Potassium Dihydrogen Phosphate Market Trends

Growth Drivers

• Increasing demand for packaged food products - The food processing industry is constantly innovating as businesses for consumers' attention in a cutthroat marketplace. Furthermore, food companies are creating immunity-boosting goods and other foods with high protein content but low in calories, sugar, and fat as a result of customers' growing health consciousness. Thus, the food industry is currently making significant R&D investments and implementing cutting-edge technology. Manufacturers analyze customer buying patterns and market trends before releasing new products. To package the processed food the manufacturers relied on various preservatives and potassium dihydrogen phosphate is one of them. Therefore, the rising demand for packaged food directly influences the advancement of the potassium dihydrogen phosphate market share. Further, in a recent survey product categories and top manufacturers were compared for healthfulness and processing level, as determined by the Health Star Rating (HSR) system and the NOVA classification framework, respectively. Out of 230,156 food and beverage products, 71% were categorized as ultra-processed, with a mean HSR of 2.7 (standard deviation (SD) 1.4) out of a possible maximum rating of 5.0.

• Increasing application in pharmaceuticals - Improving human nutrition and using current agricultural land to safely boost agricultural output yields are two of the modern world's concerns. It is obvious that fertilizers are necessary to attain adequate agricultural efficiency, but they also need to harm the soil as little as possible. Due to its ability to significantly improve leaf photosynthesis, slow down crop aging, and encourage a certain level of nitrogen fertilizer uptake, which converts photosynthesis products, potassium dihydrogen phosphate, also known as the "Porter" reputation, is highly sought after by farmers. This inevitable demand for potassium dihydrogen phosphate in farmers will boost the market demand by the projection period.

• Extensive usage in industrial processes - Potassium dihydrogen phosphate is used in several industrial processes, such as electroplating, metal cleaning, and chemical manufacture as a buffering agent.  The usual dosage range for changing pH is 0.1% to 0.5% (w/v). Doses can be changed by particular pH objectives and buffer capacity needs and potassium dihydrogen phosphate is used as a buffering agent. This extensive usage is increasing the significance of the potassium dihydrogen phosphate market’s growth rate.

Challenges

• Adverse effect of potassium dihydrogen phosphate on the environment - The production of potassium dihydrogen phosphate like any other chemical creates an adverse impact on the environment. Pharmaceutical cocktail releases into the environment occur from human ingestion and partial removal from wastewater treatment systems. Over the past 20 years, a large number of journal publications discussing the potential negative consequences of pharmaceuticals have been published, positioning them as pollutants of rising concern. This side effect on the environment and increasing studies on this can impede the potassium dihydrogen phosphate market expansion.

• The rising cost of potassium dihydrogen phosphate than other general fertilizers will further hinder the market expansion. Although potassium dihydrogen phosphate is a potent fertilizer that helps in plant growth and color its high price makes it out of reach of the poor farmers.

• Competition from alternative products