Published Date : Apr 27, 2016
Calcium propionate is an exceptionally important additive used in the food industry as it acts a preservative, thereby increasing the shelf life of several products. The changing consumer lifestyles and shifting food habits has created a huge demand for preserved food items, which in turn has given the overall calcium propionate market an incredible boost.
The global calcium propionate market is segmented on the basis of application and geography. On the basis of applications, this market is divided into dairy, bakery, meat processing, animal feed, beverages, packaged food products, and others such as plant pesticides and grain protection. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Bakery Segment to Lead Overall Market
Out of all these applications, the bakery sector was the largest consumer of calcium propionate, contributing nearly 58% of the total revenue earned by the global calcium propionate market in 2014. According to research analysts, the global calcium propionate market is expected to rise at a CAGR of 4.5% between 2015 and 2023 as it is widely used in bakery items for enhancing shelf life of the products. The reason why bakers use calcium propionate is because it can be mixed with flour and thus can be used as a preservative. Calcium propionate prevents formation of rope and mold in baked goods.
Europe to Remain Biggest Consumer of Calcium Propionate
Geographically, Europe held the largest share in the overall calcium propionate market, accounting for nearly 37% share in the overall market. An exponentially growing demand for easy to make food items, ready to eat food items, and baked food items from countries such as France, Germany, and Italy is driving the growth of this market in European region.
Asia Pacific Shows Promise of Good Growth Rate
North America held the second-largest share in the overall calcium propionate market in 2014. The demand in this region is also expected to experience a boost due to the growing demand for preserved food items and food security. Asia Pacific will also show the promise of a good growth rate in the coming years due to rising disposable incomes and changing lifestyles of consumers.