Market Trends of Calcium Propionate Industry
Increasing Demand from the Food and Beverage Sector
- Calcium propionate is often used as a food preservative. It does this by stopping microorganisms from growing and reproducing, which makes the food last longer.
- It is used to make bread, tortillas, pizza dough, pastries, breakfast cereals, pasta, noodles, and desserts with a lot of fat in them.Additionally, calcium propionate is also used in sports drinks, diet foods, and beverages for preservation.
- The demand for processed and ready-to-eat foods, like burgers, hot dogs, toast, pizza, cakes, and other such products, is rising worldwide as increasingly time-pressed consumers have embraced the convenience of freezers and microwave cooking. Such demands are expected to positively impact the consumption of preservatives like calcium propionate in the forecast period.
- In the past few years, the world's population has grown, which has led to a lot of growth in the food and drink industry.This growth of the food and beverage industry is a major driving factor for the market studied.
- According to the US Census Bureau, food and drink stores in the US were expected to make about USD 76.3 billion in monthly sales in March 2022.
- In addition to that, the monthly retail sales from food and beverage stores represented a 10% rise over the previous month, February 2022. Thus, with the expanding food and beverage industry the studied market is expected to grow significantly during the forecast period.
- All the aforementioned factors are likely to increase the demand for the Calcium Propionate market over the forecast period.
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Asia-Pacific to Witness the Fastest Growth
- Calcium propionate is used in numerous applications in the pharmaceutical, food and beverage, and animal feed industries due to its antimicrobial properties.
- The increasing demand for animal feed is also boosting market demand in Asia-Pacific from countries such as China and India. The demand for food derived from animals across the world has been increasing at a fast pace. Commercial livestock production and their associated food chains have fulfilled the surge in this demand.
- The growing pharmaceutical industry in Asia-Pacific is further increasing the demand for calcium propionate from the medical and pharmaceutical sectors.
- China has the largest pharmaceutical industry in the world. In China, the State Food and Drug Administration released the "Statistical Report on Drug Supervision and Administration; according to which the number of medical device manufacturers in China reached 27,496 in the first half of 2021, representing an increase of 3.8% compared to the previous year. Thus, the expanding pharma sector is likely to support the growth of the calcium propionate market during the forecast period.
- Further, the growing food and beverage industry is expected to boost market growth in the region. According to the United States Department of Agriculture, the total consumption value of organic packaged food and beverages in India in 2021 amounted to USD 96 million. This was an increase from the previous year's total consumption value of USD 85 million.
- Because of all of these things, the calcium propionate market is expected to grow in the Asia-Pacific region.
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