Food-grade sodium tripolyphosphate (STTP) is a type of sodium salt that is produced from triphosphoric acid. It is known to be used as a food additive that helps in the retention of moisture and preservation of the colour of meat and fish products while improving the texture of the food. It also acts as an emulsifier that helps in the prevention of becoming greasy and falling apart during the heating process of meat, poultry or fish products.
Introduction:
The food-grade sodium tripolyphosphate market is expected to witness significant growth during the forecasted period of 2024-2029 due to factors such as the increase in meat consumption and the increase in the growth rate of the urban population.
Market Drivers:
- Growth in meat consumption: Meat consumption worldwide can be one of the major contributors to the STTP market growth during the forecast period. STTP is known to be used as a food additive in the processing of meat products, which include poultry, seafood, and other meat products. STTP is known to have properties that retain moisture and preserve the colour of meat and fish products, along with the texture of the meat. It is also known to be used as an emulsifier that helps prevent meat, poultry, and fish from becoming greasy and falling apart during the heating process of cooking. Hence, STTP is widely used in the processing of meat and dairy. As per the Food and Agriculture Organization, global meat consumption per capita has been expected to increase at a rate of 0.3% per year to reach 35.4kg in retail weight by 2030. The major contributor to the increase in consumption of meat is poultry meat since it is expected to represent 41% of all protein from meat sources by 2030. The consumption of other meat products includes beef (20%), pigmeat (34%) and sheep meat (5%). The global meat exports are also expected to increase to reach 85 by 2030, reaching an estimated 40MT. China is expected to contribute to the increase in meat consumption and exports, accounting for an expected increase of 11% by 2030. This increase in meat consumption and trade of meat products is expected to increase the usage of STTP as a food additive in households and food service industries, leading to an expected increase in market growth during the forecast period.
- Growth in urbanization: Urbanization is one of the leading causes of the increase in consumption of processed foods, which include processed meat products and processed poultry products. Urbanization can be linked to the increase in the personal consumption expenditure of an economy, which displays the increase in income and consumption of an individual by using their savings and income. Urbanization can also be linked to the increase in the urban population, which is the shift of people from rural to urban areas due to increased job opportunities. Urban areas are known to have busy lifestyles among the people, which leads to an increase in demand for readymade or ready-to-eat foods and also increases the preference of consumers to consume food from food services such as cafés, restaurants, and many others. STTP is known to be used as a food additive in most processed meat products and meat cooking in general. STTP helps maintain the colour of the meat, all the while enhancing the taste and aroma of the food. It is also used for processing meat and dairy products. As per the World Bank, 56% of the global population lives in urban areas, which is an estimated amount of 4.4 billion people as of April 2023. The urban population is expected to double its current size by 2050, with an estimated 7 out of 10 people living in cities. The increase in the urban population increases the processed food consumption in the world, further leading to the STTP market growth during the forecast period.
Key Players:
- Haifa Group: A multinational corporation known for the manufacturing, production, and supply of speciality plant nutrition and fertilizers, as well as food-grade and technical-grade chemicals and fertilizers.
- Innophos: A company known for the production of chemicals and nutritional ingredients, which include a variety of products such as asphalt, catalysts, fertilizer salt, liquid phosphates, and acids, with applications in food, construction, healthcare, and industrial sectors.
Regional Analysis:
The Asia Pacific region is expected to witness significant growth in the food-grade sodium tripolyphosphate market during the forecasted period of 2024-2029. The factors that affect the market growth in this region are the increasing growth of the population coupled with the increase in disposable incomes and demand for processed foods in the region. China and India are expected to contribute to the majority of the growth due to the high population factor in the countries. The increase in population growth leads to an increase in demand for food across the region. When population growth is coupled with an increase in urbanization in the region, the growth of the disposable income per capita is expected to display a positive increase as well, which further increases the purchasing power of consumers in the economy. This increase in economic disposable incomes gives rise to the increase in demand for processed foods, in which the food-grade sodium tripolyphosphate is commonly used as a food additive in various applications, which include meat and poultry, seafood, and dairy processing. As per the United Nations Population Fund, the Asia Pacific region is home to 60% of the global population, with an estimated 4.3 billion people. China and India contribute to the highest numbers in population of the region. Also, as per the Population Reference Bureau, the Asia region will be expected to experience a 60% increase in the urban population, with an estimated increase to reach 2.6 billion by 2030. This increase will assist in the increase in demand for processed foods, where STTP is commonly used, due to the properties of colour preservation and moisture retention on meat products. Hence, the Asia Pacific region is expected to witness an increase in growth during the forecast period.
Segmentation:
- By Application:
- Meat products
- Seafood
- Poultry
- Others
- By End-User:
- Food Processing
- Household consumers
- Others
- By Geography:
- North America
- United States
- Canada
- Mexico
- South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others