Market Leaders in Calcium Propionate Market
by Mit K. SEOThe market
for calcium propionate is estimated at USD 277.1 million in 2018 and is
projected to reach USD 363.3 million by 2023, at a CAGR of 5.6%. The calcium
propionate market has been segmented on the basis of application, form, and
region. On the basis of application, the calcium propionate market has been
segmented into food, feed, and others (pharmaceuticals and agriculture). This
market has also been segmented on the basis of form into dry and liquid. On the
basis of key regions, the calcium propionate market has been segmented into
North America, Europe, Asia Pacific, and the Rest of the World (RoW), which
includes South America and the Middle East & Africa.
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.
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The growth of the
calcium propionate 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.
Market Dynamics
Drivers
• Functional Potential of Calcium
Propionate in New Product Lines
• Cost-Effective Preservation
Solution
• Increasing Health Concerns of
Consumers in the Food Industry
Restraints
• Increasing Demand for Food
Products Devoid of Synthetic Preservatives
• Stringent Regulations
Opportunities
• Untapped Emerging Markets
• Technological Advancements to
Develop New Product Lines
• R&D & Innovations to
Strengthen Demand
Challenges
• Competition From Substitutes
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.
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.
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Geographical prominence
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.
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Created on Jun 24th 2020 07:53. Viewed 230 times.