Market Overview:
Sodium hexametaphosphate is an inorganic chemical compound used as a dispersing, sequestering, and anticaking agent in the food industry. It helps prevent crystallization of salts in foods and enhances the quality and texture of finished food products. The rising demand for convenience and packaged food has fuelled the need for such additives.
Market key trends:
One of the key trends driving the sodium hexametaphosphate market growth is its increasing demand from the food processing industry. Sodium hexametaphosphate has wide applications in processed meat products as an anti-caking agent and emulsifier. It prevents moisture absorption and maintains the quality of frozen meat. Thus, the rising consumption of packaged and frozen meat globally is augmenting the utilization of sodium hexametaphosphate. Additionally, it also finds utilization in dairy products, bakery items, and beverages providing texture and stability during production, storage and distribution of food products. The booming food processing industry in Asia Pacific is contributing to the increased adoption of sodium hexametaphosphate.
Segment Analysis
The global Sodium Hexametaphosphate Market Demand is segmented into food grade and technical grade. The food grade segment dominates the market and accounted for around 65% share in 2022. This is because sodium hexametaphosphate is widely used as a sequestrant, emulsifier and stabilizer in various food applications such as seafood, meat, dairy products, beverages and bakery products. Its effectiveness in preventing crystal formation and controlling pH makes it suitable for usage in these industries.
Key Takeaways
The global sodium hexametaphosphate market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to the increasing demand for convenience and packaged food products.
Regional analysis
Asia Pacific dominates the global sodium hexametaphosphate market with a share of around 35% in 2023owing to large food processing industries and growing meat consumption in countries such as China and India. Europe and North America follow Asia Pacific in terms of market share and are expected to grow at a decent pace during the forecast period.
Key players
Key players operating in the sodium hexametaphosphate market are Innophos, Aditya Birla Chemicals, Mexichem, TKI Hrastnik, Chengdu Talent Chemical Co., Recochem Inc., Foodchem International Corporation, Sua Chem, and weifang huabo chemical co. Ltd. Innophos is the leading producer of sodium hexametaphosphate with a global production capacity of over 150,000 tons per annum.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
