07-Dec-2022 | Zion Market Research
The global diphosphates market size was worth around USD 530 million in 2021 and is predicted to grow to around USD 800 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.25% between 2022 and 2030.
Diphosphate, also known as E450, E signifying the European numbering system for food additives can have multiple sources of origins. Any ester or salt that contains two phosphate groups can be called diphosphate. In Australia, they were used extensively to store frozen and unprocessed fish filets and fish. Some of the applications involve use as an emulsifier, a thickening agent in sauces.
It can also be used as a bulking component in the baked goods industry. Disodium phosphate is a chemical compound that has applications in the food and cosmetic industry. It is most useful as a flavor enhancer. Some of the food items are natural sources of similar phosphates, but in processed food items, the quantity is generally higher, mostly in the form of additives.
The global market is yet to receive a complete 100% affirmation on the health impact of diphosphate consumption in the form of food additives. However, they are extremely common in day-day foot patterns while marking their application in other growing industries as well.
The global market size witnessed slow growth during the pandemic because of the closure of factory units and concerns about maintaining the right supply chain balance. However, since the compound is an important component of the food industry, the demand for the product remained high during that time.
The global diphosphates market is projected to grow owing to the increasing applications in the cosmetics sector. It is used to maintain the right pH balance of the product. Cosmetics is one of the fastest growing sectors with consumer presence even in the remotest areas. The growth is propelled by the increasing use of technology in providing upgraded cosmetics and skincare products to customers.
It is witnessing a staggering growth in the number of players in the domestic and international markets with products ranging from lower-end to higher-end. As per recorded data, the cosmetics industry in the United States employs more than 6,70,000 people and is one of the highest contributors to the country’s revenue.
With the advent of online sales channels, and selling products on e-commerce websites, the industry has managed to create a massive consumer database, and the trends in the beauty industry keep changing like no other sector. The constant research & development to meet the dynamic demand of the consumers may aid further expansion resulting in more demand for diphosphates.
The concerns over the use of diphosphates in processed food may restrict the global market growth while the growing application in the cheese industry is expected to provide. growth opportunities. Some associated heart diseases may challenge the global market expansion
The global market is segmented based on product type, end-user, function, and region
Based on product type, the global market segments are trisodium diphosphates, disodium diphosphates, dipotassium diphosphates, tetrasodium diphosphates, and magnesium dihydrogen diphosphates. Disodium diphosphates are most widely used in the food sector. It has a density of 2.31 grams per centimeter cube.
Based on end-user, the global market is divided into the cosmetic industry, beverage industry, and food industry. The global market generated the highest revenue from the food industry owing to the wide application of the compound.
Based on function, the global market is segmented into thickener, antioxidant, bulking agent, water retaining agent, acidification, texture modification, and color maintenance. Its application as a thickener is the leading revenue generation function. As per Statista, around 221 million of the American population consumed tomato sauce in 2020.
The global diphosphates market is projected to be dominated by North America in the coming years mainly driven by the immense revenue generated from the cosmetics and food & beverage industry. One of the main reasons for higher revenue in the cosmetics and skincare segment is the increased disposable income as well as a high awareness rate about the products.
The United States recorded a growth of over 13% in the sale of skincare products in 2021 over the sales in 2020. This could be attributed to the growing advancements in the cosmetics sector where producers are selling cleaner products to consumers. The Asia-Pacific market may also witness a high CAGR because of the growing f & B industry as a consequence of higher demand for a variety of food items. The growing initiatives for Asian countries to put local cuisines on the world map are expected to help the regional market grow further.
The global diphosphates market is dominated by players like Aditya Birla Chemicals, Nexeo Solutions, Hubei Xingfa Chemical Group, Mutchler Inc, and Trivenichemical, amongst others.
This review is based on a report by Zion Market Research, titled “Diphosphates Market By Product Type (Trisodium Diphosphates, Disodium Diphosphates, Dipotassium Diphosphates, Tetrasodium Diphosphates, and Magnesium Dihydrogen Diphosphates), By Function (Thickener, Antioxidant, Bulking Agent, Water Retaining Agent, Acidification, Texture Modification, and Color Maintenance), By End-User (Cosmetic Industry, Beverage Industry, and Food Industry), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/diphosphates-market
The global market is segmented as follows:
By Product Type
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