The global monopotassium phosphate market will grow at a CAGR of 5.3% between 2021 and 2028, reaching US$2.8 billion in revenue by the end of 2028. It is expected that food and beverage applications will be the largest segment in terms of revenue during this period, accounting for over 60% of the total market share, followed by pharmaceuticals with an expected 33%.
Monopotassium Phosphate is a white, crystalline compound composed of potassium cations and monopotassium anions. It may also be referred to as KMG or MKP; this abbreviation stands for mono-potassium phosphate, the chemical form in which it occurs naturally. Monopotassium phosphate typically appears as pellets (granules) with particle sizes ranging from 12-20 microns.
On the basis of type, monopotassium phosphate MKP is segmented into powder, crystal, and liquid.
The powdered form of MKP is a white crystalline powder that can be white to yellowish in color and can be dissolved in water. It dissolves at room temperature and has low solubility in cold water. Liquid monopotassium phosphate is an important water-soluble fertilizer that provides phosphorus, potassium, and other nutrients to crops. It can be used as a stand-alone fertilizer or mixed with nitrogen fertilizers for stronger plant growth.
Liquid Monopotassium Phosphate has several advantages over the crystal variety: it's easier on soil because it doesn't produce excessive salt build-up; plants absorb it more quickly than MKP crystals, which means they need less time between applications; and there are fewer hazardous handling issues associated with liquefying the product - no dust particles released from this type of MKP solution.
On the basis of application, monopotassium phosphate MKP is segmented into food and beverage, pharmaceuticals, animal feed, pet food, personal care&cosmetics, others.
Monopotassium phosphate MKP is used in food and beverages such as salad dressings, dips, and mayonnaise. Aside from the use of Monopotassium Phosphate MKP for the production of sauces, it can also be utilized to increase calcium levels in cheese.
In addition, Monopotodium Phosphate MKP could be used as a source of potassium content for processed foods like bread or cereals that are required by law to contain certain quantities of this mineral. Moreover, monopotassium phosphate might decrease sodium intake through its combination with salt (NaCl) which enhances the flavor while reducing sodium chloride concentration per serving; thus making it an increasingly popular ingredient in many fast-food chains' products including french fries.
MKP’s most common use in the pharmaceutical industry is as a buffering agent and pH regulator. It has been used to decrease the acidity of the stomach and intestine, lower blood potassium levels, or maintain normal heart function during surgery. MKP also can be found in mouthwash for toothaches and sore throats, eye drops for glaucoma patients, and various other products.
MKP is a form of phosphate that can be used as a feed supplement to improve nutritional value. It's added to animal feeds for animals such as pigs, poultry, and beef cattle. The most common application in this field is adding MKP on pig manure so if it gets spread onto crops or soil, there are fewer negative effects from phosphates released into the environment than with other forms of phosphorus fertilizers.
MKP is used in pet food for two purposes: as a flavor enhancer and to bind moisture. It has no caloric value, meaning it will not add any calories to the diet of your cat or dog if they eat an amount that would be equivalent to one serving size per day. The majority of MKP use in pet foods comes from its antioxidant properties, allowing the protein sources found within many dry kibble diets to taste better while keeping them fresh-looking longer--a major priority for most consumers.
MKP can also be used in personal care and cosmetics products due to its high purity, low toxicity level, and more importantly for hair dye formulations because of its ability to hold water molecules while minimizing unwanted reactions like hydrogen peroxide oxidation or precipitation with metal ions which will lead to color change.
On the basis of region, the global monopotassium phosphate MKP market is segmented into North America, Europe, Asia Pacific, and Middle East & Africa. North America is the largest global consumer of monopotassium phosphate MKP in the animal feeds segment owing to the increasing number of livestock farms and demand for meat products from consumers. The growth was driven by factors such as increasing per capita income, rising number of people living with chronic conditions who need daily nutritional intake to promote health and wellbeing, growing demand for functional food products due to fast-paced lifestyle changes among others. However, Latin America has been projected to witness the fastest growth during the forecast period owing primarily because of the high population base coupled with an increase in disposable incomes which will fuel demand for healthy foods & beverages (such as MKP).
The growth factors for the monopotassium phosphate market are high demand from the food and beverage industry, increasing population, availability of raw material at low cost in emerging economies. Increasing awareness about the health benefits of potassium phosphates is expected to drive the product demand over the forecast period.
Up Market Research published a new report titled “Monopotassium Phosphate MKP Market research report which is segmented by Types (Powder, Crystal, Liquid), By Applications (Food and Beverage, Pharmaceutical, Animal Feed, and Pet Food, Personal Care and Cosmetics, Others), By Players/Companies Sandoz, Pharmaceutical Associates, Master Plant-Prod, Prayon Group, Charkit Chemical, Allan Chemical”. As per the study, the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Monopotassium Phospahte MKP Market Research Report|
|By Type||Powder, Crystal, Liquid|
|By Application||Food and Beverage, Pharmaceutical, Animal Feed and Pet Food, Personal Care and Cosmetics, Others|
|By Companies||Sandoz, Pharmaceutical Associates, Master Plant-Prod, Prayon Group, Charkit Chemical, Allan Chemical|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||224|
|Number of Tables & Figures||157|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Powder, Crystal, Liquid and By Application Food and Beverage, Pharmaceutical, Animal Feed and Pet Food, Personal Care and Cosmetics, Others.
Some of the companies that are profiled in this report are:
Monopotassium Phospahte MKP Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Monopotassium Phospahte MKP Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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