Calcium Propionate Market Intelligence Report Offers Growth Prospects
The global calcium propionate market was valued at US$ 264.0 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Calcium Propionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global calcium propionate market is primarily driven by the rise in demand for calcium propionate as preservative in bakery, meat processing, and packaged food products.
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Increase in Demand for Calcium Propionate as Food Preservative to Drive Market
Global expansion in the preserved food industry is boosting the demand for calcium propionate, as calcium propionate acts as an antimicrobial agent to kill microorganisms such as bacteria, algae, viruses, and fungi. Thus, it prolongs the shelf life of food products. For instance, growth in demand for bakery products in Canada and rapid development in the bakery industry in Southeast Asia are key factors expected to drive the global calcium propionate market. Studies indicate that calcium propionate is one of the safest food additives used in the food industry.
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Europe Dominates Global Calcium Propionate Market
Based on region, the global calcium propionate market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe led the global market in 2017. The market in the region is estimated to expand at a steady pace during the forecast period due to the high demand for calcium propionate in various industries such as bakery, dairy, and animal feed. Rise in number of industries in Asia Pacific and high demand for calcium propionate in developing countries are the key factors hampering the development of the market in Europe. Demand for calcium propionate is poised to increase further in Europe due to the ban imposed on antibiotics in some applications. Demand for preserved products in North America has been increasing owing to the stringent food security regulations and rise in usage of these in livestock-based products.
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High Degree of Competition among Market Players
High degree of competition exists among players operating in the global calcium propionate market. The market is dominated by large players and is moderately consolidated. Major players account for more than 65% share of the market. These key players include Perstorp Holding AB, Niacet Corporation, Kemira, Macco Organiques Inc., and AB Mauri. Perstorp Holding AB produces and supplies calcium propionate in North America, Latin America, Europe, Africa, and Asia Pacific.
The global calcium propionate market has been segmented as follows:
Global Calcium Propionate Market, by Application
- Bakery
- Dairy
- Meat Processing
- Animal Feed
- Beverages
- Packaged Food Products
- Others (Plant Pesticides, Grain Processing, etc.)
Global Calcium Propionate Market, by Region
- North America
- U.S.
- Canada
- Mexico
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