PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1385630
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1385630
The global feed phosphate ingredients market is on a growth trajectory, with an estimated valuation of US$ 1.8 Bn in 2024. According to a study by Fairfield Market Research, this market is expected to experience a CAGR of 4.80% and reach a substantial market size of US$ 2.5 Bn by the end of 2031. Feed phosphate ingredients play a pivotal role in providing essential phosphorous to animals, promoting optimal growth, fertility, and bone development.
Increasing Meat Production: The rising global population has led to increased demand for meat and meat products. To keep up with this demand, livestock rearing has expanded, subsequently driving the need for animal feed. Feed phosphate ingredients, known for promoting animal growth and development, are in high demand to meet nutritional requirements for optimal meat production.
Demand for High-Quality Meat Products: Consumers' preferences for high-quality meat products, organic options, and ethically sourced meat have surged. Proper animal nutrition, supported by feed phosphates, is essential for producing high-quality meat. This trend extends to dairy and natural fiber industries, where animal development influences product quality.
Monocalcium Feed Phosphate on the Rise: Monocalcium phosphate, known for its superior bioavailability, is gaining preference over dicalcium feed phosphate. Manufacturers are focusing on producing monocalcium feed phosphate to meet consumer demand for more effective animal nutrition.
Lower Feed Costs: Improved manufacturing techniques and sustainable practices have lowered feed costs, allowing consumers to invest more liberally in nutritional resources for animals. Developing countries, in particular, are seizing this opportunity to boost animal nutrition, driving growth in the feed phosphate market.
Environmental Dependency for Mining: Mining operations for feed phosphate ingredients are subject to environmental conditions. Natural calamities or disruptions in mining operations can affect the supply chain and product availability, as seen in the case of Hurricane Irma in North America in 2017.
India: Poultry Industry Dominates Consumption: India holds a significant share of over 32% in feed phosphate ingredient consumption in the South Asia and Pacific region, primarily driven by the poultry industry. Dicalcium phosphate is expected to witness rapid growth in this market.
United States: High Consumption: North America accounts for nearly 21% of the global feed phosphate ingredients market, with the United States contributing around 90% of the North American market.
The global feed phosphate ingredients market features numerous regional players. Manufacturers are investing in the latest technologies, logistics, and supply chain improvements to meet the growing demand for feed phosphate ingredients.