The global calcium propionate market was valued at US$ 264.0 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Calcium Propionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global calcium propionate market is primarily driven by the rise in demand for calcium propionate as preservative in bakery, meat processing, and packaged food products.
Increase in Demand for Calcium Propionate as Food Preservative to Drive Market
Global expansion in the preserved food industry is boosting the demand for calcium propionate, as calcium propionate acts as an antimicrobial agent to kill microorganisms such as bacteria, algae, viruses, and fungi. Thus, it prolongs the shelf life of food products. For instance, growth in demand for bakery products in Canada and rapid development in the bakery industry in Southeast Asia are key factors expected to drive the global calcium propionate market. Studies indicate that calcium propionate is one of the safest food additives used in the food industry. The U.S. Food and Drug Administration has not placed any limitations on the use of calcium propionate in foods. Besides baked goods, it is commonly employed as preservative in processed cheese, chocolate products, and fruit preservatives. Furthermore, the tobacco industry has been utilizing calcium propionate as preservative in some of the products. Since the last few years, the food & beverages industry has been focusing on using natural preservatives to meet the demands of health conscious consumers.
Increase in Need for Convenience Foods Creates Demand for Calcium Propionate
Busy lifestyles have led to a rise in demand for easily consumable products that are not affected by bacteria. However, the alarming rise in health issues faced by consumers has made them aware of the benefits of healthy and nutritive convenience food products. The need to minimize the intake of fats and calories is influencing the demand for specific functional food variants. Calcium propionate is considered to be one of the additives that avoids the spoilage of food products, especially during transportation. It possesses antimicrobial properties that improve efficiency and processing tolerance, and extend the shelf life of various food products. Thus, increase in demand for calcium propionate is anticipated to boost the calcium propionate market in the near future.
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Stringent Government Regulations to Hamper Market
Many countries have enacted stringent regulations (pertaining to food quality and safety) on the usage of preservatives. This is estimated to restrain the global calcium propionate market. Different organizations including the U.S. Food and Drug Administration (FDA) have set safety standards to determine whether a preservative is safe enough or not. Different food preservatives are currently banned in different parts of the world. This is acting as a barrier for the calcium propionate market. For instance, calcium propionate is authorized for usage in food and technology additives in Europe. However, the usage rate in Southeast Asia may be higher compared to that in Europe, as conditions are more favorable for growth of bacteria in the former. The impact of this restraint is high at present and is expected to be medium during the forecast period.
Bakery Segment to Dominate Global Calcium Propionate Market
Based on application, the global calcium propionate market has been segmented into bakery, dairy, meat processing, animal feed, beverages, packaged food products, and others. Bakery was the major segment of the market in 2017. It is expected to dominate the market during the forecast period. Calcium propionate includes calcium ions that interfere with the chemical leavening agents present in bacteria and yeast, which are the key ingredients of bakery products. Calcium propionate can be mixed into flour easily. Flour is the key ingredient of bakery products. Calcium propionate prevents microbes from producing the energy they need. It 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. Calcium propionate prevents the formation of rope and mold and extends the shelf life of bread and baked goods.
Europe Dominates Global Calcium Propionate Market
Based on region, the global calcium propionate market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe led the global market in 2017. The market in the region is estimated to expand at a steady pace during the forecast period due to the high demand for calcium propionate in various industries such as bakery, dairy, and animal feed. Rise in number of industries in Asia Pacific and high demand for calcium propionate in developing countries are the key factors hampering the development of the market in Europe. Demand for calcium propionate is poised to increase further in Europe due to the ban imposed on antibiotics in some applications. Demand for preserved products in North America has been increasing owing to the stringent food security regulations and rise in usage of these in livestock-based products.
The global calcium propionate is driven by the expansion in end-use industries. Rise in quality animal feed products and increasing need for animal feed grain preservation are boosting the global calcium propionate market.
High Degree of Competition among Market Players
High degree of competition exists among players operating in the global calcium propionate market. The market is dominated by large players and is moderately consolidated. Major players account for more than 65% share of the market. These key players include Perstorp Holding AB, Niacet Corporation, Kemira, Macco Organiques Inc., and AB Mauri. Perstorp Holding AB produces and supplies calcium propionate in North America, Latin America, Europe, Africa, and Asia Pacific.
Explore Transparency Market Research’s award-winning coverage of the global Food and Beverage Industry: https://www.prnewswire.com/news-releases/tmr-forecasts-promising-valuation-for-edible-flakes-market-rising-demand-for-nutritious-diets-to-drive-market-value-to-us-22-3-bn-by-2029-end-301015252.html
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