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Europe Feed Phosphate Market Value to Flourish $ 729.4 Mn by 2026
Published Date: 2020-11-10
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According to the Graphical Research new growth forecast report titled “Europe Feed Phosphate Market Size By Product (Monocalcium Phosphate, Tricalcium Phosphate, Dicalcium Phosphate, Ammonium Phosphates, Defluorinated Phosphate, Others), By Livestock (Poultry, Cattle, Aquaculture, Swine, Pet, Others)”, Estimated to Exceed USD 729.4 Million by 2026.
The ability of feed phosphates to accelerate animal growth and provide necessary levels of calcium and magnesium for optimum development of animals is attracting the attention of livestock and pet owners towards the use of the product. Moreover, increasing livestock farming activities in Europe due to the presence of vast pastures in the region may escalate product demand. The increasing meat demand globally has created the need for feed solutions which are capable of improving digestion, reproduction rate and bone growth in animals, which is likely to raise the demand for feed phosphates in the coming years.
Presence of a large number of feed phosphate manufacturers in Europe coupled with strategic initiatives such as acquisitions, mergers, collaboration and partnerships being adopted by players to strengthen their position in the market and provide high quality solutions to customers is expected to boost market growth. Manufacturers are also in an effort to reduce the price of feed phosphates by developing innovative production processes which reduce dependence on raw materials such as phosphate rock.
Innovation has led to the development of techniques for recovery of phosphorous which include chemical precipitation using fly ash, phosphorous removal using biological process and crystallization. Heavy investment by companies in research and development to make production of feed phosphates sustainable may accelerate market growth. However, increasing availability of substitutes such as phytase which is cost-effective and provides health benefits such as improved gut health, increased body weight and making phytic acid in grains and feed sources easily digestible may hinder growth of the market to some extent during the forecast timeframe.
Dicalcium phosphate product held the highest market share of over 55% in the Europe Feed Phosphate market. The ability of dicalcium phosphate to aid in the breeding process of animals by improving their reproductive capacity and strengthening the skeletal health of animals is expected to increase the acceptability of the product among consumers. Dicalcium phosphate product was valued at over USD 300 million in 2019. The availability of dicalcium phosphate in both anhydrous and hydrous forms increases the flexibility in its use, promoting the growth of Europe Feed Phosphate Market.
Increasing demand for meat and dairy products across the world has resulted in an increase in the number of animals being reared in farms, which may raise the demand for feed phosphate in the coming years. The rise in demand for fish and fish products in Europe owing to the increasing awareness among people regarding the importance of protein rich diet is likely to raise the demand for feed phosphate from aquaculture livestock. Increasing fish farming activities in different countries of the region is likely to fuel market growth. Europe feed phosphate market from aquaculture livestock is expected to grow at a rate of 3.5% over the review period.
Key players in the Europe feed phosphate market are AG CHEMI GROUP s.r.o., The Mosaic Company, EuroChem Ltd., Potash Corp., Phosagro Ltd., OCP Group, TIMAB (Phosphea), Rotem Turkey, Lifosa and Elixir Group. Market players are engaging in strategies such as mergers and acquisitions to increase their presence in the market. Industry players are also conducting extensive research to develop feed phosphate formulations with better quality at affordable prices to meet increasing consumer demands.