The global sodium phosphate market is projected to garner a revenue of about USD 666.8 million by 2032, up from USD 412.3 million in 2022. The demand for sodium phosphate is likely to move forward with a CAGR of 4.9% during the forecast period.
The demand for sodium phosphate is on the rise as it has a wide range of applications, primarily in food & beverages and water treatment. Sodium phosphate has been increasingly used as thickening agents, emulsifiers, and leaving agents for baked goods, thereby surging sales, resulting in the expansion of market during the forecast period.
| Report Attribute | Details |
|---|---|
| Sodium Phosphate Market Value (2022) | USD 412.3 Million |
| Sodium Phosphate Market Anticipated Forecast Value (2032) | USD 666.8 Million |
| Sodium Phosphate Market Projected Growth Rate (2022 to 2032) | 4.9% |
Furthermore, sodium phosphate is used to regulate the pH of processed foods and the market trends are also shaped by the usage of the compound in medicines such as for constipation and to make the bowel for medical processes.
The sodium phosphate market growth is bolstered by hair conditioners, shampoos, oral hygiene products, hair dyes, fragrances, bath products, various types of makeup, and other skincare products consisting this compound, owing to their unique cleansing properties.
Due to sodium phosphate widespread use in GI disorders, the prevalence of GI disorders has actively increased demand for sodium phosphate and, in turn, the sales of sodium phosphate across the world.
Since sodium phosphate is used in food-grade applications for laxatives, buffering, and electrolyte replacement among others, the ongoing growth of the food and beverage industries has had a direct impact on the market’s growth. Moreover, it is anticipated that a significant portion of the market growth arises from an elevated rise in personal medication spending.
Along with their shifting food preferences, improvements in the purchasing power is also likely to expand the sodium phosphate market size during the forecast period. The above-mentioned factors together contribute to the rising demand for the product in the marketplace, where sales of sodium phosphate have surged as a result of improving crop production.
Furthermore, steel parts are coated with sodium phosphate to prevent corrosion and serve as a base for subsequent coatings or painting, widening applications of the compound, thereby positively influencing the sodium phosphate market on the whole.
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The growing demand for sodium phosphate is boosted by the usage of the compound as food additives. The popularity of sodium phosphate is rising as these have the properties such as buffering sequestration and water retention capability.
Another factor, driving the sodium phosphate market is the increase in demand from the developing countries, given the changing customer preference. In addition to this, the increasing spending capacity of individual consumers in these regions is also likely to upkeep the growth momentum of the sodium phosphate market during the forecast period.
As per the sodium phosphate market analysis by FMI, increasing crop production has further enhanced the sodium phosphate market opportunities. Moreover, rise in meat consumption, owing to the increasing demand for animal feed in tandem with the rising demand for water treatment chemicals are expected to enhance the market.
However, the greatest challenge in the global sodium phosphate market is the diminishing supply of phosphate. The stringent regulations related to the usage of sodium phosphate in detergents are also likely to dwindle the sodium phosphate market to an extent.
Sodium phosphate market statistics in the region have been driven by consumers' growing emphasis on high-protein diets and increased affordability, pushing the market share of North America to 27.4% in 2022.
Additionally, sodium phosphate is being used by manufacturers to enhance the texture and baking qualities of bakery goods like cookies and cakes in order to add nutrition value without causing any negative side effects, resulting in high demand.
The demand for baked goods like biscuits, cupcakes, and toast has increased due to a variety of factors, including the rising demand for prepared foods with adequate nutritional value, expanding the sodium phosphate market size in the region.
Moreover, the market is also facilitated by consumers who are eating fortified foods and engaging in fitness activities that improve wellbeing.
By 2022, Europe is anticipated to get hold of a sodium phosphate market share of 24.5% by the end of 2022, owing to the high concentration of market players in the region. During the forecast period, the market growth is predicted to be supported by an acute surge in the adoption to control the pH of processed meat products like canned tuna and deli meat in Western Europe.
The European Union (EU) and European Free Trade Association (EFTA) have approved sodium phosphate as a secure food additive with the distinguishing E-Number E339 on their respective lists of approved substances.
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A legion of start-ups in the sodium phosphate market have been surfacing in the recent times, bringing about innovations in the sodium phosphate market.
Start-ups in the sodium phosphate market have an intensified focus on experimentation. Efforts are being put to identify more application areas of sodium phosphate in order to create new revenue pockets.
Given the growing number of applications of sodium phosphate, several end-use industries have surfaced--chemical, plating and coating manufacturing, paper, pharmaceutical, biotech, oil extraction firms, and environmental laboratories.
The sodium phosphate market is consolidated in nature, where major vendors are adopting creative strategies and are constantly developing innovative products to ensure product differentiation.
Few of the strategies adopted by the players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with organizations in emerging countries to gain the strong foothold.
Most of the major sodium phosphate manufacturers concentrate on capitalizing their funds to maintain applications and technical marketing groups are appointed to serve the ever-changing needs of clients.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Product Type, Light Output, Usage, End Use, Region |
| Regions Covered |
North America; Latin America; Asia Pacific; The Middle East and Africa; Europe |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled |
The Mosaic Company; S.A. OCP; Potash Corporation of Saskatchewan Inc.; PJSC PhosAgro AG; Agrium Inc.; EuroChem; Saudi Arabian Mining Company; Innophos Holdings, Inc.; Israel Chemicals Ltd. |
| Customization | Available Upon Request |
The sodium phosphate market is likely to grow at a CAGR of 4.9% through 2032.
North America is likely to hold a sodium phosphate market share of 27.4% in 2022.
The sodium phosphate market is anticipated to account for about USD 666.8 million by 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Sodium Phosphate Market Analysis 2017-2021 and Forecast, 2022-2032 5. Global Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, 5.1. Monobasic sodium phosphate 5.2. Disodium phosphate 5.3. Trisodium phosphate 6. Global Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Application 6.1. Food & Beverages 6.2. Fertilizers 6.3. Detergents 6.4. Metal Finishing 6.5. Water Treatment Chemicals 6.6. Personal Care 7. Global Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Source 7.1. Sedimentary Marine Deposits 7.2. Igneous & Weathered Rock 7.3. Biogenic 8. Global Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10. Latin America Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11. Europe Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12. Asia Pacific Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13. MEA Sodium Phosphate Market Analysis 2017-2021 and Forecast 2022-2032, By Country 14. Key Countries Sodium Phosphate Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. The Mosaic Company 16.2. S.A. OCP 16.3. Potash Corporation of Saskatchewan Inc. 16.4. PJSC PhosAgro AG 16.5. Agrium Inc. 16.6. EuroChem 16.7. Saudi Arabian Mining Company 16.8. Innophos Holdings, Inc. 16.9. Israel Chemicals Ltd 16.10. AksharChem 17. Assumptions & Acronyms Used 18. Research Methodology
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Sodium Phosphate Market
