Calcium Propionate Market – Upcoming Growth Opportunities, Revolutionary Trends & Future Benefits of Product 2023
Calcium Propionate Market Segmentation:
Calcium Propionate Market has been segmented on the basis of type for a comprehensive analysis. The segments of the market, based on type, include bakery products, dairy products, animal feed, agricultural applications, and others.
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The booming food industry is likely to accelerate demand generation for calcium propionate over the next couple years, which is synthesized by the reaction of propionic acid with calcium hydroxide. Market Research Future (MRFR) has conducted a study to evaluate the potential of the global calcium propionate market. The assessment reveals that the market is expected to mark a steady CAGR over the forecast period 2016 to 2023. The changes in the food pattern is anticipated to fuel demand for calcium propionate in the upcoming years.
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Calcium propionate is projected to exhibit proliferating applications across industries such as food & beverage, dairy, bakery & confectionary, etc. Also, it has developed a core application of serving as the food preservative to increase shelf life. This, in turn, is anticipated to catapult the calcium propionate market on an upward trajectory. Also, it is extensively used as a food additive in wines, vinegar, soy sauce, etc. The elevation being observed in the standard of living fueled by urban migration is expected to reflect as shifts in the consumer preferences in the food industry. It is projected to catalyze the growth of the calcium propionate market over the next few years.
The prominent players of the global calcium propionate market expected to contribute to the market growth are A-M chemicals co., Ltd (China), Fine organics (India), ADDCON (Germany), Kemira Oyj (Finland), Krishna Chemicals (India), Niacet (U.S), Impextraco NV (Belgium), Macco Organiques inc (Czech Republic), Cargill Incorporated. (U.S), Perstorp Orgnr (Sweden), AB Mauri India Pvt.Ltd. (India), Triveni Chemicals (India), Kemin Industries, Inc. (USA), BASF SE (Germany), and Eastman Chemical Company (U.S).
In November 2018, researchers at the University of Santa Catarina in association with Agricultural Research and Rural Extension in Brazil found out that chelating propionic acid with calcium can be used to boost growth and survival rate of farmed silver catfish.
In September 2018, Corbion, a Dutch food and biochemicals company headquartered in Amsterdam, has announced the introduction of Verdad MP100, a combination of natural flavor and vinegar that matches flavor neutrality of calcium propionate.
The geographical study of the global calcium propionate market spans across five major regions – Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa (MEA). North America is expected to exercise its control over a dominant share of the market accounting for around 35% share. The driving factor of the regional calcium propionate market is the increasing consumption of bakery products and convenience food.
Europe is anticipated to retain its position in second place through the forecast period. The rising need for increasing the shelf life of food products is expected to favor the expansion of the calcium propionate market in the region. Country-level markets such as the U.K, France, Italy, Germany, and Spain are projected to emerge as the major sub-markets in the region.
Asia Pacific has been projected to exhibit a relatively higher CAGR over the assessment period. The growth of the regional market is supported by the growing consumption of calcium propionate on account of changing food habits.
Latin America and the Middle East & Africa (MEA) are anticipated to scale decent growth pace in the upcoming years. The growth of the food & beverage as well as agrochemical industries in the developing nations such as Brazil, South Africa, etc. is expected to catalyze the growth of the calcium propionate market in the years to come.
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