ID: MRFR/CnM/4193-CR | March 2021 | Region: Global | 140 pages
The calcium propionate market size is projected to be worth USD 536.97 Million by 2028, registering a CAGR of 5.78% during the forecast period (2020–2028). The market was valued at USD 342.43 Million in 2020.
Calcium propionate is an organic salt found naturally when calcium hydroxide reacts with propionic acid. Calcium propionate enhances the shelf life of several products by preventing mold and other microbes from growing and producing. It is used as a food ingredient to extend the shelf life of a variety of products, including bread and other baked foods, processed meat, and whey and other dairy products. Regulatory agencies such as the FDA and the WHO have approved calcium propionate for use in various food products.
COVID-19 Impact vs. Opportunities for calcium propionate Market:
Rising technological advancements in the production of calcium propionate are expected to bring up new market opportunities over the forthcoming years. According to the "European Commission Database for Information on Cosmetic Chemicals and Components," calcium propionate is used as a preservative in cosmetic products to prevent them from decomposing and maintain the pH of personal care products. The increasing cosmetic and personal care products industry worldwide is anticipated to propel the preservative market growth, resulting in an increased demand for calcium propionate during the forthcoming years.
Consumers have been concerned about the COVID-19 outbreak, which has forced the closure of retail stores and bakeries to prevent the virus from spreading. This has encouraged panic buying among customers, who have been storing pantry staples such as bread, cakes, tortillas, and other foods. Furthermore, customers are also concerned about keeping track of their health, despite the ongoing fear and panic around the COVID-19 epidemic.
Market Dynamics
Calcium propionate is notably more cost-effective for food and nutrition preservation than other preservatives, including sodium propionate, sorbic acid, and sorbates. Calcium propionate assists in the elimination of potentially harmful microbes found in grains, resulting in higher-quality animal feed.
With the growing consumer demand for fresh foods and livestock-based goods, the calcium propionate market is expected to witness substantial growth during the assessment period. The availability of raw materials such as propionic acid is a major restraining factor in the calcium propionate market growth. With the advancement in developments and technology for propionic acid manufacturing, the supply would be positive in the long run.
The growth of the calcium propionate market may be hampered by alternatives such as sodium propionate. The sodium form of propanoic acid, sodium propionate, can be treated as a preservative in food, restraining the market growth over the forecast period.
The global calcium propionate market is projected to be restrained by food safety standards and stringent quality. For white bread, flour, and rolls, federal statutes establish a maximum threshold of 0.32 percent based on the weight of the flour. Such rigorous monitoring and controls hinder the market's growth.
Supply Chain Analysis:
The supply chain analysis is the process of evaluating every stage and step taken by stakeholders involved throughout the production and distribution of calcium propionate. The supply chain includes raw materials and suppliers, calcium propionate producers, distribution channels, and end-use industries. The distribution channel in this market comprises distributors, wholesalers, and e-commerce merchants.
Segmentation
By Application
Regional Analysis
Based on region, the global calcium propionate market has been divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Europe region is expected to dominate the global market growth during the assessment period. This growth is led by the rising intake of bread and bakery products in the region. There is also a growing trend in Germany and France to expand the production of sliced and wrapped bread. North America accounted for the second-largest market share of 23.76 % in 2020 and is expected to register a moderate CAGR during the forecast period. Furthermore, Asia-Pacific is projected to witness the fastest growth during the forecast period. Latin America and Middle East & Africa region is also expected to provide lucrative opportunities over the forecast period.
Competitive Landscape
The market is highly fragmented, with many global, regional, and various unorganized players. The competitive landscape offers an analysis of the key developments and strategies by the companies operating in this market. The global calcium propionate market is mainly driven by the rising demand from the end-use industries, such as automotive and construction, and the growing prevalence of eco-friendly materials.
Some of the key players operating in the global calcium propionate are A.M Food Chemical Co., Ltd (China), Calpro Specialities (India), Eastman Chemical Company (US), Perstorp Holdings AB (Sweden), Fine Organics (India), Kemin Industries, Inc. (US), Impextraco NV (US), Kemira (Finland), Macco Organiques Inc. (Canada), and Niacet (US).
Some of the key developments include:
Report Overview:
The calcium propionate market is segmented by type, application, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global calcium propionate's emerging and fast-growing segments, regions, and countries.
Objectives of the Study
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2028: USD 536.97 Million |
CAGR | 5.78% CAGR (2020–2028) |
Base Year | 2020 |
Forecast Period | 2021-2028 |
Historical Data | 2019 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Application |
Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa |
Key Vendors | A.M Food Chemical Co., Ltd (China), Calpro Specialities (India), Eastman Chemical Company (US), Perstorp Holdings AB (Sweden), Fine Organics (India), Kemin Industries, Inc. (US), Impextraco NV (US), Kemira (Finland), Macco Organiques Inc. (Canada), and Niacet (US) |
Key Market Opportunities | • Technological advancement to enhance product development |
Key Market Drivers | • Cost-effective and functional potential of calcium propionate to boost demand |
Frequently Asked Questions (FAQ) :
The global calcium propionate market would register a CAGR of 5.78%.
The food & beverage industry will play a prominent role in taking the market forward.
Availability of substitutes such as sodium propionate concerns could restrain the market.
The Europe calcium propionate market would enjoy the upper hand in the calcium propionate market.
Germany and France, as the largest consumer, would set the trend.