Increasing demand for sodium phosphate in online retails especially in the emerging nations coupled with high investments in RD of sodium phosphate, are fueling the market growth.
Sodium Phosphate Market Size – USD 347.4 Million in 2018, Growth - CAGR of 4.7%, Trends – Increase in demand for sodium phosphate in foods beverages.
The Global Sodium Phosphate Market is forecast to reach USD 503.0 Million by 2027, according to a new report by Reports and Data. Sodium phosphate is an odorless hygroscopic crystalline common granular salt of sodium, chemically bonded with phosphate ions, which is manufactured by complete neutralization of phosphoric acid with a high purity sodium hydroxide and sodium carbonate and subsequent crystallization. Phosphate anions can form three different condensed forms of sodium phosphate such as di-anions, tri-anions, and tetra-anions. The global market is growing at a substantial pace due to the growing demand for sodium phosphate in food processing applications such as thickening agent, leavening agent, emulsifying agent, pH balancing stabilizer, and others. An escalation in the number of gastrointestinal (GI) diseases has actively uplifted the demand for sodium phosphate due to its wide usage in such diseases.
Reports and Data's Global Sodium Phosphate Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Key Companies: PhosAgro, The Mosaic Company, Ma'aden, Agrium Inc., Hawkins Inc., EuroChem, The Potash Corporation of Saskatchewan, AksharChem, Innophos Holdings, Inc., and Israel Chemicals Ltd., among others.
The Sodium Phosphate market investigation report assesses the global market for the Sodium Phosphate industry and provides revenue and capability forecasts for the projected period. The factors that drive the industry's growth are highlighted in the report. The report divides the Sodium Phosphate market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Further key findings from the report suggest:
- Sodium Phosphate injection is used as a phosphate supplement which treats or prevents hypophosphatemia low phosphorus content in blood. Also, before the colonoscopy test, this chemical is utilized in order to empty or clean the colon that is large intestines or bowel, which helps produce a clear view of the colon walls. Medical pharmaceutical sub-segment is forecasted to get a CAGR of 5.3% throughout the period 2019 to 2027.
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing sales channel. The online retailing is expected to gain a market share of 33.9% by 2027.
- For the foods beverages such as deli meat, canned tuna, processed meat, baked foods, fast foods, and other processed food items this chemical substance has vast use in the final processing and manufacturing. Sodium phosphate is used in stabilizing texture of the processed foods. It helps bacon moist or deli meats moist and inhibit spoilage. Processed food stabilizing sub-segment is growing at a CAGR of 5.8% during the forecast period.
- European region is forecasted to witness significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 3.2% during the forecast period. The Netherlands holds some of the most prominent players in this region.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Sodium Phosphate market is segmented into:
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue, USD Million; 2016-2027)
- Application
- Leavening Emulsifying Agent
- Processed Food Stabilizing
- pH Balance Saline Laxatives
- Other Applications
End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)
- Food Beverage Industry
- Medical Pharmaceutical
- Personal Care Water Treatment
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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