New york, Nov. 21, 2019 (GLOBE NEWSWIRE) -- High preference of consumers towards the fresh food, increasing demand for food with proper hygiene due to large health concerns, the longer shelf life for food products, cost-effective alternative are key factors contributing to high CAGR of Calcium Propionate during forecast period.
According to the current analysis of Reports and Data, the global Calcium Propionate market was reported the value of USD 273.6 Million in 2018 and is expected to reach USD 426.2 Million by the end of the year 2026, at a CAGR of 5.7%. Calcium Propionate is added to different food products, as it helps to keep the food fresh by protecting it from mold and bacteria. It is produced with the process of fermentation of bacteria. Calcium Propionate acts as an antimicrobial agent. It helps to vanish microorganisms such as bacteria, algae, viruses, and fungi. Therefore, the calcium propionate is considered as the most ideal product used as a preservative in the bakery. Also, Calcium Propionate is utilized as a feed supplement to increase the shelf life of food products.
The calcium propionate is an organic salt propionic acid. It find in two forms, powder or liquid form. It is a source of energy for dairy transition cows. Calcium propionate is also used as a mold inhibitor in different dairy products, pharmaceuticals, livestock feed, cosmetics, and some other agricultural applications. It is used as a guarantee for safety of food. The use calcium propionate depends upon factors such as, climatic conditions, kind of product and other such factors.
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The large demand for food products across the globe due to increasing per capita consumption, the high demand for products which are good for health and having long shelf life these are the driving factors for the calcium propionate market. However, the cases of headaches, stomach ache have been reported by many consumers and also some cases witnessed the case of diabetes due to consumption of food involving use of calcium propionate as a preservative. Also, the rise in the prices of calcium propionate will create hindrance to the growth of the calcium propionate market.
On the basis of geographic perspective, North America is expected to dominate the calcium propionate market in the forecasted period. North America is the largest geographic segment for calcium propionate as bread consumption in the region is enormous. Recognized and established bakery industry, tight food regulations and upsurge in convenience food requirements have boosted the North American region's demand for calcium propionate market.
Further key findings from the report suggest
- Calcium propionate market is growing at a CAGR of 1% in Asia Pacific followed by North America and Europe, with 5.9 % and 5.6% CAGR, respectively. Increasing usage of preservative contents across the globe is the key factor to accelerate the growth during forecast period across all regions.
- On the basis of form perspective, the calcium propionate is subdivided into dry and liquid. The dry segment is estimated to dominate the market with the highest CAGR of 6%, and hold the largest share of 75%. The dry segment was valued at USD 205.2 million in 2018 and is expected to reach the value of USD 325.8 million by the end of the year 2026. Due to its easiness of mixing and properties of improved the dispersion all over the food matrix, its demand is growing.
- The food is the dominating the calcium propionate application segment which holds 40% of the global. The Asia Pacific is the chief revenue generating source for this product segment, followed by North America and Europe regions
- Livestock feed is expected to be the fastest growing segment during forecast period 2019-2026 with a CAGR of 6.1%. However, side effects associated with the product and expensive cost are major challenge for the growth of this market segment
- Other Application segment (that includes cosmetics, agriculture, chemicals) was valued at USD 32 Million in 2018 and is expected to reach the value of USD 48.2 Million by the end of the year 2026.
- North America is accounted for the 32% of the global calcium propionate market. The large demand for food & beverage industry in the area will likely to help witness growth.
- The Increasing prices of acids and the changing demand from preservative foods to the natural products are likely to hinder the growth during the forecast period.
- Key participants include Niacet Corporation, Addcon, Impextraco, Macco Organiques, Perstorp Holdings AB, Kemira Oyj, A.M. Food Chemicals Co. Ltd., Eastman Chemical Company, and Fine Chemicals.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Calcium Propionate market on the basis of Form, Application, and region:
Form (Volume in Kilo Tons; Revenue in USD Million; 2016–2026)
- Powder
- Liquid
Application (Volume in Kilo Tons; Revenue in USD Million; 2016–2026)
- Food
- Bakery Products
- Dairy Products
- Meat & Seafood
- Others
- Pharmaceutical
- Beverages
- Live Stock Feed
- Other Applications
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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