[350 Pages Report] The global calcium propionate market is expected to hold a value worth USD 328 Million in 2022. From 2022-2032, the market is expected to procure USD 498 Million while expanding at a CAGR of 5.6%. The growth of the market can be attributed to the growing demand for clean-label food products with increased shelf life.
Calcium propionate is a naturally occurring salt that is formed when calcium hydroxide combines with propionic acid. Calcium propionate is added to food to keep them fresh by preventing them from bacteria and mold. They are used as preservatives. It finds its applications in meat, bakery, and dairy products Calcium propionate also acts as an antimicrobial agent for killing microorganisms such as algae, viruses, and bacteria.
Data Points | Key Statistics |
---|---|
Expected Market Value (2022) | USD 328 Million |
Anticipated Forecast Value (2032) | USD 498 Million |
Projected Growth Rate (2022 to 2032) | 5.6% |
The demand for the product is rising owing to its cost-effectiveness as compared to other preservatives. Implementation of strict rules and regulations concerning food safety and shelf life is likely to be a major restraint to the market growth in the forthcoming period. However, growing health concerns along with changing lifestyles have increased the application of calcium propionate over the last few years, which will counter hampering factors and favor the market growth during the forecast period.
The increasing demand for processed and ready-to-eat food like pizzas, burgers, toast, and cakes, among others, is projected to benefit the market during the forecast period. Also, increasing acquisitions and agreements among players are likely to augment the market size significantly. For instance, in January 2018, Kemin Industries acquired its distributor Agri-Marketing Corp distributor for Kemin products in Canada. With this initiative, Kemin has successfully established a new location in Quebec, Canada. The initiative helped the industry to increase its product portfolio and enhance its production capacities. Such factors are expected to benefit the market in the coming time.
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From 2017 to 2021, the global calcium propionate market is anticipated to display a CAGR of 5.2%. The growth of the market can be attributed to the increasing demand for ready-to-eat products. The rapid growth of the food and beverage sector is projected to enhance the demand for calcium propionate. Changing lifestyles are likely to play a significant role in driving the market during the forecast period. Additionally, partnerships among players are anticipated to have augmented the market size during the aforementioned time period.
For instance, in 2017, ADDCON announced its partnership with Blendtek Ingredients Inc. for the distribution of ADDCON’s ammonium bicarbonate and calcium propionate. The aim of Blendtek was to boost the supply of ammonium bicarbonate to the North American market and calcium propionate in the Canadian market. Attributed to such factors, the market is likely to have shown a significant rise from 2017 to 21.
From 2022 to 2032, the global calcium propionate market is projected to exhibit a CAGR of 5.6% during the forecast period. The expansion of the market can be attributed to increasing expenditure on R&D in developed countries along with rising processed food markets in emerging economies like India and China. Other than these, increasing bakery product demand across the globe is likely to benefit the market during the forecast period.
Growing Demand for the Product from Food and Beverage Sector to Augment the Market
Increasing demand for processed and ready-to-eat foods like pizzas, toast, hotdogs, and burgers, among others is increasing at a significant rate. Such a rise in demand is likely to benefit the market during the forecast period. Expanding population across the globe has been identified as one of the significant factors propelling the market in the assessment period. Also, the developing meat industry and increasing consciousness for safe storage of meat owing to the spread of diseases are likely to boost the demand for the product, thus, expanding the industry in the assessment period.
Additionally, rising partnerships and acquisitions among players are likely to strengthen the market during the forecast period. For instance, in 2021, Kerry Group disclosed its acquisition of Niacet. Kerry Group is a nutrition company and is a renowned entity in the preservation technique industry and pharma industries.
Implementation of Stringent Regulations to Hold the Market Growth
The growing implementation of stringent rules and regulations with respect to food safety and shelf life is expected to hamper the market growth during the forecast period. Strict rules and regulations pertaining to quality and food safety will restrain the market in the assessment tenure.
For instance, the legally allowed level of propionic acid and propionates is 0.1% to 0.4%. Similarly, federal regulations, the addition of calcium propionate is 0.1 to 0.5 pH units depending on the amount, pH, and type of product. Such factors are expected to hinder the market growth during the forecast period.
Presence of untapped Markets to Offer Remunerative Opportunities to the Market
The Middle East & Africa and Asia Pacific regions are inclining towards the adoption of calcium propionate owing to the changes in consumer lifestyles and rising demand for fresh products. Both regions are witnessing a significant rise in disposable income, increasing number of working women, and expanding food and beverage sector, especially in the Asia Pacific.
Rapid urbanization and globalization have resulted in literacy and exposure to developed nations through foreign media and overseas experiences. Such factors are expected to encourage market expansion during the forecast period and act as a significant opportunity for the industry.
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Ease of Mixing and Better dispersion through food matrix to favor growth
According to the analysis, the segment is projected to display a CAGR of 4.5% during the forecast period. The rapid growth of the segment can be attributed to the ease of mixing and better dispersion throughout the food matrix. Also, dry calcium propionate does not affect the leavening action of baking powder in bakery products.
Robust Demand for Bakery Products to Develop the Segment
The food segment is anticipated to dominate the market during the forecast period. Domination of the segment can be attributed to the rapid growth of the food industry and increasing demand for bakery products.
Other factors contributing to the market growth include increasing per capita income, a rising number of working women force, and others.
According to the analysis, the global calcium propionate market is anticipated to be dominated by North America during the forecast period. The region is expected to display a CAGR of 5% during the assessment period. Domination of the market can be attributed to the increasing demand for processed food in the region.
The U.S is projected to make the maximum contribution to developing the industry. According to a study published in BioMed Central Ltd., about 36% of U.S adults consume ready-to-eat food. Such a high percentage of the population is expected to make a significant contribution to developing the regional market during the forecast period.
Other factors contributing to the regional market growth include rising demand for quality, fresh food products, and changing lifestyles of consumers. Further, the cheap cost of the product is anticipated to fetch significant dividends to the market in the forecast period.
As per the study at FMI, the market in Europe is anticipated to exhibit a CAGR of 3.3% during the forecast period. The growth of the regional market can be attributed to the rapid expansion of the baking industry. The presence of various established bakery players in the region will boost the market growth of the region in the coming time.
Germany is likely to make the maximum contribution to developing the regional market. Also, baked products are finding a place in almost every household and are a staple part of the British diet. Such factors are expected to positively influence the calcium propionate market in Europe during the forecast period.
According to the study, Asia Pacific is anticipated to be the fastest-expanding market during the forecast period. The region is likely to display a CAGR of 4% in the forecast period.
The development of the regional market can be attributed to rapid urbanization, the rising purchasing power of the middle class, and the expansion of economic opportunities. Rapid developing countries such as India, China, Japan, and Australia, among others, are projected to benefit the regional market during the forecast period.
Krishna Chemicals, Rishi Chemicals, New Alliance Fine Chemical Pvt. Ltd., RX Chemicals, Jainex Speciality Chemical, and GreenChem Industries, are some of the emerging entities in the global propionate market.
Key players in the global calcium propionate market include Holding AB, Mauri, Addcon GmBH, ABF Ingredients, Cargill Corporation, Macco Organiques Inc, Niacet Corporation Monin Inc., and Others.
Recent Updates from the Industry Include:
Attributes | Details |
---|---|
Market Size Value in 2022 | USD 328 Million |
Market Forecast Value in 2032 | USD 498 Million |
Global Growth Rate | 5.6% CAGR |
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | MT for Volume and USD Million for Value |
Key Regions Covered | North America; Latin America; Europe; APEJ; MEA |
Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, EU-5, Russia, Poland, China, ASEAN, Australi, New Zealand, Japan, GCC countries, South Africa |
Key Market Segments Covered | Form, Application, Region |
Key Companies Profiled | Holding AB; Mauri; Addcon GmBH; ABF Ingredients; Cargill Corporation; Macco Organiques Inc; Niacet Corporation Monin Inc. |
Pricing | Available upon Request |
The global calcium propionate market is expected to secure a market value worth US$ 328 Million in 2022.
The global calcium propionate market is anticipated to secure US$ 498 Million by 2032.
The global calcium propionate market is anticipated to display a CAGR of 5.6% during the forecast period.
During the forecast period from 2022-2032, the calcium propionate market in Europe is likely to expand at a CAGR of 3.3%.
The dry calcium propionate segment is anticipated to display a CAGR of 4.5% during the forecast period.
During the forecast period, the calcium propionate market in APAC is projected to display a CAGR of 4% during the forecast period.
During the forecast period, the calcium propionate market in APAC is anticipated to exhibit a CAGR of 5%.
Mauri, Addcon GmBH, ABF Ingredients, and Cargill Corporation are some of the established players in the global calcium propionate market.
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