The global calcium propionate market size is expected to reach US$ X 568.5 Mn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.6% CAGR between 2020 and 2030. According to the report, increasing demand for preserved foods is driving market development, as calcium propionate acts as a preservative. Additionally, the consumer demand is powered by relatively low cost of calcium propionate compared with other food preservatives. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the calcium propionate market. Some of these are:
- Market value was valued at $US 300 Mn in 2020. The market is exhibited during the report’s forecast period to show a steady pace of growth.
- The calcium propionate market in North America is expected to dominate over the forecasted period.
- North America is the largest regional calcium propionate segment in the world, since bread consumption is enormous.
- The dry segment is expected to dominate the market with the highest CAGR.
- Increasing prices of acids and the shifting demand from preservative foods to the natural products are likely to impede the growth during the forecast era.
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The high demand for food products worldwide due to increasing per capita consumption, high demand for nutritious products and long shelf-life are the driving factors for the calcium propionate market. Growth strategies adopted by tier 1, 2 and 3 companies are likely to focus on these parameters to strengthen their foothold in the market,” said a lead analyst at FMI.
Emergence of COVID-19 will Impact Growth
Calcium propionate is used in bread, baked fruit, processed meat and many other dairy products as a preservative. It functions as an antimicrobial agent such that microorganisms such as viruses, bacteria, algae, and fungi are destroyed. Consequently, its demand in the market is rising, thus triggering market growth. Calcium propionate is prescribed to animals as a food supplement. The ever-growing food preservative field is rising global consumer demand for calcium propionate.
The sector has been hit by reports of a global Covid-19 pandemic. The COVID-19 spread has rattled financial markets and contributed to national layoffs. There are major challenges to personal lives, like curfews (or curfew-like situations) for a great many people. Beyond the immediate tragedies of death and disease, an uncountable number of people around the world are taking hold of indirect effects by fear. Coronavirus outbreak had a major impact on consumers ‘consumption habits. They are unlikely to buy meat goods imposed around various nations amid lockdowns. That will have an inevitably effect on market growth forecasts.
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Who is Winning?
The key market players in the calcium propionate market include Addcon GmbH, Niacet Corporation, Macco Organiques Inc., AB Mauri, Kemira, Perstorp Holdings AB, A.M. Food Chemicals Co. Ltd., Krishna Chemicals, and Impextraco NV. There is a high degree of competition among players operating in the global propionate calcium market. The industry is relatively competitive and dominated by major players. Participants in the industry are expected to invest in research and development to extend product lines and functionality.
Get Valuable Insights into Calcium Propionate Market
Future Market Insights, in its new report, presents an unbiased analysis of the global calcium propionate market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. The calcium propionate market has been segmented based on application and region. In terms of application, the market has been divided into bakery, dairy, meat processing, animal feed, beverages, packaged food products, and others. On the basis of form, the market has been divided into dry and liquid. Based on region, the market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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