Print Posted on 01/30/2024 in Category 1

Potassium Phosphate Market Growth Statistics, Size Estimation, Emerging Trends, Outlook to 2027

Overview of the Potassium Phosphate Market

The Potassium Phosphate market is expected to witness a Compound Annual Growth Rate (CAGR) of 4.9% in terms of value, spanning the period from 2019 to a projected USD 399.6 Million by 2027. This crystalline potassium salt, bonded with phosphate ions, is produced by fully neutralizing Phosphoric Acid with high-purity Potassium Hydroxide and Potassium Carbonate. The subsequent crystallization process yields an odorless and hygroscopic substance.

Recognized as safe by the European Union (EU) and the European Free Trade Association (EFTA), Potassium Phosphate is assigned the E-Number E340. It adheres to food-grade and pharmaceutical standards as prescribed by regulatory bodies such as the Food Chemicals Codex, the United States Pharmacopeia, and others.

The global market is witnessing significant growth, driven by increasing demand for potassium phosphate in food processing and kidney-related applications. The rise in uric acid and calcium kidney stone diseases, along with disorders in urination, has fueled the demand for potassium phosphate. The expansion of the food and beverage industries has directly impacted the market, with potassium phosphate being utilized in food-grade applications for dietary supplements, laxatives, electrolyte-replacement purposes, and buffering.

The Asia Pacific region dominated the market in 2018, holding the highest market share. With a substantial demand for potassium phosphate in food and beverage applications and robust growth in the healthcare sector, the Asia Pacific region is expected to exhibit the fastest CAGR of 7.0% throughout the forecast period. China and India are notable contributors to the region's market.

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Companies Considered and Profiled-

BASF SE,
Evonik Industries AG,
Baker Hughes Incorporated,
Huangshi Xinghua Biochemical Co., Ltd.,
Cargill,
Incorporated,
Paul Lohmann GmbH KG,
Tate & Lyle PLC,
Jungbunzlauer Suisse AG,
American Tartaric Products,
FBC Industries,

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Key Report Highlights

Comprehensive statistics for the global potassium phosphate market from 2016 to 2027, with historical data for 2016 and 2017, considering 2018 as the base year and forecasting from 2019 to 2027.
Estimation of market size, historical and forecasted trend analysis.
Analysis of various alternatives available and statistical examination of individual segment shares.
Regulatory frameworks in each region, upcoming research and application outlook, ongoing developments, and regional prevalence mapping.
Demand and Supply GAP Analysis, regional competitors' pricing strategy, and market share analysis of top industry players.
Strategic recommendations for new entrants, market trends (drivers, constraints, opportunities, threats, challenges), investment opportunities, and recommendations.
Strategic recommendations for key business segments based on market estimations.
Competitive landscape mapping key common trends and company profiling of industry players, including strategies, financials, and recent developments.

Key Trends in the Potassium Phosphate Market

Significant growth in industries requiring substantial potassium phosphate, especially in manufacturing and final processing.
Crucial applications of potassium phosphate in kidney-related diseases, influencing blood and urine pH levels.
Increasing emphasis on research and development activities for various applications of potassium phosphate, particularly in bone regeneration and healthcare.
Asia Pacific's remarkable advancement in food and beverages, consumer goods, and pharmaceutical industries, positioning it as a global leader in both chemical manufacturing and consumer demand.

Market Dynamics

Side effects of potassium phosphate, including nausea, headache, dizziness, diarrhea, vomiting, and stomach pain, may impact market growth.
Continuous focus on R&D activities for various applications, with a rising emphasis on bone regeneration and healthcare applications.

Market-O-Nomics

The global potassium phosphate market valuation was USD 271.3 million in 2018, projected to reach USD 399.6 million by 2027.
In the end-use verticals segment, the medical and pharmaceutical sub-segment is expected to grow at a CAGR of 5.3% during the forecast period.
The online retailing sub-segment is forecasted to achieve the highest growth of 7.1% from 2019 to 2027, driven by a global shift from offline to online selling platforms.
The buffering and sequestering agent sub-segment is anticipated to grow at a CAGR of 3.7% during the forecast period.
The diuretic sub-segment is projected to attain a CAGR of 5.8% and accumulate 28.1% by 2027.

Segments Covered in the Report

Distribution Channel: Online Retailing, Offline Retailing
Application: Acidulant, Diuretic, Buffering & Sequestering Agent, Other Applications
End-Use Verticals: Food & Beverage Industry, Medical & Pharmaceutical, Personal Care Products, Others
Region: North America (U.S.), Europe (U.K., France), Asia Pacific (China, India, Japan), MEA, Latin America (Brazil)

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In summary, the potassium phosphate market exhibits promising growth prospects, driven by its diverse applications, increasing demand from key industries, and a focus on research and development. The Asia Pacific region, with its significant industrialization and urbanization, stands out as a key player in the market. However, potential side effects and continuous R&D efforts are factors influencing the market dynamics.

Frequently Asked Questions (FAQ) - Potassium Phosphate Market

What is the projected growth rate of the Potassium Phosphate market?

The Potassium Phosphate market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 4.9% in terms of value, reaching USD 399.6 Million by 2027.

How is Potassium Phosphate manufactured?

Potassium Phosphate is produced through the complete neutralization of Phosphoric Acid with high-purity Potassium Hydroxide and Potassium Carbonate, followed by crystallization. The resulting product is an odorless hygroscopic crystalline potassium salt.

Is Potassium Phosphate safe for consumption?

Potassium Phosphate is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive. It carries a distinctive E-Number of E340. It also complies with food-grade and pharmaceutical standards set by regulatory bodies such as the Food Chemicals Codex and the United States Pharmacopeia.

What are the key drivers for the growth of the Potassium Phosphate market?

The market is experiencing substantial growth due to increasing demand in food processing applications and kidney-related ailments. Factors include the rise in uric acid and calcium kidney stone diseases, disorders in urination, and the expansion of the food and beverage industries.

Which region holds the highest market share in the Potassium Phosphate market?

Asia Pacific held the highest market share in 2018, and it is expected to continue its dominance, growing at the fastest CAGR of 7.0% throughout the forecast period. China and India are significant contributors to the region's market.

What are the potential side effects of Potassium Phosphate?

Side effects of Potassium Phosphate may include nausea, headache, dizziness, diarrhea, vomiting, and stomach pain. These adverse effects could impact the market growth.

What are the key trends in the Potassium Phosphate market?

Key trends include significant growth in industries requiring potassium phosphate, crucial applications in kidney-related diseases, emphasis on research and development activities, and Asia Pacific's dominance in chemical manufacturing and consumer demand.

Who are the major players in the Potassium Phosphate market?

Major companies in the market include 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, among others.

What is the market valuation and forecast for the Potassium Phosphate market?

The global Potassium Phosphate market was valued at USD 271.3 million in 2018, and it is forecasted to reach USD 399.6 million by 2027.

Which end-use vertical is predicted to have the highest growth in the Potassium Phosphate market?

The medical and pharmaceutical end-use vertical sub-segment is predicted to grow at a CAGR of 5.3% during the forecast period.

In which distribution channels are potassium phosphate products available?

Potassium phosphate products are available through both online retailing and offline retailing channels.

What are the main application segments of potassium phosphate?

The main application segments include acidulant, diuretic, buffering & sequestering agent, and other applications.

Which region is expected to grow with the fastest CAGR in the forecast period?

The Asia Pacific region is expected to grow with the fastest CAGR of 7.0% throughout the forecast period and is projected to retain its superiority in the market by the end of 2027.

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