The top three players in the global calcium propionate market, Niacet Corporation, Perstorp Holding AB, and Kemira, held a two-third share in the market in 2014. Transparency Market Research states that the leading players are expected to develop excellent distributions chains to improve product penetrations and sales says Transparency Market Research. Companies are also expected to focus on building a strong product portfolio in the coming years to strengthen their means of revenue generation.
According to the research report, the global calcium propionate market was valued at US$343.6 mn by the end of 2016. By the end of 2023, the global market is expected to touch revenue worth US$480.3 mn as it promises to expand at a CAGR of 4.9%. Increasing adoption of calcium propionate in baking is expected give the global market a significant boost. Owing to this reason, the baking application segment in the overall market is slated to reach a revenue of US$270.3 mn by the end of 2023.
Stringent Regulations about Food Preservatives Up Calcium Propionate Consumption in Europe
Geographically, the global calcium propionate market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The regional market of Europe is expected to expand at a steady pace in the coming years as it promises to generate a revenue of US$175.9 mn by the end of 2023. The emergence of the Europe calcium propionate market will be attributable to the high demand for ready-to-eat food items across Italy, the U.K., and France. The demand in this regional market will be fueled by the high consumption of preserved food items and stringent regulations imposed by REACH about using other preservatives.
Demand for Ready-to-Eat Meals Spurs Growth of Global Calcium Propionate Market
The changing lifestyles that are characterized by no time for eating wholesome meals has triggered a wave of concern amongst urban dwellers. The food and beverages companies have offered a simple solution to this conundrum with packaged and ready-to-eat meals that come in a wide range of preparations. Thus, the rising consumption of quick meals has raised the demand for calcium propionate as it an imperative preservative used for preventing food contamination. This anti-microbial preservative is being used for averting food-borne illnesses and related issues. Thus, the rising worries about food related health issues are likely to increase the consumption of calcium propionate in the near future.
Its cost-effectiveness is also expected to have a positive impact on the global market. It is extensively being used for storing grains and making food items such as noodles, pastas, and breakfast cereals. Calcium propionate also finds application in preparation of animal feed, meat processing, certain beverages, packaged food items along with bakery food items.
Emerging Trend of Eating Healthy and Fresh Food Items to Challenge Global Market
On the flipside, the demand for calcium propionate is likely to suffer as consumers are opting for fresh food items. Increasing focus on improving lifestyles and cutting down on the consumption of junk food and packaged food items has considerably hampered the global market. The rise of the health and fitness conscious consumers is projected to have a negative impact on the overall market.
The review is based on Transparency Market Research’s report, titled “Calcium Propionate Market (Application - bakery, dairy, meat processing, animal feed and others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Key segments of the Global Calcium Propionate Market
Global calcium propionate market, by Application Type
- Meat processing
- Animal Feed
- Packaged food products
- Others (Plant pesticides and grain protection etc.)
Global calcium propionate market, by geography
- North America
- Rest of Europe
- Rest of Europe
- Rest of the World (RoW)
- Latin America
- Middle East
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