The numerous uses of food grade calcium chloride in the food processing sector are likely to fuel market expansion over the forecast period. Calcium chloride can be substituted in food applications by other salts such as sodium chloride, potassium chloride, and magnesium chloride. Over the projected period, the cheap availability of these replacements is likely to impede the market growth of food grade calcium chloride. Over the projected period, the rise of the cheese industry is likely to increase demand for food grade calcium chloride. Globally rising demand for pasta and pizza has resulted in higher per capita cheese consumption, which is projected to boost cheese market growth throughout the forecast period. For example, according to USDA National Agricultural Statistics Service statistics released in June 2019, cheese consumption in the United States was 35 pounds per person in 2010, increasing to 39.1 pounds per person in 2017.
Food Grade Calcium Chloride Market
According to Coherent Market Insights, The Gobal is estimated to surpass US$ 1,078.7 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 6.8% during the forecast period (2021 to 2028).
Key Companies in the Food Grade Calcium Chloride Industry:
1. Solvay S.A.
Solvay SA provides advanced materials and specialty chemicals worldwide. It operates through four segments: Materials, Chemicals, Solutions, and Corporate & Business Services. The company was founded in 1863 and is headquartered in Brussels, Belgium.
2. Tokuyama Corporation
Tokuyama Corporation produces and sells various chemical products in Japan. The company operates through six segments: Chemicals, Cement, Electronics Materials, Life Science, Eco Business, and Others. Tokuyama Corporation was incorporated in 1918 and is headquartered in Tokyo, Japan.
3. Occidental Petroleum Corporation
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
