Food Grade Calcium Chloride Market Is Estimated To Witness High Growth Owing To Increasing Demand From Food & Beverage Industry
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 mainly used as a firming and thickening agent in various food applications. It is used to enhance texture and stability of processed foods and beverages. It is used in canned vegetables, canned seafood products, baked goods, bread, crackers etc. to improve texture and extend shelf life. It is also used as an anti-caking agent in milk powder, cheese powder and other dairy products. Calcium chloride helps in strengthening cell walls of fruits and vegetables thereby maintaining their firmness during transportation and storage.
Market Dynamics:
Rising demand from food & beverage industry: Food grade calcium chloride finds wide application in various food products as a texture enhancer, preservative and firming agent. Growth of the packaged and processed food industry is driving the demand for food grade calcium chloride. Increasing consumption of dairy products, baked goods, canned foods and seafood across the world is supporting the market growth.
Growing health consciousness: Calcium chloride acts as a good source of calcium for the body. Increasing health consciousness among consumers has led to rising demand for calcium enriched and fortified foods. This is positively impacting the food grade calcium chloride market. The mineral is easily absorbed in the body and supports bone health. Its use in various food products is boosting its demand.
SWOT Analysis
Strength: Food grade calcium chloride has a wide range of applications in food processing which drives its demand. It acts as a firming agent, texture enhancer and preservative in canned foods. Additionally, it improves the functionality of baked foods and enhances the shelf life of packaged foods. Food grade calcium chloride is stable, non-toxic and easily soluble in water which makes it suitable for various food applications.
Weakness: Rising raw material costs put pressure on the margins of food grade calcium chloride producers. Furthermore, stringent food safety regulations regarding the use of additives increase the compliance costs for companies.
Opportunity: Growing demand for packaged and convenience foods in developing countries offer significant growth opportunities for food grade calcium chloride. Furthermore, the increasing consumption of protein-rich foods which require calcium chloride as a processing aid also supports the market growth.
Threats: Volatility in raw material prices remain a major challenge. Substitute products like calcium lactate and glucono delta-lactone which perform similar functions also threaten the demand for food grade calcium chloride.
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, due to increasing consumption of packaged and convenience foods. Rising disposable incomes coupled with busy lifestyles drive the demand for ready-to-eat foods wherein calcium chloride finds extensive usage.
Regional analysis
North America dominated the global market in 2023 and is projected to continue its dominance during the forecast period. Growing demand for dairy and meat products in the region supported the demand for food grade calcium chloride. Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of over 7.5% during the forecast period. Rapid urbanization, rising living standards and growing middle class population in countries such as China and India are propelling the demand.
Key players
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.