London, March 06, 2024 (GLOBE NEWSWIRE) -- In a groundbreaking forecast, the global calcium propionate market is set to witness a substantial revenue surge from US$377.9 Mn in 2022 to a staggering US$564.5 Mn by 2030. Marked by a robust CAGR of 5.9% from 2023 to 2030, the market is majorly propelled by a remarkable surge in processed and convenience food consumption over the recent past.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 to 2030 | |
| Market Size in 2022 | US$377.9 Bn | |
| Estimated Market Size in 2030 | US$564.5 Bn | |
| CAGR | 5.9% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The capability of calcium propionate in thwarting mold growth and extending the shelf-life of dairy and baked goods positions it at the forefront of the market's expansion. The bakery sector emerges as the powerhouse, dominating the market due to calcium propionate's widespread application in preserving baked products, says the report.
“Meanwhile, the Asia Pacific region spearheads the market's rapid expansion, fueled by shifting dietary choices, rising disposable incomes, and population growth,” explains the company’s analyst while discussing the regional dynamics of calcium propionate, adding further, “North America solidifies its position as the largest market, driven by a well-established food and beverage industry and a significant consumer demand for packaged and processed goods”.
Consumers' increasing focus on clean-label products propels the market, as calcium propionate becomes a preferred choice for food producers aiming to meet evolving consumer needs. Simultaneously, tightening food safety regulations worldwide contribute significantly to the industry's growth, as governments emphasize the importance of quality and safety throughout the food supply chain.
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Key Research Insights
- Dry form remains most favoured, with a market share of around 45%.
- Application-wise, bakery holds a dominant share of 34.8%.
- North America's pre-eminence continues, with the market share of over 43.5%.
Insights into Segmentation Analysis
Dry vs. Liquid Indulge in the Battle for Supremacy
- The calcium propionate market witnesses a dynamic tussle between its dry and liquid forms, with each boasting unique advantages.
- In 2022, the dry form takes center stage, favoured for its extended shelf-life, affordability, and ease of handling. Meanwhile, the liquid variant experiences rapid growth, driven by its simplicity of use and adaptability in liquid-based food items.
- The dry form's stronghold stems from its unparalleled ease of storage, transportation, and integration into various food formulas, securing its position as the preferred choice among food makers.
- Liquid calcium propionate emerges as the fastest-growing type, gaining traction for its homogenous dispersion, making it ideal for liquid-based products.
- As consumer demand for preserved liquid items rises, the liquid form continues to expand its market share.
Bakery Rules the Roost, Animal Feed Emerges as the Dark Horse
- The calcium propionate market's consumer landscape is defined by the dominance of the bakery sector in 2022, while the animal feed sector gears up for the fastest uptake by 2030.
- The report points to bakery brilliance, stating the bakery sector will continue to take the lead due to calcium propionate's efficacy in inhibiting mold growth, and extending shelf-life in bread and pastries.
- A constant demand surge for calcium propionate persists globally, driven by the enduring popularity of baked goods in daily diets.
- As far as the animal feed acceleration is concerned, Fairfield Market Research anticipates the fastest expansion.
- The animal feed sector gains prominence as consumers typically prioritise animal nutrition and welfare. Calcium propionate's role in improving feed quality by inhibiting pathogenic microorganisms positions it as a critical component in the rapidly growing livestock industry.
Key Report Highlights
- The calcium propionate market showcases remarkable resilience, thriving in the face of rapid urbanisation, and the global shift toward processed foods. This growth is a testament to its crucial role in meeting the demands of an ever-busy urbanized world.
- The strategic entry of the market into emerging regions presents a golden opportunity for businesses. Leveraging the demand for preserved food items in Latin America, and the Asia Pacific region, companies can forge alliances with regional producers, tapping into a burgeoning customer base.
Insights into Regional Analysis
The North American Prowess Continues
- In the battle for regional dominance, North America emerges as the current leader, driven by a robust food industry, while Asia Pacific experiences unprecedented growth, fueled by shifting consumer lifestyles and burgeoning demand for processed and preserved foods.
- In 2022, North America commands the largest market share, attributed to a thriving food industry where processed and packaged products remain a staple.
- A strong supply chain, stringent food safety laws, and persistent consumer demand contribute to the region's dominance.
Asia Pacific Grows at Breakneck Speed
- The report foresees a meteoric rise for Asia Pacific. The region emerges as the growth powerhouse, propelled by increasing disposable income, evolving consumer lifestyles, and a rising appetite for convenience.
- The region's move toward urbanization fosters a demand for shelf-stable and convenient food options, making it the fastest-growing market globally.
- As the calcium propionate market evolves, the tussle between dry and liquid forms intensifies, catering to diverse consumer needs.
- The bakery sector remains steadfast, while the animal feed category emerges as a dark horse. In the regional arena, North America retains its lead, but Asia Pacific's rapid ascent signals a transformative phase.
- The calcium propionate market is poised for unprecedented growth, with each segment and region contributing to its dynamic narrative.
- Industry players must navigate these nuances strategically to seize the abundant opportunities on the horizon.
Key Players in Global Calcium Propionate Market
- ADDISON
- Niacet
- Impextraco
- Macco Organiques
- Kemin Industries
- Krishna Chemicals
- Bell Chem
- Associated British Foods Plc
- AM Food Chemicals
- Fine Organics
Global Calcium Propionate Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Form Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/calcium-propionate-market
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