Calcium Propionate Market: Analyst’s Observations & Estimations
The trend that the food, beverages, and dairy industries are currently feeding-off is packaged products. Urban populations have a restless lifestyle and their percentage is propelling, owing to the progress that emerging economies such as BRICS nations are exhibiting. Collectively, the demand for organic ingredients that can extend the shelf-life of consumable-products is on an upward curve, helping the manufacturers to cater to a wider range of customers. Calcium propionate makes for a viable alternative, acting as a food additive, preservative, and antimicrobial agent. According to the findings of this this research study, the demand in the calcium propionate market will increment at notable CAGR of 4.9% during the forecast period of 2017 to 2023. Revenue-wise, the global calcium propionate market is estimated to be worth US$480.3 million by the end of 2023, mounting from the market’s evaluated value of US$360.4 million as of 2017.
While the calcium propionate market is gaining traction from the increasing demand for convenience foods, factors such as stringent government regulations and growing preference of fresh food products over preserved food are a few restraints holding the progress. The analyst of the report has foreseen the animal feed industry to open newer opportunities for the stockholders connected to the value chain of the calcium propionate market.
Bakery Top Application Segment of Calcium Propionate Market
Application-wise, the this business intelligence report segments the calcium propionate market into dairy, bakery, animal feed, meat processing, beverages, packaged food products, and others including grain protection and plant pesticides. Among these, as of 2017, bakery was the most profitable application segment, generating a demand worth of US$207.1 million. Calcium propionate can be easily mixed with flour and prevents microbes from producing the energy they need. Calcium propionate is a widely used preservative in bread and baked goods. Other grain foods that are preserved with calcium propionate include pasta breakfast cereals, and noodles. It prevents formation of rope and mold and extends the normal shelf life of bread and baked goods.
While the bakery industry is expected to remain the most prominent importer of calcium propionate in the near future, packaged food products segment is primed to expand at an above-average CAGR of 5.6% during 2017 to 2023.
Europe to Remain Most Profitable Region Until 2023
Region-wise, this report takes stock of the potential of demand for calcium propionate that can be expected out of North America, Asia Pacific (APAC), Europe, and the Rest of the World, including Latin America, the Middle East, and Africa. Currently, the Europe calcium propionate market is most lucrative, producing a demand worth of US$134.8 million in 2017 and projected to expand at a CAGR of 4.5% during 2017-2023. Among various application-segments, bakery is estimated to be worth US$99.0 million in the European region. North America and Asia Pacific have been identified as other two key regions in this market.
One of the featured section of this report is on the vendor landscape, wherein a number of prominent companies of the calcium propionate market have been profiled for their stronghold over the market in terms of shares, geographical presence, and recent strategic decisions. Some of the prominent players in the global calcium propionate market are Perstorp Holding AB, Kemira, and Niacet Corporation.
Global Calcium Propionate Market: Overview
Calcium propionate acts as an antimicrobial agent for killing microorganisms such as bacteria, algae, viruses, and fungi and is considered as an ideal bakery preservative. Calcium propionate market is a promising segment within the preservatives market. In addition, it is utilized in feed supplement to prolong shelf life of products. Growing demand for preserved food is expected to be a major driver for the calcium propionate market during the forecast period. The market is likely to witness considerable growth in the coming years with the huge market potential, and growing consumer preference across the world.
In addition, it is a cost effective solution as compared to the other preservatives, which is a major factor that drives the market. In addition, organized and extensive research has resulted in improved formulation techniques, enhanced application methods, and prolongs shelf life capabilities. Owing to the increasing preferences towards safe and hygienic foods, and extended shelf life products among consumers, calcium propionate market have witnessed a surge in demand during the past few years. This trend is expected to continue during the upcoming years.
In comparison with other preservatives calcium propionate is less toxic. In addition, other preservatives for instance, sodium propionate is very corrosive to the eye, skin, and mucous membranes, whereas calcium propionate is not an irritant. Consumers, growing desire for preserved foods is one of the key factors that drive the increasing demands for calcium propionate. Furthermore, the application of advanced food processing techniques drives the expansion of food production and new product development in diverse segments such as dairy products, animal feed, processed meat, ready-to-eat food products, sauces, salads etc., and this is likely to spur the growth of the market. Growing health awareness coupled with changing consumer lifestyle has prompted the use of calcium propionate in the past few years. It finds application majorly as a preservative in bakery products including bread, baked products, processed meat, and various dairy products.
Global Calcium Propionate Market: Segmentations
In this report, the global calcium propionate market is categorized into two segments: (i) by application and (ii) by geography. Based on application type, the calcium propionate market is bifurcated into bakery, dairy, meat processing, animal feed, beverages and packaged food products among others. Others application segment include plant pesticides and grain protection products. Based on geography, the global calcium propionate market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2014, Europe held the largest share of the calcium propionate market followed by North America, Asia Pacific, and Rest of the World (RoW) while, Asia Pacific is expected to be the fastest growing region during the next six years. In addition, Europe is expected to maintain its leading position during the forecast period.
Under the scope of the report, major driving factors along with restraints, and opportunities (DROs) of the calcium propionate market are covered. The research study highlights the ongoing market trends and provides details forecast for the period from 2017 to 2023. The report also covered the current market position for global calcium propionate, and highlighted future market trends that are likely to affect its demand. Based on geography, the market has been segregated into North America, Europe, Asia Pacific, and Rest of the World (RoW). Furthermore, each region is segregated into major country to highlight the respective market share of calcium propionate in each country. The study covers the entire major developed as well as developing countries across the world. The size and forecast for these markets for the period from 2017 to 2023 has been provided in the report.
The report covers details analysis of different driving and hindering factors of the calcium propionate market. Under the scope of the report, the market attractiveness analysis highlights the key investing areas in this industry that would help the major market players to formulate their business decisions accordingly. The report also provides the company market share analysis of key players operating in the biopesticides domain. Some of the key players in this market include Niacet Corporation, Kemira, Macco Organiques Inc., Perstorp Holdings AB, AB Mauri, Addcon Gmbh, A.M. Food Chemicals Co. Ltd., ABF Ingredients, Ltd., Cargill incorporated, Chr. Hansen A/S and BASF SE among others.
Global calcium propionate market: By Application
- Meat processing
- Animal Feed
- Packaged food products
- Others (Plant pesticides and grain protection etc.)
In addition the report provides cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Rest of Europe
- Rest of Europe
- Rest of the World (RoW)
- Latin America
- Middle East