The
global calcium propionate market is led by key players such as AB
Mauri, Perstorp Holding AB, Macco Organiques Inc., Niacet
Corporation, and Kemira. Players such as Perstorp are expanding their
product portfolio through the segmentation of semi-specialty and
specialty products by considering factors such as high-quality
grades, tailored packaging, new applications, and distribution. The
company maintains a balanced product portfolio to avoid dependence on
any one of the end-markets. On the other hand, Niacet Corporation is
focusing on research and development in order to develop their
product portfolio. Many companies are acquiring other companies so as
to develop their production capacity, states a new report by
Transparency Market Research (TMR).
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According
to the report, the global calcium propionate market is anticipated to
rise from US$327.7 mn in 2015 to US$480.3 mn to 2023. The market is
expected to expand at a CAGR of 4.9% from 2015 to 2023. On the basis
of application, the bakery segment will lead in the market and
account for 56.3% by 2023. This is because calcium propionate can be
easily mixed with flour, which is one of the key ingredients of
bakery products. By region, Europe will continue to lead, accounting
for 36.6% in 2023.
Increasing
Demand for Convenience Foods Driving Market
The
busy lifestyles of people have resulted in a need for easily
consumable products that are not affected by bacteria. As such, the
demand for convenience foods is increasing. Additionally, the growing
consumption of bakery food items will also drive the demand for
calcium propionate. This is because calcium propionate is a commonly
used additive for avoiding spoilage of food products during
transportation and for extending their shelf life. In addition to
this, calcium propionate enhances the flavor of food items, needs to
be used in minimal quantities, and is less toxic. Moreover, it is a
cost effective solution over substitutes such as sorbates and
sulfites. Owing to these factors, the demand for calcium propionate
is expected to drive the growth of the market.
Increasing
Preference for Fresh Food Products over Preserved Food to Deter
Market’s Growth
A
shift in consumer preference toward fresh food owing to increasing
focus on natural and healthy diet routine is leading to a decline in
the demand for calcium propionate. This is because consumers are
opting for food products devoid of preservatives and additives.
Sringent regulations across different countries regarding the use of
preservatives is restraining the growth of the market. Moreover,
certain food preservatives are banned in different parts of the
world, which can also pose a threat for the growth of the market.
R&D
and Product Innovation to Strengthen Demand for Calcium Propionate
Growing
health concerns among consumers regarding the consumption of healthy
food products are anticipated to create opportunities for growth in
the calcium
propionate market. Since calcium propionate is being used as an
anti-fungal agent and it also enriches the nutritional value of the
food, it is expected to be increasingly popular in the coming years.
Companies are also undertaking many research and development
activities to enable product innovation. The development of newer
products is anticipated to boost the demand for calcium propionate
and aid the growth of the global market. Additionally, the growing
demand from Asia Pacific, South America, and the Middle East will
also aid the growth of the market.
This
information is based on the findings of a report published by
Transparency Market Research, titled “Calcium Propionate Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2015 - 2023.”
The
global calcium propionate market is segmented as follows:
Application
- Bakery
- Dairy
- Meat processing
- Animal Feed
- Beverages
- Packaged food products
- Others (Plant pesticides and grain protection etc.)
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