July 25, 2024
Food Grade Calcium Chloride Market

Projected To Boost The Growth Of Food Grade Calcium Chloride Market

The global 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 a coalescing and coagulating agent used in multiple food products like bakery goods, canned meat, canned vegetables, cheeses, and dairy products. It maintains the firmness of baked goods and cheese, prevents crystallization in canned foods, and improves texture and consistency of food products. It is approved by food safety authorities worldwide like FDA and EFSA as a food additive and is considered safe for human consumption.

Market key trends:

One of the key trends in the food grade calcium chloride market is its increasing demand from packaged and processed food industry. Rapid urbanization and changing lifestyles have increased the demand for packaged and ready-to-eat foods which require additives like calcium chloride to increase shelf life and consistency. Additionally, rising health consciousness is fueling the demand for fortified and nutritious food products where calcium chloride acts as an important coagulating agent. The permissible levels of calcium chloride addition in different food products prescribed by authorities worldwide is also supporting the market growth. Moreover, approval for new applications of calcium chloride like pickling agent and preservative is expecting to present new opportunities for market players over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the food grade calcium chloride market is low as it requires high capital to establish manufacturing facilities and distribution channels. Also, established brands have strong customer loyalty.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products. Buyers can switch to alternatives if pricing is high.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required for production are commodity chemicals available from multiple sources.

Threat of new substitutes: The threat of new substitutes is moderate as calcium chloride has applications that are difficult to replace. However, alternatives like calcium carbonate are available.

Competitive rivalry: The competitive rivalry in the market is high due to many established brands competing on pricing and product differentiation.

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 demand from food processing applications.

The food & beverages segment accounted for the largest share of the global food grade calcium chloride market in 2023. Food grade calcium chloride widely used as a firming agent in processed foods, canned vegetables and seafood, and dairy products.

Regionally, Asia Pacific dominated the global market and will exhibit the fastest growth during the forecast period. This attributes to the expanding food processing industry, large population, and rising disposable incomes in countries such as China and India.

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. Major players are focusing on capacity expansion plans to cater to the growing demand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it