The calcium propionate market is expected to observe tremendous growth opportunities during the forecast period of 2018-2026. The expanding use of calcium propionate in various applications, especially bakery products, will serve as good growth generators.
The bakery segment held a large share in 2018. Owing to the rising popularity of calcium propionate in bakery products, the bakery segment will continue to bring profitable growth.
Calcium propionate can be defined as an organic salt produced through the reaction of calcium hydroxide with propionic acid. It occurs either in powder or crystalline form. It is nontoxic and prevents microorganisms and molds from inhibiting perishable products. Thus, the benefits of calcium propionate boost the growth of calcium propionate market.
Animal feed, beverages, plant pesticides, packaged food products, grain processing, bakery, meat processing, dairy, etc. are some vital applications that help increase the growth rate of calcium propionate market. The emergence of calcium propionate as an excellent food preservative will invite considerable growth between 2018 and 2026.
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The players are involved in mergers, acquisitions, joint ventures, and partnerships to expand their production capacities and eventually help in strengthening the growth structure of calcium propionate market. Hence, activities like strategic collaborations and expansions play a major role in improving the growth trajectory.
Transparency Market Research’s (TMR’s) report on the calcium propionate market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on calcium propionate by TMR suggests a stable growth period.
According to the TMR experts, the market for calcium propionate is prognosticated to expand at 5.3 percent CAGR during the forecast period of 2018-2026. In the context of valuation, the calcium propionate market is estimated to reach US$ 445 mn by 2026. The global market was valued at US$ 264 mn in 2017.
Growing Use of Calcium Propionate in Animal Feed adds Extra Stars of Growth
Countries having agriculture as their primary occupation, such as India bring profitable growth prospects for the calcium propionate market. Livestock plays an important part in agricultural activities. The rising use of domestic animals in agricultural activities is increasing the demand for animal feed. Calcium propionate is utilized in animal feed for minimizing the danger of bacterial development, eventually extending the shelf life. All these factors bode well for maintaining a balanced growth structure.
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Bakery Segment to Emerge as Champion Growth-Generating Segment
The overwhelming use of calcium propionate across the bakery segment, especially in bread, will invite promising growth during the forecast period. Calcium propionate helps in slowing the growth of molds and bacteria in bread and bread-related products. It assists in preventing microbes from producing the required energy needed for multiplying. This aspect has a large impact on the growth trajectory as the bread consumption levels are escalating at a rapid rate.
Popularity of Convenience Nutrition-Based Foods to Invite Exceptional Growth
Hectic work schedules and busy routines have changed the lifestyle of many individuals. The popularity of clean labels and convenient foods has increased greatly. The food choices of people have also changed considerably. A sizeable chunk of the food types consumed nowadays lack nutrition. Many of the food types also have high fats and other harmful additions, which is leading to an increase in obesity levels. Thus, many individuals are focusing on nutritious convenience food options, ultimately increasing the demand for calcium propionate as it is used in these products for increasing their shelf life.
Competition levels among the players in the calcium propionate market are always high. The global market for calcium propionate is dominated by well-established players. It is moderately consolidated. Some key players in the calcium propionate market are ABF Ingredients, The Dow Chemical Company, Macco Organiques Inc., Cargill Corporation, AB Mauri, Addcon GmbH, and A.M Food Chemical Co. Limited.
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