Latest TMR Report Explores Impact of COVID-19 Outbreak on Calcium Propionate Market
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. The U.S. Food and Drug Administration has not placed any limitations on the use of calcium propionate in foods. Besides baked goods, it is commonly employed as preservative in processed cheese, chocolate products, and fruit preservatives. Furthermore, the tobacco industry has been utilizing calcium propionate as preservative in some of the products. Since the last few years, the food & beverages industry has been focusing on using natural preservatives to meet the demands of health conscious consumers.
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Increase in Need for Convenience Foods Creates Demand for Calcium Propionate
Busy lifestyles have led to a rise in demand for easily consumable products that are not affected by bacteria. However, the alarming rise in health issues faced by consumers has made them aware of the benefits of healthy and nutritive convenience food products. The need to minimize the intake of fats and calories is influencing the demand for specific functional food variants. Calcium propionate is considered to be one of the additives that avoids the spoilage of food products, especially during transportation. It possesses antimicrobial properties that improve efficiency and processing tolerance, and extend the shelf life of various food products. Thus, increase in demand for calcium propionate is anticipated to boost the calcium propionate market in the near future.
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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.)
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