Calcium Propionate Market – Snapshot
Calcium propionate, also commonly known as calcium propanoate, is produced through fermentation of bacteria. It is a natural salt available in small quantities in many food items. Calcium propionate is added to food items, as it keeps them fresh by preventing the growth of bacteria and mold. Calcium propionate acts as an antimicrobial agent; it kills microorganisms such as bacteria, algae, viruses, and fungi. It is considered an ideal bakery preservative. Additionally, calcium propionate is utilized in feed supplement to prolong the shelf life of food products.
Rise in demand for preserved food is the major factor expected to drive the calcium propionate market during the forecast period. Increase in awareness about health in the food industry is also anticipated to boost the calcium propionate market. Calcium propionate offers various functional properties in different product lines. This coupled with the relatively lower cost of calcium propionate vis-à-vis other food preservatives is projected to propel the market in the near future. However, rise in demand for natural food preservatives is likely to hamper the market. Implementation of stringent government regulations on the production of synthetic food preservatives is also estimated to negatively impact the calcium propionate market. Nevertheless, untapped markets in emerging economies such as Asia Pacific, Latin America, and few regions of Africa offer immense opportunities to the calcium propionate market.
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The calcium propionate market has been segmented based on application and region. In terms of application, the market has been divided into bakery, dairy, meat processing, animal feed, beverages, packaged food products, and others. In terms of value, bakery was the major segment of the calcium propionate market in 2018, owing to the high consumption of bread across the globe. Calcium propionate is used primarily in breads to prevent the growth of molds and bacteria. The meat processing segment is projected to expand at a faster pace than other segments during the forecast period. This can be ascribed to the rise in demand for calcium propionate as preservative to avoid contamination in processed meat products. Packaged food products is also anticipated be a lucrative segment owing to the rise in consumer preference for packaged food, primarily in countries such as India, the U.S., China, and Brazil.
Based on region, the global calcium propionate market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for prominent share of the global calcium propionate market in 2018. It was followed by North America, Asia Pacific, Latin America and Middle East. However, Asia Pacific is expected to be a rapidly growing region of the market during the forecast period. Europe is anticipated to maintain its leading position during the forecast period.
High degree of competition exists among players operating in the global calcium propionate market. Dominated by large players, the market is moderately consolidated. Key players account for major share of the market. Prominent players profiled in the report are Niacet Corporation, Kemira, Macco Organiques Inc., Perstorp Holding AB, AB Mauri, A.M Food Chemical Co. Limited, Addcon GmbH, ABF Ingredients, Cargill Corporation, Chr. Hansen Holding A/S, BASF SE, and The Dow Chemical Company.
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Ubiquitous Utilization in Bakery Industry to Invite Promising Growth for Calcium Propionate Market between 2018 and 2026
The heightening demand for clean-label products from a large chunk of the populace may serve as a vital growth generator for the global calcium propionate market during the assessment period of 2018-2026. Calcium propionate serves as an antimicrobial agent and eliminated microorganisms such as algae, viruses, fungi, and bacteria. This function invites profitable growth opportunities for the calcium propionate market.
- The increasing use of calcium propionate in animal feed supplements will bring promising growth for the calcium propionate market during the assessment period of 2018-2026. The increasing expenditure on research and development activities by the players in the calcium propionate market for developing novel formulations may bring immense growth prospects. Swift changes in consumer preferences are further increasing the demand for calcium propionate. This aspect will prove to be a vital growth factor for the calcium propionate market.
- The calcium propionate market has a large number of players and thus attracts great competition. Strategic collaborations such as mergers, acquisitions, partnerships, collaborations, and joint ventures help in increasing the influence of the players in the calcium propionate market. Furthermore, expansion activities also help the players in the calcium propionate market to explore untapped opportunities and cater seamlessly to the increasing demand.
- The novel coronavirus pandemic changed the market landscape of several sectors tremendously. The calcium propionate market was moderately impacted by the pandemic. The strict stay-at-home orders led to disruptions in supply and logistics. This aspect harmed the growth prospects of the calcium propionate market to a certain extent.
- In addition, the border restrictions imposed by various countries led to tremendous obstacles in goods transport. However, various governments have revoked some of the restrictions to revive the economy. This factor may serve as a golden opportunity for the players in the calcium propionate market to gain lost growth prospects. Mass vaccination initiatives started by some countries also assures a return to normalcy soon.
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