Buoyed by Demand from Bakeries, Global Calcium Propionate Market Rises at 4.9% CAGR
Albany, NY -- (SBWIRE) -- 09/06/2018 -- A report by Transparency Market Research predicts the global calcium propionate market to rise at 4.9% between 2017 and 2023 to become worth US$480.3 mn by 2023-end. The market was valued at US$360.4 mn in 2017-end.
Depending upon applications or end use, bakeries currently generate maximum demand in the global calcium propionate market. As per the TMR report, the segment would clock almost US$270.3 mn in revenue by 2023-end. From a geographical standpoint, Europe has been seeing a steady rise in demand in the calcium propionate market. This is mainly in account of the rising demand for ready-to-eat foods in the U.K., Italy, and France. Demand has also risen on account of curbs on sales of other preservatives. By end of 2023, the Europe calcium propionate market is expected to generate revenue to the tune of US$175.9 mn, states our report.
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Busy Lifestyle Promoting Popularity of Ready-to-eat Foods Proves A Boon for Market
Foremost demand driver in the global calcium propionate market is the increasingly hectic schedules of people. This has left them with little time to cook elaborate meals in their kitchens thus leading to surging demand for ready-to-eat foods, canned foods, and preserved foods. All such kinds of food require preservatives such as calcium propionate to prolong their shelf lives. The lead analyst of our report explains in details, "Calcium propionate is a useful anti-microbial preservative and is a great solution to the increasing concerns for food-borne illnesses."
Thus calcium propionate is being used in various areas such as dairy, animal feed, meat processing, packaged food products, beverages, grain protection, and plant pesticides apart from bakery products. Besides, the lesser manufacturing cost is also helping to boost the market.
The global calcium propionate market is consolidated with the leading players accounting for a substantial two third share in it. Some such leading players are Niacet Corporation, Perstorp Holding AB, and Kemira. These players have come to hold a prominent position in the market through their solid distribution channels all across the globe. They also hold a sway over the market because of their diversified product portfolios. Most of them, however, are mainly focused on supplying calcium propionate to bakeries.
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Rising Awareness of Fresh Foods Poses Challenge to Growth
Despite its numerous uses, the global calcium propionate market is running into headwinds owing to the surging demand for fresh foods sans additives and preservatives. This is because of the rising tribe of health conscious consumers and advice by doctors to consume fresh healthy stuff for good health. Despite such hiccups, the global calcium propionate market is predicted to grow because of its preference over sodium propionate.