The Phosphoric Acid Market Report is Segmented by Grade (Fertilizer Grade, Food Grade, and More), Process (Wet-Process, Thermal-Process, and Secondary-Source/Recovery), End-User Industry (Fertilizer, Food and Beverages, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

The global Phosphoric Acid market stood near 42 million tonnes in 2024 and is expected to grow at a CAGR of 4.13% during the forecast period until 2035.

The report covers Global Food Grade Phosphoric Acid Market Trends and is Segmented by Application (Food, Beverage, and Pharmaceutical) and Geography (North America, Europe, Asia-Pacific, South America, and Rest of the World).

The global phosphoric acid market size was USD 48.75 Billion in 2021 and is expected to register a revenue CAGR of 3.8% during the forecast period. The increasing need for the production of fertilizers and rising need for wastewater treatment

Global Phosphoric Acid Market size worth at USD 48.49 Billion in 2023 and projected to USD 70.22 Billion by 2032, with a CAGR of 4.2% between 2024-2032.

The global phosphoric acid market was approximately USD 45 billion in 2019 and is anticipated to reach around USD 60 billion by 2026, at a CAGR of 4% during the forecast period.

The Purified Phosphoric Acid Market is estimated to be valued at USD 9.5 million in 2025 and is projected to reach USD 14.8 million by 2035, registering a compound annual growth rate (CAGR) of 4.5% over the forecast period.

Learn about the rising demand for phosphoric acid worldwide and how the market is expected to see an upward consumption trend over the next decade. By 2035, the market volume is projected to reach 25M tons and the market value to reach $29.3 billion.

Discover the booming purified phosphoric acid market! Explore key trends, growth drivers, and regional analysis in this comprehensive market report, covering applications from fertilizers to electronics. Learn about major players and forecast projections to 2033.

Phosphoric Acid market has been steadily increasing over recent years, and forecasts suggest a substantial growth trajectory in the upcoming period.

India Phosphoric Acid Market was valued at USD 2.60 Billion in 2024 and is expected to reach USD 3.08 Billion by 2030 with a CAGR of 3.07% during the forecast period.

Discover Market Research Intellect's High Purity Phosphoric Acid Market Report, worth USD 3.5 billion in 2024 and projected to hit USD 5.2 billion by 2033, registering a CAGR of 5.5% between 2026 and 2033.Gain in-depth knowledge of emerging trends, growth drivers, and leading companies.

Food Grade Phosphoric Acid Market Outlook

The global food grade phosphoric acid market size was valued at approximately $1.1 billion in 2023 and is projected to reach $1.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period. This growth is primarily driven by the rising demand for phosphate-based food additives that enhance the flavor, acidity, and preservation of a wide variety of food and beverage products. The increasing consumption of processed and convenience foods, which often require the use of effective preservatives and acidity regulators, further propels the market's expansion. Additionally, the pharmaceutical industry's demand for food grade phosphoric acid as an intermediate in drug production adds to its growing market presence.

One of the primary growth factors for this market is the burgeoning food and beverage industry. As consumer preferences continue to shift towards ready-to-eat meals and convenience foods, manufacturers are increasingly utilizing food grade phosphoric acid for its properties as an acidulant and pH adjuster. This trend is particularly pronounced in emerging economies where urbanization and lifestyle changes are leading to higher consumption of packaged foods. Moreover, the growing health awareness among consumers has led to an increased demand for fortified foods and beverages, which often incorporate phosphoric acid to improve nutrient bioavailability, thus further expanding the market.

In addition to the food and beverage industry, the pharmaceutical sector is also a significant contributor to the market's growth. Phosphoric acid is used in the formulation of various pharmaceutical products due to its ability to act as a buffering agent, which helps in maintaining the stability and efficacy of medications. The ongoing advancements in pharmaceutical manufacturing processes and the rising investments in drug development are expected to fuel the demand for high-quality food grade phosphoric acid. As a result, the pharmaceutical industry's growth directly correlates with the increased market demand for phosphoric acid.

The agricultural sector's role cannot be understated when discussing the market's growth factors. Food grade phosphoric acid is utilized in the production of animal feed as it aids in the digestion and absorption of nutrients, promoting better health and productivity in livestock. As the global demand for meat and dairy products continues to rise, so does the need for effective animal nutrition solutions, thereby driving the demand for food grade phosphoric acid. Additionally, the trend towards sustainable agriculture practices and the use of organic acids to enhance soil health and crop yield further support the market's growth trajectory.

Regionally, the Asia Pacific holds a significant share of the food grade phosphoric acid market, driven by the rapid industrialization and urbanization in countries like China and India. The increasing population and changing dietary preferences in this region have led to a surge in demand for processed foods, contributing to the market's expansion. North America and Europe also represent key markets due to their well-established food and beverage industries and stringent food safety regulations. These regions are witnessing innovations in food product formulations, which often require the use of phosphoric acid. Meanwhile, developing regions such as Latin America and the Middle East & Africa are experiencing growth due to rising disposable incomes and expanding pharmaceutical sectors.

Application Analysis

The Food and Beverages segment represents the largest application area for food grade phosphoric acid. This is largely due to the compound's widespread use as an acidity regulator and flavor enhancer in soft drinks, processed foods, and dairy products. The demand in this segment is propelled by the global increase in soft drink consumption, often utilizing phosphoric acid for its tangy taste and preservative qualities. Furthermore, as the beverage industry continues to innovate with new flavored drinks and health-focused products, the reliance on food grade phosphoric acid is expected to grow, ensuring the segment's dominance in the market.

The Pharmaceuticals segment, while smaller than the food and beverages sector, plays a crucial role in the application of food grade phosphoric acid. The compound is extensively used in the preparation of pharmaceutical products where it serves as a stabilizing agent and a medium for complex chemical reactions. The pharmaceutical industry&#0

The global super phosphoric acid market size is expected to grow at a CAGR of 5.10% between 2025 and 2034, driven by increasing demand for phosphorus rich fertilisers and rising investments by towards research and development activities.

Electronic grade phosphoric acid market size, trends & analysis, by product type (panel level, IC level, others), by application (cleaning, etching, others), and by region, forecast - [2017-2034].

Phosphoric Acid Market size was valued at USD 91.98 Million in 2024 and is projected to reach USD 113.39 Million by 2032, growing at a CAGR of 4.23% from 2026 to 2032.Global Phosphoric Acid Market DriversThe Phosphoric Acid Market faces several significant Drivers that can hinder its growth and expansionSurging Global Demand for Phosphate Fertilizers4: The most significant and dominant driver for the phosphoric acid market is the ever-increasing global demand for phosphate fertilizers.5 Phosphoric acid is the primary raw material used to manufacture essential phosphate-based fertilizers such as Diammonium Phosphate (DAP) and Monoammonium Phosphate (MAP).6 Driven by a rapidly growing global population, estimated to reach 9.7 billion by 2050, the pressure to enhance agricultural productivity and ensure global food security is immense.7 Farmers worldwide are increasingly reliant on high-yield crop cultivation, necessitating the consistent replenishment of soil phosphorus, an essential macronutrient for plant growth, root development, and energy transfer (ATP). This strong, non-cyclical demand from the agriculture sector which accounts for an estimated 80-85% of total phosphoric acid consumption acts as the foundational growth engine for the entire market.Expansion of the Food and Beverage Additives Sector: The burgeoning global food and beverage (F&B) industry, particularly the processed foods and carbonated drinks segments, is a crucial secondary driver for the high-purity, food-grade phosphoric acid market.8 In F&B applications, it serves multiple essential roles, acting as an acidulant to impart a desirable tangy or sharp flavor, most notably in cola beverages.9 Furthermore, it functions as a highly effective preservative, inhibiting the growth of mold and bacteria and thereby extending the shelf life of processed foods, jams, and dairy products.10 The increasing consumer preference for convenience foods and the sustained growth in emerging economies, which drive higher per capita consumption of packaged goods and soft drinks, are directly propelling the demand for food-grade phosphoric acid derivatives.

The size of the Phosphoric Acid Market market was valued at USD 42.67 billion in 2023 and is projected to reach USD 56.91 billion by 2032, with an expected CAGR of 4.2 % during the forecast period.

The global Technical Grade Phosphoric Acid market is projected to reach a valuation of approximately USD 3.5 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.8% from 2025 to 2033.

Learn about the rising demand for phosphoric acid in Northern America and how it is expected to drive market growth over the next decade. The market is forecasted to increase with a CAGR of +2.2% from 2024 to 2035, reaching a volume of 2.9M tons and a value of $1.9B by the end of 2035.

In 2024, Market Research Intellect valued the Phosphoric Acid Market Report at USD 45.5 billion, with expectations to reach USD 67.2 billion by 2033 at a CAGR of 5.5%.Understand drivers of market demand, strategic innovations, and the role of top competitors.