Feed phosphates market provide optimal growth, improve gut health, aid bone development and improve fertility in livestock. Rise in consumption of meat and dairy products and high threat of diseases in livestock are the factors driving the market. This market is projected to reach 2.80 billion by 2024, from USD 2.25 billion in 2018, at a CAGR of 3.7%.
On the basis of type, the monocalcium phosphate segment is projected to grow at the highest rate from 2018 to 2024. Compared to other sources of phosphorus, MCP has some advantages such as neutralizing the harmful effects of a number of elements, such as sodium, potassium, and magnesium; and improving efficiency of carbohydrate, protein, fat, mineral, and energy metabolism in the body, due to which it is projected to grow at the highest CAGR during the forecast period.
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On the basis of livestock, the poultry segment is projected to form the fastest-growing market, during the forecast period. On a global level, the total poultry production has been increasing; with such growth in poultry production and consumption, it has become important for meat producers to focus more on quality. Poultry requires relatively large amounts of calcium and phosphorus for normal growth and skeletal development, which gives a boosts the consumption of feed phosphates.
In order to ensure a sustainable supply of good quality phosphates for the feed industry, market players need to invest in their research & development and develop innovative production processes and alternative sources of phosphorus. In recent years, there has been a significant number of innovations in phosphorus recovery technology. There are increasing efforts to recycle the phosphorus contained in wastewater, sewage sludge, as well as from the fly ash of incinerated sewage sludge. Such innovations in production processes and newer raw materials are likely to reduce the dependence on phosphate rock, thereby reducing feed phosphate prices. For instance, EcoPhos Group (Belgium) developed a wet-chemical process to recover phosphorus from fly ash. The company invested around USD 90 million to build a new animal feed-grade DCP production plant with an annual capacity of 220 KT. This plant incorporates the new process to treat ~50 to 60,000 MT of fly ash.
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The South American market is projected to grow at the highest CAGR from 2018 to 2024. The annual livestock production in this region has increased, subsequently driving the demand for compound feed. The rapid expansion of the livestock industry in the region has resulted in a steady import of feed phosphates. Several product developments by market players in the region, along with the increased use of compound feed are expected to drive the market for feed phosphates. Further, the demand for feed phosphates in this region is rising at a steady pace as the demand for dairy products, eggs, and meat from animals is increasing continuously.
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