Magnesium Phosphate Market Analysis

Magnesium Phosphate Market Analysis

Dimagnesium phosphate market registered over 245 kilo tons demand in 2017 due to its wide usage in bakery applications as leavening agent to improve dough rise and fluffiness. In addition, increasing product usage in stabilizing meat products by retaining water content will propel the industry growth. The product is also used in combination with salts for binding meat pieces in a reformed product. Moreover, the product is also used in cheese preparations to improve pH balance and enhance spreadability.
 

Trimagnesium phosphate will witness growth at around 3.5% up to 2024. Rising product demand as nutrient and dietary supplements will propel the product demand. Improving blood sugar to energy conversions coupled with regulating neuromuscular heart activity are among key properties driving the product scope in nutrient supplement applications.
 

Fertilizers will witness a notable growth up to 2024. Necessity for mineral enrichment and maintaining the phosphorus content in soil has enhanced the product demand in fertilizer applications. Enhancing starch & sugar utilization, improving cell division, photosynthesis and nucleus formation for plant growth will stimulate the industry growth.
 

Food & beverage application accounted for significant market share in 2017. Strong outlook as acidity regulator, leavening agents, anticaking agents and other food additives will propel the magnesium phosphate market size from food & beverage applications. Significant health benefits including enzyme activity regulation, enhanced energy production and maintaining mineral balance will drive the industry growth. Reduced chances of hypertension, diabetes and heart diseases will further provide a positive outlook for product demand.
 

Asia Pacific magnesium phosphate market is anticipated to worth over USD 700 million by 2024. Favourable socio-economic conditions particularly in China and India has enhanced the overall food and fertilizer grade product exports in recent years. As per Mosaic estimates, Indian phosphate shipments reached around 9.4 million tons in 2017. Increasing government focus on farmer training to improve plant growth, yield and crop nutrition will support the business growth.
 

North America magnesium phosphate market will witness growth at over 3% up to 2024 owing to notable product usage particularly in biomedical applications. As per CDC estimates, the U.S. arthritis incidences will reach 78.4 million by 2040. Increasing consumer spending in dental care and orthopaedics due to large geriatric population in the region will support industry growth. Implant coating, bone scaffolds and bone cement are among major applications in healthcare industry. Moreover, increasing R&D investments to develop nutrition rich products will drive the industry demand.