APAC to be a Favorable Destination for Feed Phosphate Market in the Coming Years

Due to the rapid industrialization, the pork and poultry industries have seen immense growth in the past few years, thus leading to a growth in the demand for feed phosphates as well. Phosphate supplements play a vital role in the animal feed industry, with calcium phosphates being the most widely used phosphate supplements. They supply the required minerals that help in promoting the growth of strong teeth and bones in livestock and poultry, improve nutrient content, improved feed digestibility, and maintain health.

The global feed phosphate market is estimated to reach a value of USD 5.8 Billion by 2020, growing at a CAGR of about 3.0% during the forecast period from 2015 to 2020.

Geographical growth scenario of the market

Geographically, the market was dominated by Asia-Pacific in 2014, followed by North America and Europe. It is also expected to witness the highest CAGR, owing to the rapid growth in the pork and poultry industries in countries such as China and India. This growth can be contributed to the rising health awareness regarding livestock and increasing number of cases of various animal diseases across the globe. Among countries, China alone held about 23.5% of the total feed phosphate consumption in 2014, owing to the increasing income of the middle-class section and the rising demand for meat and dairy products.

Factors driving and restraining the market growth

The growth of the worldwide market for feed phosphate is being primarily influenced by the following factors:
• Increased consumption of meat
• Rapid industrialization of pork and poultry businesses
• Increasing threat of diseases in livestock

In addition, growth of the market in Asia-Pacific and RoW that is fueling the demand for feed phosphate and rising awareness about the quality of feed is expected to create an array of growth opportunities for the market.
However, the increasing cost of raw materials and scarcity of phosphate reserves across the globe are the major factors that are likely to hamper the growth of this market. Moreover, bringing innovations in production processes is a key challenge for the leading players involved in this market.

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Key players and strategies adopted

The Mosaic Company (U.S.), EuroChem (Russia), Potash Corp. (Canada), PhosAgro (Russia), and OCP Group (Morocco) are the leading companies functioning in the global market for feed phosphate. These companies are increasingly adopting strategies like expansion of facilities, mergers & acquisitions, agreements & joint ventures, and contracts. They are also focusing more on adopting latest technologies in order to minimize the cost of production. Some of the major players are also involved in the manufacturing of fertilizers as well. In order to witness a continuous supply of raw materials (phosphate rock), these top companies are integrating their business processes by investing in mining operations.

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