Calcium Propionate Market: Analyst’s Observations & Estimations
The trend that the food, beverages, and dairy industries are currently feeding-off is packaged products. Urban populations have a restless lifestyle and their percentage is propelling, owing to the progress that emerging economies such as BRICS nations are exhibiting. Collectively, the demand for organic ingredients that can extend the shelf-life of consumable-products is on an upward curve, helping the manufacturers to cater to a wider range of customers. Calcium propionate makes for a viable alternative, acting as a food additive, preservative, and antimicrobial agent. According to the findings of this this research study, the demand in the calcium propionate market will increment at notable CAGR of 4.9% during the forecast period of 2017 to 2023. Revenue-wise, the global calcium propionate market is estimated to be worth US$480.3 million by the end of 2023, mounting from the market’s evaluated value of US$360.4 million as of 2017.
While the calcium propionate market is gaining traction from the increasing demand for convenience foods, factors such as stringent government regulations and growing preference of fresh food products over preserved food are a few restraints holding the progress. The analyst of the report has foreseen the animal feed industry to open newer opportunities for the stockholders connected to the value chain of the calcium propionate market.
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Europe to Remain Most Profitable Region Until 2023
Region-wise, this report takes stock of the potential of demand for calcium propionate that can be expected out of North America, Asia Pacific (APAC), Europe, and the Rest of the World, including Latin America, the Middle East, and Africa. Currently, the Europe calcium propionate market is most lucrative, producing a demand worth of US$134.8 million in 2017 and projected to expand at a CAGR of 4.5% during 2017-2023. Among various application-segments, bakery is estimated to be worth US$99.0 million in the European region. North America and Asia Pacific have been identified as other two key regions in this market.
One of the featured section of this report is on the vendor landscape, wherein a number of prominent companies of the calcium propionate market have been profiled for their stronghold over the market in terms of shares, geographical presence, and recent strategic decisions. Some of the prominent players in the global calcium propionate market are Perstorp Holding AB, Kemira, and Niacet Corporation.
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Bakery Top Application Segment of Calcium Propionate Market
Application-wise, the this business intelligence report segments the calcium propionate market into dairy, bakery, animal feed, meat processing, beverages, packaged food products, and others including grain protection and plant pesticides. Among these, as of 2017, bakery was the most profitable application segment, generating a demand worth of US$207.1 million. Calcium propionate can be easily mixed with flour and prevents microbes from producing the energy they need. Calcium propionate is a widely used preservative in bread and baked goods. Other grain foods that are preserved with calcium propionate include pasta breakfast cereals, and noodles. It prevents formation of rope and mold and extends the normal shelf life of bread and baked goods.
While the bakery industry is expected to remain the most prominent importer of calcium propionate in the near future, packaged food products segment is primed to expand at an above-average CAGR of 5.6% during 2017 to 2023.