ALBANY, New York, April 15, 2016 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Calcium Propionate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023", global calcium propionate market was valued at US$312.6 mn in 2014 and is expected to reach US$480.3 mn by 2023, at a CAGR of 4.9% from 2015 to 2023. In terms of volume, global calcium propionate market is expected to reach 302.2 kilo tons by 2023, growing at a CAGR of 4.4% from 2015 to 2023. Europe is expected to dominate the global calcium propionate market in terms of demand over the forecast period.
Calcium propionate is one of the most important additives in the food additive industry. With growing consumer preference towards easy to prepare preserved food and huge market potential, the market is expected to witness considerable growth in the upcoming years. Globally, the bakery application sector dominates the market share in terms of revenue as well as in volume. Global calcium propionate market is expected to observe steady growth during the forecast period due to growing consumer preferences for preserved, easy to prepare food products. In addition, changing consumer lifestyle associated with increasing consumer health concern has prompted the use of calcium propionate which considers as safest food preservatives. It is majorly used as a preservative in bakery products including bread, baked products such as bread, cakes, rolls, and other yeast-based products, processed meat, various dairy products, packaged food products, beverages and animal feed products. The usage of calcium propionate has increased considerably as preservatives in past few years, as their effectiveness has enhanced through extensive and systematic research in large manufacturing companies.
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In terms of application type, bakery sector held the largest share in the global calcium propionate market, accounting for more than 58% market share in 2014 and is expected to grow at a CAGR of 4.5% from 2015 to 2023. Calcium propionate is largely used to prolong shelf life of products. Calcium propionate can be mixed into flour easily, which is one of the key ingredients of bakery products. In addition, calcium propionate is a widely used preservative in bread and baked goods. It prevents formation of rope and mold and extends the shelf life of bread and baked goods.
Europe held the largest market share in the calcium propionate market and acquired more than 37% in 2014. Growing demand for preserved, easy to make food items in Italy, Germany and France is expected to drive growth of the calcium propionate market in the region. In addition, the calcium propionate market is experiencing positive growth due to increasing preferences for preserved and bakery food products among consumers and livestock-based products in animal feed sector. Europe market has reached maturity due to their high market penetration levels and saturated end-products market. Globally, Europe generated the highest revenue in the calcium propionate market in 2014. North America held the second largest market share in 2014 witnessing a sluggish growth rate due to saturated end products market. The rising demand for preserved products and food security in the U.S. and Canada is anticipated to drive the growth of the calcium propionate market in North America. Asia Pacific is the fastest growing market for calcium propionate in 2014. This region is expected to witness highest growth on account of food industry growth in China and India. These countries have been experiencing rapid changes in consumer lifestyle which is affecting their food and consumption habits which in turn is expected to have high market growth. Globally, the calcium propionate market is anticipated to witness a high growth rate in the animal feed and packaged food application segment.
The calcium propionate market is consolidated where top five players acquired more than half of the market share in 2014. Major players in the calcium propionate market include Niacet Corporation, Kemira, Macco Organiques Inc., Perstorp Holdings AB, AB Mauri, Addcon Gmbh, A.M. Food Chemicals Co. Ltd., ABF Ingredients, Ltd., Cargill incorporated, Chr. Hansen A/S and BASF SE among others. This research study is specially designed to estimate and analyze the demand and usage of calcium propionate in a global scenario. Under the scope of the report, on the basis of application, the calcium propionate market is segment into bakery, dairy, meat processing, animal feed and others application type are covered. The research study provides in depth analysis of the by application segment across different geographies.
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The scope of the study presents a comprehensive evaluation of the stakeholder strategies and winning imperatives for them by segmenting the calcium propionate market as below:
Global calcium propionate market has been segmented as follows:
By Application Type
- Meat processing
- Animal Feed
- Packaged food products
- Others (Plant pesticides and grain protection etc.)
In addition the report provides cross-sectional analysis of all the above segments with respect to the following geographical markets:
Global Calcium Propionate Market, - Regional Analysis
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (RoW)
- Latin America
- Middle East
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