diseases in livestock is expected to fuel the feed phosphate market.
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The players operating in the global feed phosphate industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are The Mosiac Company, PhosAgro, EuroChem Group, Nutrien Ltd., Rotem, AB LIFOSA, Reanjoy Laboratories, Yara International ASA, Fosfitalia Group, and OCP Group.
Key findings of the study
The feed phosphate market size was valued at $2,226.6 million in 2021, and is estimated to reach $3,270.3 million by 2031, registering a CAGR of 4.0% from 2022 to 2031.
In 2021, on the basis of type, the dicalcium segment acquired $869.7 million, exhibiting 39.1% of the global market share.
In 2021, on the basis of livestock, the poultry segment acquired $860.0 million, exhibiting 38.6% of the global market share.
China was the most prominent market in Asia-Pacific in 2021, and is projected to reach $232.7 million by 2031, growing at a CAGR of 2.3% during the forecast period.
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According to feed phosphate market trends, Europe product market accounted for 22.9% share in the feed phosphate market in 2021 and is expected to maintain its share during the forecast period. Growth in production and consumption of meat and meat products are likely to contribute to the growth of the market during the forecast period. Meat is an important segment of the European agricultural sector. The EU's policies encourage animal producers to use healthy and nutrient-rich feed additives while balancing their environmental impact, driving the feed phosphate market growth
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