According to the research report “Calcium Propionate Market by Application (Food (Bakery Products, Dairy & Frozen Desserts, Meat, Fish & Seafood Products), Feed), Form (Dry and Liquid), and Region (North America, Europe, Asia Pacific and RoW) – Global Forecast to 2023″, published by MarketsandMarkets™, the market is projected to reach a value of USD 363.3 million by 2023, at a CAGR of 5.6%.
Browse 68 market data Tables and 29 Figures spread through 110 Pages and in-depth TOC on “Calcium Propionate Market – Global Forecast to 2023″.
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The growth of the Calcium Propionate Market is driven by the growing concerns about food and feed safety and shelf life stability which have resulted in the demand for calcium propionate for various food products.
The market is driven by factors such as food security, increasing demand for livestock-based products, which translates into the resultant demand for calcium propionate in order to avoid food spoilage and wastage. The high-growth potential in the emerging markets and untapped regions provide new growth opportunities for market players. However, increasing demand for food products devoid of synthetic preservatives and stringent government regulations are expected to restrain the market growth over the next few years.
On the basis of application, the feed segment is projected to be the fastest-growing market for calcium propionate. Calcium propionate helps combat microbial pathogens in various feed and raw materials, thereby enhancing the shelf life of feed products. The growth in the usage of calcium propionate for feed preservation is linked to a large extent to its cost-effectiveness as compared to other preservatives such as sodium propionate, sorbic acid, and sorbates.
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Based on form, the dry segment is projected to be the larger and faster-growing segment between 2018 and 2023. Dry calcium propionate has more advantages such as ease of mixing and better dispersion throughout the food matrix; additionally, dry calcium propionate does not affect the leavening action of baking powder in bakery products when compared to the liquid form. It is hence used in several applications such as bakery products, frozen desserts, meat processing, and feed.
The Asia Pacific region is projected to be the fastest-growing market for calcium propionate between 2018 and 2023. Asia Pacific presents tremendous opportunities for calcium propionate and its end-use applications. China has emerged as a recent exporter of calcium propionate for the food and feed industry. Factors such as rapid urbanization, high disposable incomes, strong demand for processed foods, coupled with a low cost of production, position China as a strong consumption and production hub.
The calcium propionate market is diversified and competitive, with a large number of players such as Niacet (US), ADDCON (Germany), Impextraco (Belgium), and Macco Organiques (Canada). It is dominated by various players, depending on their core competencies. However, demand for food products devoid of synthetic preservatives, increase in the prices of raw materials, and stringent regulations are some of the major factors restraining the growth of the market.
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