Global
calcium propionate market was valued at USD 327.7 million in 2015
and is expected to reach USD 480.3 million by 2023, growing at a CAGR
of 4.9% over the forecast period 2015 to 2023. Calcium propionate is
largely used in bakery products like bread, cakes, rolls, and other
yeast-based products, and various other items such as animal feed,
meat & processed meat products, dairy products, packaged food
products such as condiments, sauces, jam, diet food, chocolate,
soups, salads etc, beverages and various other products.In addition,
rising prices of animal feed products is another major concern to
preserve feed grains, in order to avoid their spoilage and improve
animal performance. Apart from this, busy lifestyles have resulted in
rising demand for ready to eat food products that are not easily
affected by bacteria. However, the alarming rise in health issues
faced by consumers has made them aware of consuming healthy and
nutritive convenience food products. The need to minimize the intake
of fats and calories influences the rising demand for various
functional food variants. In addition, calcium propionate is
considered to be one of the safest additives that are utilized in
various food products to avoid the spoilage of food products
especially during transportation. Calcium propionate has
anti-microbial properties that improve efficiency and processing
tolerance and extend shelf life of different food products. Owing to
these factors, the demand for calcium propionate is expected to drive
the growth of the market over the forecast period.
Other
influencing factors such as cost effectiveness and new product
offerings through research and development are fueling the market for
calcium propionate, globally. Increasing demand for natural
preservatives is a major factor for market growth. Increased research
and development to find new application segments is expected to offer
huge growth opportunity for the industry. Thus, all the above
mentioned factors are expected to fuel the growth of this market
globally. However, in spite of all these driving factors behind the
growth of the calcium propionate market, stringent regulations across
different countries regarding the usage of food and feed
preservatives (pertaining to food safety and quality) is anticipated
to restrain the global market of calcium propionate.
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In
the report, the calcium propionate market is segmented into by
application types and by geography. Based on application type, the
calcium propionate market is segmented into bakery, dairy, meat
processing and animal feed, packaged food products and beverages
among others. Others application segment include plant pesticides and
grain protection products etc. The calcium propionate market has
witnessed diversified trends across different regions including North
America, Europe, Asia Pacific and Rest of the World (RoW).
Geographically, Europe held the largest market share in 2014 and is
expected to grow steadily due to growing demand from leading markets
such as the France and U.K., while Italy and Germany have emerged as
the key test markets for new products. Europe market has reached
maturity due to their high penetration levels and saturated
end-products market. Rising demand for preserved, easy to make food
in France U.K., Italy, and Germany is expected to drive growth of the
calcium propionate market in the region. Growth of the calcium
propionate market in Europe has been aided by new product
introductions in calcium propionate application sector. North America
held the second largest market share in 2014. U.S. and Canada have
emerged as the key calcium propionate market in North America.
Product innovation through continuous research and development is
another factor driving the growth of the calcium propionate market in
North America. Major calcium propionate manufacturing companies are
engaged in innovation of new products which can improve the
effectiveness of calcium propionate as an antimicrobial agent to
prolong the shelf life of products.
Other
regions such as Asia-Pacific, the Middle East and Africa, and Latin
America are quickly adopting calcium propionate owing to change in
lifestyles. Across different regions, rising population and busy
lifestyle are the major factors fueling the demand for preserved food
where calcium propionate is widely used. Worldwide the calcium
propionate market is set to display strong gains overall due to
growth in emerging markets such as China, India, Brazil and Russia.
Key
players in the calcium propionate 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.
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