Global Calcium Propionate Market: Snapshot
The primary driver for the global calcium propionate market is the growing demand for convenience foods and ready-to-eat foods across the world, a factor attributed to the increasingly work-oriented and busy lifestyles of consumers. Additionally, consumers from a lot of diverse economic regions are becoming aware of the various food-borne diseases and what they can do to avoid them. The use of anti-microbial additives is one of the foremost methods to provide germ-free food that lasts longer on the shelf. In fact, the anti-microbial properties of calcium propionate have created a high demand for it in bakery products. A large number of bakeries use calcium propionate to prevent their bread-based products from growing molds. Calcium propionate is also more cost-effective than other preservatives such as sulfites or sorbates, which will further enhance its position and demand, especially in emerging economies.
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There is, however, a parallel growth in the demand for fresh foods and organic foods in the world, owing to the concerns of consuming chemicals and additives in food. More and more people are concerned over the consumption of chemicals that are linked to several long-term illnesses and are therefore demanding foods that are devoid of any additives.
All in all, the global market for calcium propionate is expected to reach US$343.6 mn by the end of 2016 and US$480.3 mn by 2023, after this revenue being projected at a CAGR of 4.9% from 2015 to 2023.
Europe Leads Consumption of Calcium Propionate
By the end of 2023, Europe is expected to generate a revenue of US$175.9 mn in calcium propionate manufacture and distributions. Europe has consistently been the leading consumer of calcium propionate in the world and is expected to continue being in the lead till 2023. A large demand for calcium propionate comes from the nations of Italy, France, and the U.K., owing to their great consumption rate of convenience foods on a daily basis by the working class. Manufacturers of bakery products, dairy products, and animal feed products are all using calcium propionate in large quantities due to its preservative and anti-microbial nature. The demand for calcium propionate in Europe is also high due to the ban on antibiotics in multiple applications where calcium propionate can fill in.
North America holds a large demand for calcium propionate, but is expected to show a very slow growth in demand over the coming years, due to market saturation and a growing demand for fresh foods and organic foods. Meanwhile, Asia Pacific is showing a massive surge in its demand for calcium propionate due to its cost-effective nature.
Bakery Applications of Calcium Propionate Surge
Calcium propionate is currently one of the leading additives used to improve the shelf-life of foods. It finds key applications in the production of bakery foods, animal feed, meat processing, packaged foods, and specific beverages. The bakery industry leads the consumption of calcium propionate among all its applications. By the end of 2023, bakery applications of calcium propionate are expected to generate a revenue of US$270.0 mn for it. It is largely used to store grains and preparation foods such as pastas, noodles, and ready-to-eat foods such as breakfast cereals.
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The list of top players in the global calcium propionate market currently includes Niacet Corporation, Kemira, Macco Organiques Inc., Perstorp Holding AB, AB Mauri, Addcon GmbH, A.M. Food Chemical Co. Ltd., Cargill Incorporated, Chr. Hansen A/S, and BASF SE.
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