Global Trends in Preservative Calcium Propionate Market27 June 2014
The calcium propionate market is a promising segment within the preservative segment of the food processing industry.
A report on the trends in the Calcium Propionate Market by Applications Published by Markets and Markets estimates the market size of the global market in terms of revenue and volume.
Bakery, feed, dairy, meat and processed meat, and various other food products are the major end-uses of calcium propionate.
Bakery dominates the market share in terms of value as well as volume. In terms of geography, the report is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
With a huge market potential in new product lines such as dairy products, convenience food and other lifestyle products such as sauces, condiments, salads, etc. and a growing preference for products with an extended shelf life, the market is likely to witness a substantial growth over the next few years.
The global market is projected to grow at a CAGR of six per cent from 2013 to 2018. Bakery also dominates the global market in terms of end-uses accounting for nearly 70.3 per cent of the total market share and is projected to grow at a CAGR of 5.4 per cent from 2013 to 2018.
Feed accounted for the second largest share in the segment and is the fastest growing application with a CAGR of 7.7 per cent. Dairy and Meat products are growing at a CAGR of 7.5 per cent and 6.9 per cent respectively.
Other food applications are expected to exhibit a promising growth in future and are growing at a CAGR of 6.4 per cent.
The bakery sector has dominated the demand for calcium propionate, globally.
However, feedstock preservation has been the key driver for the market and will continue to be so.
Consumer penchant for fresh foods and cost-effective solutions, are a few of the key factors that drive the segment's increasing demands for calcium propionate.
Further, the application of modern food processing techniques drives the expansion of food production and new product development in diverse segments such as dairy, processed meat, ready-to-eat food products, sauces, salads etc., and this is likely to spur the growth of the market.
The demand comes from emerging markets such as Brazil, Russia, South Africa, China, India, and several other developing regions.
These economies are expected to dominate the market over the coming years.
The North American and European markets are approaching maturity in this industry, owing mainly to saturated end-use markets.
However, the European market has given a minute boost by Eastern European countries. Manufacturers have focused on various R&D and innovation investments to launch new products.
Calcium propionate has suited the requirements of manufacturers in the bid to develop a wider range of 'better-for-you' products.