The market for calcium propionate is estimated at USD 277.1 million in 2018 and is projected to reach USD 363.3 million by 2023, at a CAGR of 5.6%. The calcium propionate market has been segmented on the basis of application, form, and region. On the basis of application, the calcium propionate market has been segmented into food, feed, and others (pharmaceuticals and agriculture). This market has also been segmented on the basis of form into dry and liquid. On the basis of key regions, the calcium propionate market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW), which includes South America and the Middle East & Africa.
The growth of the calcium propionate market is driven by the growing concerns about food and feed safety and shelf life stability which have resulted in the demand for calcium propionate for various food products.
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The growth of the calcium propionate market is driven by factors such as food security, increasing demand for livestock-based products, which translates into the resultant demand for calcium propionate in order to avoid food spoilage and wastage. The high-growth potential in the emerging markets and untapped regions provide new growth opportunities for market players. However, increasing demand for food products devoid of synthetic preservatives and stringent government regulations are expected to restrain the market growth over the next few years.
• Functional Potential of Calcium Propionate in New Product Lines
• Cost-Effective Preservation Solution
• Increasing Health Concerns of Consumers in the Food Industry
• Increasing Demand for Food Products Devoid of Synthetic Preservatives
• Stringent Regulations
• Untapped Emerging Markets
• Technological Advancements to Develop New Product Lines
• R&D & Innovations to Strengthen Demand
• Competition From Substitutes
On the basis of application, the feed segment is projected to be the fastest-growing market for calcium propionate. Calcium propionate helps combat microbial pathogens in various feed and raw materials, thereby enhancing the shelf life of feed products. The growth in the usage of calcium propionate for feed preservation is linked to a large extent to its cost-effectiveness as compared to other preservatives such as sodium propionate, sorbic acid, and sorbates.
Based on form, the dry segment is projected to be the larger and faster-growing segment between 2018 and 2023. Dry calcium propionate has more advantages such as ease of mixing and better dispersion throughout the food matrix; additionally, dry calcium propionate does not affect the leavening action of baking powder in bakery products when compared to the liquid form. It is hence used in several applications such as bakery products, frozen desserts, meat processing, and feed.
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The Asia Pacific region is projected to be the fastest-growing market for calcium propionate between 2018 and 2023. Asia Pacific presents tremendous opportunities for calcium propionate and its end-use applications. China has emerged as a recent exporter of calcium propionate for the food and feed industry. Factors such as rapid urbanization, high disposable incomes, strong demand for processed foods, coupled with a low cost of production, position China as a strong consumption and production hub.