by The food grade calcium chloride market is estimated to be valued at US$ 774.94 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Food grade calcium chloride is used as a firming agent, process regulator, stabilizer and coagulant for various food products and beverages. It is used as a preservative to maintain firmness in fruits like apples and also enhances the flavor of canned vegetables. Food grade calcium chloride maintains texture and acts as a firming agent in bakery products like bread and biscuits. It is also used as a nutrient supplement in animal feed.
Market Dynamics:
Increasing demand for packaged and preserved food: With busy lifestyles, consumption of packaged, preserved and convenience foods has increased significantly which has augmented the demand for food grade calcium chloride as a preservative and firming agent. It enhances the shelf life of various products.
Rising meat consumption: Meat consumption has grown globally with increasing disposable incomes. Food grade calcium chloride is widely utilized as a nutrient supplement in animal feed to enhance growth and production of livestock which is driving the market growth. Food grade calcium chloride supports bone and tissue development in animals.
Segment Analysis
The global food grade calcium chloride market is segmented based on form and application. On the basis of form, the market is segmented into flakes 77% and prills 94%. Among these, the prills 94% segment dominates the market as it is widely preferred in various industrial applications such as ice and dust control, and as a firming agent in canned vegetables, due to its convenient handling and storage properties.
PEST Analysis
Political: Food grade calcium chloride Market is regulated by various food regulatory bodies across the globe regarding purity levels and applications. Any changes in regulations can impact the market.
Economic: Rising global GDP and increasing disposable incomes in developing nations have been fueling the growth of the food processing industry, which in turn drives the demand for food grade calcium chloride as a firming and texturizing agent.
Social: Changing consumer preferences towards processed and canned food products due to busy lifestyles have increased the demand for food grade calcium chloride as a firming agent.
Technological: Advancements in processing techniques help manufacturers develop new forms of food grade calcium chloride with improved properties and efficiencies.
Key Takeaways
The Global Food Grade Calcium Chloride Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period 2023 to 2030, due to increasing demand from food processing industries. The market size for 2023 is estimated to be US$ 774.94 Mn.
Regional analysis: North America dominates the global food grade calcium chloride market followed by Europe and Asia Pacific. The US accounts for the largest market in the North American region due to high demand from food industries. China is expected to be the fastest growing market in the Asia Pacific region supported by increasing food processing activities in the country.
Key players operating in the food grade calcium chloride market are Solvay S.A., Tokuyama Corporation, Occidental Petroleum Corporation, Ward Chemical Ltd., Tata Chemicals Ltd., TETRA Technologies, Inc., Zirax Limited, Weifang Yuze Chemical Co., Ltd., Mey Chern Chemicals Sdn Bhd., Anmol Chemicals Group, TCI Sanmar Chemicals S.A.E., and Weifang Haibin Chemical Co., Ltd. The key players are focusing on capacity expansion plans to sustain intense market competition.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
