(Food-Beverage-News.Com, February 10, 2020 ) The calcium propionate market is projected to grow at a CAGR of 5.6%, to reach a value of USD 363.3 million by 2023 from USD 277.1 million in 2018. The key players profiled in the report have a strong presence in the global calcium propionate market; these include Niacet (US) ADDCON (Germany), Impextraco (Belgium), and Macco Organiques (Canada).
These players adopted growth strategies such as expansions, acquisitions, certifications, and partnerships to cater to the increasing demand for calcium propionate. Companies have been expanding their operations in various regions across the globe to establish themselves as leading players in the calcium propionate market. The core strength of the key players is strategic expansions, which are undertaken to enhance their presence in the calcium propionate market.
Companies such as ADDCON focus on expanding their manufacturing capacities of calcium propionate to strengthen their presence in the market. Some key companies also adopted strategies such as acquisitions to expand their reach, geographically.
ADDCON, one of the global leaders in the calcium propionate market, offers calcium propionate products to provide better taste and dispersion; it is used as a preservative to control microbes and prevent spoilage and mold growth. The company has advanced manufacturing facilities in Germany and Norway. ADDCON focuses on strengthening its market position through the expansion of the capacities of its existing facilities. In October 2017, ADDCON expanded its facility at its site in Parsevalstraße, Germany to meet the increased demand and the associated requirements. As a part of the expansion, ADDCON upgraded the site in the Bitterfeld-Wolfen Chemical Park and relocated all operational functions into the new administration building at Parsevalstraße.
Niacet focuses on geographic expansion, particularly in the Netherlands. It leverages its strong R&D capabilities for the development of new products to cater to the needs of consumers. The company continuously entered into expansions and acquisitions, thereby expanding its presence in markets with a large consumer base. As of August 2017, the company expanded its calcium and sodium propionate production capacity of 75 million pounds. The expansion was enabled by access to low-cost raw materials following its acquisition by SK Capital Partners.
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