Growth Drivers
Growth in Population - The population of the world is projected to rise by almost 2 billion people over the course of the next 30 years, from the present 8 billion to 9.7 billion in 2050, with a potential peak of roughly 10.4 billion in the middle of the 1980s. Future demands for food and water would increase owing to the growing global population. Hence, along with growing agriculture activity the drinking water treatment is also estimated to boost. Phosphates are water treatment chemicals used to maintain water quality (reduce lead and copper levels, inhibit corrosion, scale, and biofilm) in the distribution system as well as to address specific water quality issues brought on by inorganic contaminants (such as iron, manganese, calcium, etc.) in ground water supplies. Hence, the demand for calcium phosphate is growing further boosting the market growth.
Rise in Demand for Nutritional Food - In America, about 49% of people say they actively strive to eat healthily, as per the reported data.
Surge in Number of People Suffering from Tooth or Dental Problem - According to the WHO Global Oral Health Status Report (2022), about 3.5 billion people worldwide suffer from oral diseases, with middle-income nations accounting for three out of every four of these cases. An estimated 2 billion people worldwide are thought to have permanent tooth decay, and 514 million children have primary tooth decay.
Growth in Demand for Milk Based Products - Milk and milk products are consumed by more than 5 billion people globally, most of whom reside in poor nations. Sequestered calcium phosphate nanoclusters function as substructures in casein micelles to generate a stable fluid in milk. As a result, milk is estimated to have calcium and phosphate concentrations that are far higher than those elements' solubility. Hence with the growing demand for milk-based products the market is estimated to grow.
Upsurge in Population of Cattle - Around 2 billion head of cattle were present worldwide in 2022, an increase from about 995 million in 2021. Hence, owing to this the demand for animal feed is anticipated to boost.
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
6.2% |
Base Year Market Size (2023) |
USD 1.06 Billion |
Forecast Year Market Size (2036) |
USD 2.32 Billion |
Regional Scope |
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Author Credits: Rajrani Baghel
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