Yes, it almost has no side effects and the safety has been approved by the U.S. Food and Drug Administration (FDA) and European Food Safety Authority (EFSA), as well as the Joint FAO/WHO Expert Committee on Food Additives (JECFA).  

FDA
Calcium chloride is generally recognized as safe (GRAS) that can be used as a firming agent, nutrient supplement, pH control agent, anticaking agent, humectant and others in the following food categories and with the maximum usage:(7):

Baked goods, dairy product analogs 0.3%
Beverage 0.22%
Cheese, processed fruit and fruit juices 0.2%
Coffee and tea 0.32%
Condiments and relishes 0.4%
Gravies and sauces 0.2%
Jams and jellies 0.1%
Meat products 0.25%
Plant protein products 2.0%
Processed vegetables and vegetable juices 0.4%
Other food categories 0.05%
EFSA

Calcium chloride (E509) is listed in Commission Regulation (EU) No 231/2012 as an authorised food additive and categorized in “ additives other than colours and sweeteners” (8).

Safety re-evaluation in 2019
EFSA concluded no safety concern when calcium chloride (together with hydrochloric acid (E507), potassium chloride (E 508) and magnesium chloride (E 511)) used as a food additive after the studies on genotoxicity, carcinogenicity and other researches. (9)

Approved uses
Its application is listed in “Group I” with the maximum level “quantum satis”. Meanwhile, its separate use levels are also “not limited” in the following products are also (10):

Dehydrated milk
Ripened cheese
Canned or bottled fruit and vegetables
Fruit compote other than apple
Jam, jellies and marmalades
UK Food Standards Agency
Categorized in “Others” (11)

Food Standards Australia New Zealand
It is an approved ingredient in Australia and New Zealand with the code number 509. (12)
 
Function Class: food additives, firming agent. (13)

Acceptable daily intake: ADI “not specific” set in 1973. (14)

Frequently asked questions
Is CaCl2 Vegan?
Yes, it is vegan as a naturally occurring mineral and the manufacturing process without the use of animal matter or products derived from animal origin. So it is suitable added to the diet of vegetarians.

Is CaCl2 acid or base?
It’s neither acid or base, it is a salt.

Is CaCl2 polar?
Yes, it is polar. It is an ionic molecule which dissociates to calcium ion and chloride ion in water.