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Iron Phosphate Market Trends

Report ID: GMI2697
Published Date: Oct 2024
Report Format: PDF

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Iron Phosphate Market Trends

The pharmaceutical sector significantly contributes to the expansion of the market due to increasing consumer health concerns. Major pharmaceutical companies like GlaxoSmithKline, Merck, and Johnson & Johnson are making substantial investments in new and improved medicine processing technologies, which is expected to boost the growth of this segment. Additionally, regulatory reforms by various authorities aimed at improving drug efficiency and effectiveness are driving the demand for iron phosphate.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for iron phosphate was valued at USD 721.5 million in 2023 and is projected to grow at a 5.3% CAGR from 2024 to 2032, driven by the rapid expansion of the agriculture, pharmaceutical, and food & beverages sectors.

The iron phosphate industry from ferric pyrophosphate segment is expected to reach USD 618.1 million by 2032, growing at a 5.4% CAGR, driven by its high bioavailability and use in iron supplements and fortified foods.

The U.S. market is projected to achieve USD 176.3 million by 2032, with a CAGR of 4.7% from 2024 to 2032, due to rising demand in agriculture and food sectors for eco-friendly fertilizers and animal feed supplements.

Leading players in the industry include Aarvee Chemicals, Imperial Chem Incorporation, Jost Chemical Co., Merck, Spectrum Laboratory Products (Spectrum Chemical Manufacturing Corp), and Zhengzhou Ruipu Biological Engineering Co., Ltd.