Feed Phosphates Market worth $3.2 billion by 2028 - Exclusive Report by MarketsandMarketstm
CHICAGO, July 31, 2023 /PRNewswire/ -- The Feed Phosphates Market is estimated at USD 2.6 billion in 2023 and is projected to reach USD 3.2 billion by 2028, at a CAGR of 4.0% from 2023 to 2028 according to a report published by MarketsandMarketstm. Feed phosphates contribute to the overall health and performance of animals, including bone development, energy metabolism, and immune function. Livestock and poultry farmers are increasingly aware of the benefits of feed phosphates in enhancing animal well-being, leading to their higher adoption.
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Dicalcium phosphate (DCP) segment, by type is expected to account for the largest market share in 2023
DCP is known for its high bioavailability and digestibility, meaning animals can absorb and utilize the calcium and phosphorus efficiently. Improved nutrient utilization leads to better feed efficiency, resulting in cost savings for farmers as less feed is required to achieve optimal animal growth and production. Dicalcium phosphate can be used in various animal feed formulations, including poultry, swine, cattle, and aquaculture feeds. Its versatility and suitability for different species make it a popular choice among livestock farmers.
Powder segment, by form is projected to witness the highest CAGR during the forecast period.
Powdered feed phosphates are easy to handle and mix with other feed ingredients. Their fine texture allows for uniform distribution throughout the feed, ensuring that animals receive a consistent and balanced supply of essential minerals. The fine particle size of powdered feed phosphates results in higher surface area, facilitating better enzymatic activity and absorption in the gastrointestinal tract. This enhanced bioavailability ensures that the animals can efficiently utilize the phosphorus and other minerals present in the feed phosphate.
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Europe is expected to account for the largest market share in 2023.
The feed phosphates market industry has been studied in North America, Europe, Asia Pacific, South America and Rest of the World. According to the Alltech Feed Survey, in 2021, feed production in Europe occupied 261.9 million metric tons in 2020 and held a third rank worldwide to cater to animal nutrition in livestock, poultry, swine, and many others. Meat consumption in the region has been on a steady rise, driven by factors such as population growth, urbanization, demographics, higher incomes, and price fluctuations. As a result, the demand for feed in Europe is increasing.
Major players operating in the feed phosphates market includes Mosiac (US), Nutrien Ltd (Canada), OCP (Morocco), Rotem (Turkey), Eurochem Group (Switzerland), Phosagro (Russia), Fosfitalia Group (Italy), Phosphea (France), YARA (Norway), and J. R. Simplot Company (US).
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