Food Grade Calcium Chloride Market: Growing Demand for Improving Food Quality Drives Market Growth

Food Grade Calcium Chloride Market
Food Grade Calcium Chloride Market



The global food grade calcium chloride market is estimated to reach a value of US$ 679.4 Mn in 2021 and is projected to grow at a CAGR of 6.8% during the forecast period 2023-2030. The market research report published by Coherent Market Insights highlights the key trends and market drivers that are expected to shape the growth of this market.

Market Overview:
Food grade calcium chloride is a white crystalline powder used as a food additive to improve the quality and shelf life of various food products. It is used as a firming agent, flavor enhancer, and preservative in food processing. The advantages of using food grade calcium chloride include its ability to enhance the texture of food products, prevent microbial growth, and maintain food freshness. With the increasing demand for high-quality food products, the market for food grade calcium chloride is expected to witness significant growth.

Market Key Trends:
One key trend in the Global Food Grade Calcium Chloride Market is the growing use of calcium chloride as a food preservative. Calcium chloride helps in preventing food spoilage by inhibiting the growth of bacteria and fungi. It has antimicrobial properties that extend the shelf life of food products, especially fruits and vegetables. The use of calcium chloride as a natural preservative aligns with the rising consumer preference for clean label and natural food products. This trend is expected to drive the demand for food grade calcium chloride in the coming years.
Porter’s Analysis

Threat of New Entrants: The threat of new entrants in the food grade calcium chloride market is low. The market is characterized by high entry barriers, including stringent regulations and high capital investment required for setting up production facilities. Additionally, established players in the market have strong brand recognition and customer loyalty, making it difficult for new entrants to gain a significant market share. Therefore, the threat of new entrants is minimal.

Bargaining Power of Buyers: The bargaining power of buyers in the food grade calcium chloride market is moderate. While buyers have access to several suppliers in the market, the differentiated quality of products and the limited number of key players give them some bargaining power. However, the market is not heavily dominated by buyers, as there is a significant demand for food grade calcium chloride in various industries. Therefore, the bargaining power of buyers is moderate.

Bargaining Power of Suppliers: The bargaining power of suppliers in the food grade calcium chloride market is also moderate. The market relies on a few key suppliers for the raw materials required for production. However, there is also a presence of several suppliers in the market, providing some leverage to buyers. Additionally, the availability of substitute raw materials further weakens the suppliers' bargaining power. Therefore, the bargaining power of suppliers is moderate.

Threat of New Substitutes: The threat of new substitutes in the food grade calcium chloride market is low. Calcium chloride is widely used in various industries, including food and beverage, construction, and pharmaceuticals, due to its unique properties. The availability of alternative substances with similar characteristics is limited, making it difficult for substitutes to gain traction. Therefore, the threat of new substitutes is minimal.

Competitive Rivalry: The competitive rivalry in the food grade calcium chloride market is moderate. The market is fragmented with the presence of several key players, both global and regional. These players compete based on product quality, price, and distribution network. However, the market is not heavily saturated, and there is room for growth. Therefore, the competitive rivalry is moderate.

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 (2023-2030). The increasing demand for processed food and beverages, coupled with the rising adoption of calcium chloride for food preservation, is driving the market growth. Additionally, the use of calcium chloride in the construction industry for concrete maintenance and de-icing applications is further fueling market growth.

In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the food grade calcium chloride market. The region has a strong presence of key players and a well-established infrastructure for food processing. Furthermore, the growing demand for packaged and convenience food in the region is driving the market growth.

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 players are focusing on product development, mergers and acquisitions, and collaborations to strengthen their market position and expand their product offerings.

In conclusion, the food grade calcium chloride market is poised to experience substantial growth in the coming years, driven by increasing demand from the food and construction industries. North America is expected to be the fastest-growing region, and key players are taking strategic initiatives to maintain their market dominance.

 

Read More: https://www.trendingwebwire.com/global-hair-removal-devices-market-is-estimated-to-witness-high-growth/

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