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Calcium Propionate Market (Bakery, Feed, Dairy, Meat & Processed Meat) Worth $312.7 Million by 2018 - New Report by MarketsandMarkets
The calcium propionate market is exhibiting positive growth due to increasing preferences for fresh food and livestock-based products. Growing concerns about food and feed safety and shelf-life stability have resulted in the demand for calcium propionate in various food products. This report estimates the market size of the global market in terms of revenue and volume. The bakery sector dominates the global market. Feed accounted for the second-largest share in the segment and is the fastest growing application for the usage of calcium propionate with a CAGR of 7.7%.
In terms of value, the global calcium propionate market is projected to grow at a CAGR of 6.0% from 2013 to 2018. Calcium propionate acts as an antimicrobial agent and is considered as an ideal bakery preservative. The dairy industry has been strongly influenced by the advantages of the use of calcium propionate in place of other preservatives due to its superior functionality. As its applications in niche segments are finding traction, demand is set to be rapid in meat processing and ready-to-eat foods.
The European and North American markets are fairly mature, owing to their high penetration levels and saturated end-products market. Other regions such as Asia-Pacific, Latin America, and the Middle East & Africa are rapidly adopting calcium propionate due to change in lifestyles. Increasing population and the rising disposable incomes are the key factors set to fuel demand for calcium propionate in these regions. The global market is set to exhibit strong gains overall due to growth in emerging markets such as India, China, Brazil, and Russia.
The key players in this calcium propionate market include Niacet Corporation (U.S.), Kemira (Finland), Macco Organiques Inc. (Canada), Perstorp Holdings AB (Sweden), and AB Mauri (U.K.). They are engaged in continuous R&D to increase the product functionality and novelty. The rising raw material prices and scarcity of raw materials are hindering production volumes. Through their organic growth strategies of expansion and new product formulations, the companies enhance their penetration in the global market.
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