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.
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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
- Bakery
- Dairy
- Meat processing
- Animal Feed
- Beverages
- Packaged food products
- Others (Plant pesticides and grain protection etc.)
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