Calcium Propionate Market Size, Share, Competitive Landscape and Trend Analysis Report, by Form, by Grade, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2033

Key Market Dynamics

The rapid expansion of the personal care and cosmetics sector is expected to significantly foster the growth of the calcium propionate market. Calcium propionate, a key preservative widely used in food and cosmetics, inhibits the growth of mold and prolongs shelf life, addressing consumer demand for safer and longer-lasting products. Incorporating calcium propionate into formulations ensures product stability and safety, meeting stringent regulatory requirements as the personal care industry continues to innovate and expand. For instance, according to the International Trade Administration (ITA) , the beauty and personal care sector in Thailand increased from $6.2 billion in 2018 to $8.0 billion in 2022, marking a projected growth rate of 7.8% from 2019 to 2022. Furthermore, according to L’OREAL Annual Report 2021, the beauty sector of L’OREAL rose by 8.2% in the year 2021, after a sharp decline of 8% in 2020.

Moreover, increasing consumer awareness about the benefits of natural and sustainable ingredients further drives the adoption of calcium propionate. Market dynamics indicate a robust growth trajectory for calcium propionate, propelled by its multifunctional benefits in preserving the quality and integrity of personal care and cosmetic products amid a competitive landscape focused on product safety and efficacy.

The growth of the calcium propionate market is expected to be hampered by the availability of substitutes and rising concerns related to its use. Substitutes such as sodium propionate and potassium sorbate, which offer similar preservative benefits, pose a competitive threat by providing alternative options for manufacturers and consumers. In addition, growing health consciousness and regulatory scrutiny over food additives are leading to increasing concerns about the potential impacts of calcium propionate on human health. This has prompted a shift towards natural and organic preservative solutions, which are perceived as safer and more environmentally friendly. As a result, these factors contribute to a slowing growth trajectory for the calcium propionate market, with consumers and businesses alike exploring alternatives that align with current health and sustainability trends.

The rising health consciousness among consumers is expected to significantly drive the growth of the calcium propionate market. There is a growing preference for preservatives that offer both safety and health benefits as people become aware of the impact of food additives on their well-being. Calcium propionate, a commonly used preservative in bread and baked goods, is valued for its ability to inhibit mold and bacterial growth while being considered a safer alternative to some chemical preservatives. This increased focus on healthier food options is prompting manufacturers to incorporate calcium propionate to enhance the shelf life of products without compromising health. In addition, the demand for clean-label and natural ingredients in food products is further boosting the market growth, as calcium propionate meets these consumer demands effectively. Consequently, the market for calcium propionate is anticipated to experience robust growth driven by heightened health awareness and cleaner ingredient trends.

Patent Analysis of the Global Calcium Propionate Market

In the calcium propionate market, China dominates with a substantial share of 65.5%, reflecting its significant role in production and consumption. The UK follows with 20.2%, indicating a strong presence in the European market. The U.S. holds 4.1%, while Japan contributes 2.6%, suggesting notable but smaller market footprints. The PCT (Patent Cooperation Treaty) accounts for 2.1%, highlighting its role in international patent filings. Europe, excluding the UK, represents 1.5%, and South Korea and Canada each have a 1.3% and 1.0% share, respectively. Russia and India each hold 1.0% and 0.6%, illustrating minor but existing contributions. This distribution highlights China's leading influence and the varying levels of market activity across regions.

Market Segmentation

The calcium propionate market is segmented into form, grade, application, and region. By form, the market is classified into powder, granular, and liquid. By grade, the market is divided into food grade, feed grade, pharmaceutical grade, and industrial grade. By application, the market is categorized into animal feed, food and beverages, agrochemicals, pharmaceuticals, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competitive Landscape

The major players operating in the calcium propionate market include Cargill, Incorporated., Fine Organic Industries Limited., Perstorp Holding AB, AB Mauri Malaysia, Kanha Life Science Llp, Eastman Chemical Company, Kemin Industries, Inc., Macco Organiques, s.r.o., A.M FOOD CHEMICAL CO., LIMITED, Calpro Specialities.

Recent Key Strategies and Developments

• In October 2023, BASF SE received regulatory approval from the European Food Safety Authority (EFSA) to use calcium propionate as a preservative in animal feed. This approval enables BASF to expand its product's use in the European market.
• In March 2023, BioVeritas developed a clean-label mold inhibitor using the BioVeritas Process. Their calcium propionate cultured extract extends shelf life by nearly 30% compared to traditional petrochemical-derived calcium propionate.
• In April 2022, Perstorp is set to increase its carboxylic acid production capacity by approximately 70, 000 tons per year. This expansion will significantly enhance their calcium propionate production at their Italian facility, with the additional capacity expected to be operational as early as 2024.
• In February 2022, ABF Ingredients acquired Fytexia Group, a life science company specializing in scientifically supported active nutrients for dietary supplements. This acquisition will strengthen ABF Ingredients' product range and capabilities in the pharmaceutical, nutritional, and food sectors.
• In June 2021, Kerry Group, an Irish food ingredients company, purchased Niacet from private equity firm SK Capital Partners for approximately $1 billion. Niacet, the largest manufacturer of organic acid salts in North America, including sodium acetate and calcium propionate, specializes in food preservation and other applications.

Regional Market Outlook

Asia-Pacific is experiencing robust economic growth. The calcium propionate market in the Asia-Pacific region is poised for growth due to its expanding applications across various industries. Increasing use in pharmaceuticals, where it serves as an effective preservative, along with its rising demand in the food and beverage sector for improving shelf life, is fueling market expansion. In addition, its application in animal feed as a feed additive to prevent mold and spoilage further drives market growth. The diverse applications underscore the significant potential for market development in this region.

• China boasts the largest pharmaceutical industry globally. According to the State Food and Drug Administration's "Statistical Report on Drug Supervision and Administration, " the number of medical device manufacturers in China reached 27, 496 in the first half of 2021, marking a 3.8% increase from the previous year. This growth in the pharmaceutical sector is expected to drive the expansion of the calcium propionate market during the forecast period.
• The expansion of the food and beverage industry is anticipated to drive market growth in the region. The United States Department of Agriculture reports that India's consumption of organic packaged food and beverages reached $96 million in 2021, up from $85 million the previous year.
• According to the India Brand Equity Foundation (IBEF) , the Indian pharmaceuticals sector is projected to grow to $65 billion by 2024 and expand further to between $120 billion and $130 billion by 2030. Meanwhile, the International Trade Administration reports that the global pharmaceuticals market was valued at $1 trillion in 2015 and is expected to reach $1.3 trillion by 2020.
• Therefore, Asia-Pacific is projected to emerge as a dominant force in the calcium propionate market throughout the forecast period.

India's Booming Pharmaceutical Industry will Boost the Growth of the Calcium Propionate Market in Asia-Pacific

The developing pharmaceutical industry in India is significantly driving the growth of the calcium propionate market in the Asia-Pacific region. With India's expanding healthcare sector and increasing demand for preservatives and stabilizers in pharmaceutical formulations, calcium propionate's role as a reliable antimicrobial agent is becoming more prominent. This trend is further supported by the rising production and consumption of pharmaceutical products in the region, enhancing the market's potential for calcium propionate as a crucial ingredient.

According to the Indian Economic Survey 2021, the domestic pharmaceutical market is projected to triple in the next decade. It was valued at $42 billion in 2021, with expectations to reach $65 billion by 2024 and further grow to $120-130 billion by 2030.

Globally, India is a major and growing player in the pharmaceuticals sector. As the largest supplier of generic medications, India provides 20% of the world's supply by volume and meets about 60% of global vaccine demand. The Indian pharmaceutical industry, valued at $42 billion, experienced nearly 5% growth year-on-year in FY23, reaching $49.78 billion. From FY18 to FY23, it achieved a compound annual growth rate (CAGR) of 6-8%, driven by an 8% increase in exports and a 6% rise in the domestic market.

Industry Trends

• The calcium propionate market has been experiencing significant growth due to evolving consumer preferences and advancements in food preservation technologies. Calcium propionate, a commonly used preservative in the food industry, extends the shelf life of baked goods and inhibits mold and bacterial growth. A key trend driving the market is the increasing demand for natural and clean-label ingredients. Consumers are becoming more health-conscious and are looking for preservatives that are perceived as safer and more natural. This shift has led manufacturers to focus on promoting the benefits of calcium propionate as a non-synthetic option compared to other chemical preservatives.
• Moreover, the rise in the consumption of convenience foods and ready-to-eat products has further boosted the demand for calcium propionate. For instance, its use in bread, cakes, and pastries ensures longer freshness and reduces food wastage. The Food & Drink Federation reports that the food and beverage sector in the UK contributed $35.60 billion to the economy in 2021, reflecting a 4.3% growth from 2020. Similarly, Food Export indicates that the packaged food market in Mexico was valued at $54.8 billion in 2020, with projections suggesting it will reach $75 billion by 2025, marking a 28.5% increase.
• The global population growth in recent years has driven significant expansion in the food and beverage industry. This sector's growth is a major factor propelling the market under consideration. According to the US Census Bureau, food and drink stores in the U.S. were projected to achieve approximately $76.3 billion in sales for March 2022.
• In addition, retail sales from food and beverage stores saw a 10% increase in March 2022 compared to February 2022. As the food and beverage industry continues to expand, the market in question is anticipated to experience substantial growth during the forecast period.

Key Sources Referred

1. Our World In Data
2. The State Food and Drug Administration
3. The United States Department of Agriculture
4. India Brand Equity Foundation (IBEF)
5. Indian Economic Survey 2021
6. International Trade Administration (ITA)
7. The Food & Drink Federation
8. The US Census Bureau

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the calcium propionate market analysis from 2024 to 2033 to identify the prevailing calcium propionate market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the calcium propionate market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global calcium propionate market trends, key players, market segments, application areas, and market growth strategies.