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| 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.