by Sodium hexametaphosphate is widely used as a sequestrant in food processing applications to prevent unwanted interactions between compounds and stabilize proteins. It prevents the precipitation or coagulation of compounds while allowing manufacturing processes such as freezing or canning of proteins. This provides improved food quality, texture and consistency. The growing demand for high-quality packaged foods with longer shelf lives is driving increased adoption of additives like sodium hexametaphosphate that enhance production efficiency and food safety.
The global Sodium Hexametaphosphate Market is estimated to be valued at US$ 1,501.17 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There is a growing focus on clean labeling among food manufacturers and consumers. This presents new opportunities for innovative applications of sodium hexametaphosphate beyond its established traditional roles. Companies are developing phosphate alternatives derived from natural sources to comply with clean label regulations and meet evolving consumer preferences. Extensive R&D is also being conducted to expand usage of sodium hexametaphosphate in bakery, dairy and meat products while maintaining its functional properties at lower inclusion levels. This helps reduce the total phosphate content in processed foods. Sustainable sourcing and recyclability of sodium hexametaphosphate will further enhance its market reputation and adoption rates over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barrier to entry but established brands hold major market shares.
Bargaining power of buyers: Buyers have moderate bargaining power. Sodium Hexametaphosphate has applications across various industries.
Bargaining power of suppliers: A few major manufacturers Globally with established supply chains hold bargaining power over buyers.
Threat of new substitutes: Substitutes available but none as cost-effective as Sodium Hexametaphosphate for its wide range of applications.
Competitive rivalry: Intense competition among Aditya Birla Group, Prayon, Innophos, Mexichem, TKI, Xingfa Group, and Recochem due to established presence.
Key Takeaways
The global Sodium Hexametaphosphate market is expected to witness high growth.
Regional analysis: North America dominates the global market, followed by Asia Pacific. Growth in food industries in China and India driving demand.
Key players operating in the Sodium Hexametaphosphate market are Aditya Birla Group, Prayon, Innophos, Mexichem, TKI, Xingfa Group, and Recochem. Aditya Birla Group and Innophos are among the top players based on market presence.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
