by The Global Food Grade Calcium Chloride Market is estimated to be valued at US$ 679.4 Mn in 2021 and is expected to exhibit a CAGR of 6.8% over the forecast period, 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Food grade calcium chloride is widely used in the food and beverage industry as a food additive and preservative. It is commonly used as a firming agent, thickener, and stabilizer in various food products such as cheese, canned fruits and vegetables, and sports drinks. Additionally, it is also used in the production of tofu, pickles, and for flavor enhancement in canned tomatoes. The pharmaceutical industry also utilizes food grade calcium chloride for various purposes, including as a drying agent and nutrient supplement in medicines.
Market Dynamics:
The food and beverage industry is experiencing significant growth due to changing consumer preferences and emerging trends. The demand for processed and packaged food products is increasing, thereby driving the demand for food grade calcium chloride. Moreover, the growing application of food grade calcium chloride in the pharmaceutical industry, particularly in the production of tablets and capsules, is further fueling market growth. The abundance of calcium chloride in nature and its cost-effectiveness are additional factors contributing to the market’s expansion.
SWOT Analysis:
Strength:
– Food grade calcium chloride market has a strong demand due to its wide range of applications in the food and beverage industry, including food preservation, flavor enhancement, and firming agent.
– It is a cost-effective option for food processing companies and offers superior quality and performance in various food applications.
– The market is driven by the increasing demand for processed and packaged food products, particularly in developing countries, which is boosting the growth of the food grade calcium chloride market.
Weakness:
– Food grade calcium chloride market is highly dependent on the food and beverage industry, which can be affected by changing consumer preferences and dietary trends.
– The market is also faced with challenges related to potential health concerns associated with excessive consumption of calcium chloride in food products, which may impact its adoption in certain regions or by health-conscious consumers.
Opportunity:
– There is a growing trend of clean label and natural food ingredients, which creates an opportunity for manufacturers to develop and promote food grade calcium chloride as a natural and safe food additive.
– The market can also benefit from the increasing demand for calcium-fortified food and beverages, driven by the rising awareness about the importance of calcium in maintaining bone health and preventing osteoporosis.
Threats:
– The food grade calcium chloride market faces competition from other food additives and alternatives, such as citric acid and other mineral salts, which may limit its market growth.
– Regulatory restrictions and guidelines related to the use of calcium chloride in food products, particularly in certain regions or countries, can pose a threat to the market expansion.
Key Takeaways:
The global food grade calcium chloride market is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period (2021-2028), due to the increasing demand for processed and packaged food products. In terms of regional analysis, Asia Pacific is the fastest growing and dominating region, driven by the growing population, changing dietary habits, and increasing disposable income in countries like China and India. Key players operating in the food grade calcium chloride market include 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. These key players are focusing on product innovation, expansion of production capacity, and strategic partnerships to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
