Asia-Pacific Feed Phosphate Market has been estimated at USD 1.49 billion in 2021 and is projected to reach USD 1.91 billion by 2026, at a CAGR of 3.8% during the forecast period from 2022 - 2027.
Phosphate is a vital nutrient to the animals for optimal fertility, growth, and bone development. But they couldn’t produce enough phosphate on their own and hence it is added to the animal feed to deliver required nutritional content. There are various advantages related to the phosphate feed usage which includes nutritional quality enhancement, meat quality improvement, and ease in feed digestibility.
Drivers and Restraints of Asia-Pacific Feed Phosphate Market:
Some of the factors like rising structuring of pork and poultry industry, consumption of meat, developing livestock during their growth stages are responsible for driving the market. However, Stringent regulations, increasing expense of raw materials, and lesser availability of phosphate reserves are some of the key factors restraining the market.
Asia-Pacific Feed Phosphate Market – By Type:
Asia-Pacific Feed Phosphate Market – By Livestock:
Geographically, the market is further segmented into
South Korea. Asia-Pacific market dominates the market globally with the highest market share as well as highest CAGR. This is due to the presence of developing countries like China and India and growing demand for animal products. China accounted for around 23.5 % of the global share.
Major Key Players:
The key players in the market include The Mosaic Company, EuroChem Ltd., Potash Corp., PhosAgro, and OCP Group.
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