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Europe led by Germany, France and Russia feed phosphate market should expect consumption at over 1 million by the end of 2024. Growing pork and poultry business and industrialization along with rising preference of consumer towards quality products containing low fat is expected to drive the regional industry growth.Asia Pacific led by China, India and Japan feed phosphate Market should exceed USD 5.5 billion by the end of forecast period. The pig population in China is vast and catering to its nutritional requirement is of utmost important. Changing lifestyle patterns, rapid urbanization and inclination of youth towards non-vegetarian diet for protein requirement will stimulate the market demand.
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North America led by U.S and Canada feed phosphate Market should expect significant gains at over 3.5% over the foreseeable timeframe owing to rising penetration of livestock diseases along with high nutrition requirements for poultry production in the U.S. Rising consumption of processed beef products are also expected to regional foster feed phosphate Market.
Feed phosphate Market from aquaculture is expected to register significant gains at over 4% over the forecast period. The inclusion rate of these products in salmon feed is close to 1 percent. The usage of feed phosphates in aquaculture diets provides optimal growth, energy and bone development.
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Phosphates are extracted from phosphate rock and further are further reacted with phosphoric acid for the manufacturing of feed phosphates. Further, these products enrich the quality of animal food providing them all the nutrients required for proper growth. The products help in controlling appetite providing palatability and appropriate digestion to animals along with performing other body functions such as maintenance of osmotic pressure and acid balance, energy utilization and transfer and development of skeletal tissues.
These products are inorganic sources which plays a crucial role in acid base buffering in blood, provides growth to teeth and bones and boost energy metabolism in livestock. The sufficient dosage of phosphorous in animal food also helps in protein digestibility, increase in feed conversion and intake along with weight gain.
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Rapid urbanization, upsurge in middle-class population and changing lifestyle patterns of consumers is highly affecting the consumption of quality of meat products consumed. Rising livestock diseases and increasing importance of animal nutrition mainly in poultry, swine and cattle will positively affect the feed phosphate Market.
Global feed phosphate market share is partially fragmented and industry participants include players such as Elixir, The Mosaic Company, Eurochem, Yara International, OCP Group, Reanjoy, Rotem Turkey and Lifosa. Many participants in the feed phosphate industry are expanding their global reach by offering high quality products along with strong R&D investments for providing quality products at affordable costs.
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Website: https://www.gminsights.com/industry-analysis/feed-phosphate-market
Release ID: 88890519