Europe & MEA food phosphate market to grow rapidly due to shifting consumer preference towards easily digestible food & beverage solutions coupled with increasing number of geriatric populations.
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Europe & MEA food phosphate market is anticipated to attain noteworthy gains in view of rising use of highly nutritious and easily digestible ingredients across the food & beverage sector. The demand for phosphate ingredients could elevate over time as more consumers prefer high-performance ingredients over conventional food items.
Europe & MEA food phosphate market might cross USD 300 million by the year 2026, according to a report by Global Market Insights, Inc.
Manufacturers are also focusing on attracting new and high-quality raw materials by signing long term contracts with related firms. This could ensure minimal supplier resilience, thereby providing a competitive price advantage to leverage upon.
Companies operating in the Europe & MEA food phosphate market are concentrating on strategical growth ideas like expanding and outsourcing production facilities, and new product development to enhance their market share.
Evolving dietary patterns of consumers living in Europe and MEA owing to increasing consumption of white and red meat could hugely benefit the business outlook of food phosphate suppliers over the forthcoming years. Generally, the human body utilizes phosphorus to maintain bone health and make them stronger. It also aids in repairing damaged tissues and remove wastes.
Lately, the confectionery and bakery industry is witnessing rapid growth owing to rising consumer inclination towards low calorie confections. Companies are also observing significant demand due to the gripping trend of gift giving.
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Surging adoption of high-quality ingredients across packaged bakery sectors could broaden the industry horizon for food phosphate developers across Middle East and Europe. Estimates suggest that the bakery segment could exceed USD 80 million within the predicted timeframe. Food phosphates are usually added in confectionery and bakery items as caking, stabilizing agents and emulsifiers.
Food phosphates are mainly used in canned seafood, bakery products, and prepacked meat. Along with enhancing the shelf life of food products, phosphates also help in protecting food products from moisture and air.
However, the European food safety authority reports that the estimated consumption of phosphate levels from food might have crossed the threshold of safe levels. This has compelled authorities to re-evaluate their safety standards and introduce new norms for maximum permitted levels to lower the content of phosphates when added as additives in food supplements. Such initiatives could impede the growth prospects of Europe & MEA food phosphate market.
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