Food Grade Phosphoric Acid Market Size (2024 - 2029)

Food Grade Phosphoric Acid Market Analysis

The Food Grade Phosphoric Acid Market size is estimated at USD 2.44 billion in 2024, and is expected to reach USD 2.9 billion by 2029, growing at a CAGR of 3.44% during the forecast period (2024-2029).

High consumption of beverages remained one of the key factors, driving the market studied, during the forecast period. Despite rising concern against the detrimental attributes of soft drinks, the sector lays vast scope for the niche ingredients like phosphoric acid, about the robust consumption share of cola drinks in the overall soft drink industry. Moreover, companies, promoting their products and supplementing their sales, are constantly emphasizing the fact that phosphorus acid, when taken in small quantities, causes no harm. For instance, Pepsi, in response to several epidemiological studies, stated a research finding about the health-effectiveness of phosphoric acids. Additionally, companies like Coca-Cola are even comparing the incorporated phosphorus content with food products, including milk, rice, and chicken, to gain consumers' confidence.

The market studied is increasingly being driven by its evolving role as a food additive in a variety of processed food products. Thus, the growing demand for preservative food products, especially in the beverage industry, is providing a thrust to the market. Furthermore, the multidimensional role of food-grade phosphoric acid in the leavening process of baking, moisture, color, texture, and flavor retention, and its important role as an anti-caking agent is augmenting the growth of the market studied. Hence, brands such as Bell Chem have been offering food-grade phosphoric acid that acts as a food source for yeast and is often employed as an ingredient to leaven baked goods.

Food Grade Phosphoric Acid Industry Segmentation

Phosphoric acid is a strong inorganic acid that is colorless and odorless. It is an indispensable additive, often found in colas and other dark-colored carbonated sodas. The strength and flavor hold a neutral profile of food-grade phosphoric acid, making it a desirable choice for low-pH foods and beverages.

The food-grade phosphoric acid market is segmented by application and geography. Based on the application, the market is segmented into food, beverage, and pharmaceutical. The study also covers an analysis of the major regions such as North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecasts have been done on the basis of value (USD).