(Entertainment-NewsWire.com, October 07, 2021 ) The calcium propionate market 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 growth of the calcium propionate market is driven by factors such as an increase in demand for clean-label food products with extended shelf life and the cost-effectiveness of calcium propionate as compared to other preservatives. Stringent legislation and regulations with respect to food safety and shelf life have made it difficult for food and feed processing industries to getting the right formulation of ingredients along with preservatives without affecting the product quality, which acts as a major restraint for the calcium propionate market.
“The demand for dry calcium propionate is exhibiting steady growth.”
On the basis of form, the dry segment is projected to exhibit a higher CAGR from 2018 to 2023. The dry segment led the market for calcium propionate. The growth of dry calcium propionate is attributed to factors 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.
“The food segment is set to dominate the calcium propionate market in 2018”.
On the basis of application, the food segment is estimated to dominate the calcium propionate market in 2018. Calcium propionate is highly used in bread in the food industry. The growth of the bread industry, especially in the developing economies, owing to high per capita bread consumption, fuels the demand for calcium propionate.
On the basis of form, the dry segment accounted for the largest market share due to factors 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. Furthermore, dry form has a longer shelf life, facilitates better dispersion throughout the food matrix, and enhances flavor.
“Asia Pacific is projected to witness the highest growth rate during the forecast period.”
Asia Pacific is projected to be the fastest-growing market for calcium propionate during the forecast period. The consumption is driven by rapid urbanization, economic growth, and rise in purchasing power of the middle-class population, leading to increased bakery & convenience food purchases in the region. The region is an emerging market for calcium propionate, with investments from several multinational manufacturers, especially in countries such as China, India, Japan, Australia, and New Zealand.
Key players are Niacet (US), Impextraco (Belgium), ADDCON (Germany), Kemin Industries (US), Macco Organiques (Canada), Bell Chem (US), Krishna Chemicals (India), AM Food Chemicals (China), Associated British Foods plc (ABF) (UK), Fine Organics (UK), Real S.A.S. (Columbia)
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