Feed Phosphate Market Size

Feed Phosphate Market Analysis

The Feed Phosphate Market size is estimated at USD 2.82 billion in 2024, and is expected to reach USD 3.43 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).

• The main driving factor is the growing consumption of meat worldwide. Poultry meat consumption increased by 76.6% per kilo per capita, and pig meat by 19.7% in 2021. According to the Organisation for Economic Co-operation and Development (OECD) report 2022, poultry meat is expected to represent 41% of all the protein from meat sources in 2030, an increase of 2 percentage points when compared to the base period. The global shares of other meat products are lower: beef (20%), pigmeat (34%), and sheep meat (5%).
• The major leap in consumption is mainly by the middle-class population due to increasing disposable income. Livestock development by government organizations helped promote animal husbandry among the population, especially among the poorer sections, by emphasizing the importance of animal nutrition in animal welfare. Industrialization of the meat industry, specifically the poultry and pork segments, has been an important contributor to the feed phosphate industry, with rapid growth in lean meat consumption due to increased awareness of its health benefits.
• The rising cost of raw materials and the global scarcity of phosphate reserves, as it is a non-renewable resource, are restraining the market. Opportunities that affect the dynamics of this industry include increasing demand for natural feed products and substitutes, such as phytase being used in the manufacture of animal feed as blends to decrease the high cost of manufacture. Many companies also invested in R&D for the sustainable use of phosphate. Livestock production has increased globally and across all animal species to meet the demands of the population's shifting dietary habits, especially in developing markets.
• Even though the livestock industry is becoming more industrialized worldwide, particularly in Asia-Pacific, many farmers in nations like India and China are still marginal. Asia-Pacific is the world's largest producer and consumer of animal feed, and as a result, it directly affects the market for feed phosphates. The region's largest economies, including China and India, have increased their feed production capacities partly due to the region's expanding livestock industry.