USD 1.05 billion
Report ID: SQSG15E2058 | Region: Global | Published Date: December, 2022 | Pages: 265 | Tables: 67 | Figures: 75
Propionic Acid Market size was valued at USD 1.05 billion in 2021 and is poised to grow from USD 1.1 billion in 2022 to USD 1.42 billion by 2030, growing at a CAGR of 3.78% in the forecast period (2023-2030).
Propionic acid is a colourless, clear liquid with a strong smell. Propionic acid is created through the hydro carboxylation of ethylene using nickel carbonyl as a catalyst. Animal feed additives and food preservatives both use propionic acid and its esters. Due to its anti-fungal and anti-bacterial properties and high boiling point, propionic acid is used as a crop protecting agent. It is also fit to work well for cattle drinking water also acting as an anti-bacterial agent. A type of carboxylic acid is propionic acid, sometimes referred to as carboxylic acid, methane carboxylic acid, or ethyl formic acid. In its natural state, it can be utilised as an ester in essential oils. It is a natural preservative that is used to increase the shelf life of baked goods like tortillas and bread and cheese. Additionally, they are used in the preservation packaging of certain ready-to-eat foods. Futuremarket expansion will be aided by a quickening pace of developments in sectors that employ propionic acid.
US Propionic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.05 billion
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Global Propionic Acid Market is segmented based on the application, end-use industry, and region. Based on application, market is segmented into herbicides, rubber products, plasticizers, food preservative, and others. Based on end-use industry, the industry is segmented into pharmaceuticals, personal care, food & beverage, agriculture, and others. Based on region, the global market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Propionic Acid Market Analysis by Application
Based on application, food preservative is the largest contributor. The majority of Americans prefer market-available, ready-to-eat foods. Propionic acid is an additive and preservative used in these goods to retain quality and prevent deterioration, which increases the demand for food preservatives. Additionally, the rising need for food preservatives fuels the expansion of the Global Propionic Acid Market. The market is expanding due to the rising demand for natural preservatives. During the projected period, the sector for rubber products is anticipated to increase at the high CAGR. One of the most adaptable materials, rubbers are employed in practically every industry. In addition to several other uses, rubber goods are increasingly used in the automotive, building & construction, industrial manufacturing, and polymer modification industries. The manufacturing of rubber requires the use of propionic acid as an intermediary. Due to its numerous uses in the industry, rubber products are in higher demand from the automobile sector. The market is expanding as a result of the usage of propionic acid in the production of rubber.
Propionic Acid Market Analysis by End-Use Industry
Based on end-use industry, the food and beverage sector are the largest contributors to the global market. The market is anticipated to grow as a result of rise in the use of propionic acid as a common food preservative in breads, cakes, cheese, non-alcoholic drinks, jams, jellies, and other processed foods to reduce the formation of mould and bacteria and extend shelf life. The economic and population robust growth are both contributing to the widening of global food and beverage business. Additionally, there has been a rise in the use of hydrating beverages.
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Globally, the propionic acid market is dominated by Europe. An increase in the consumption of packaged convenience foods and meat, poultry, and seafood items in this region is one of the major reasons for the market expansion. Additionally, one of the key reasons driving the market expansion in this region is the rise in the use of propionic acid in the pharmaceutical industry. At a double-digit CAGR throughout the forecast period, Asia Pacific is projected to be the second-largest market. The expanding food & beverage, personal care, and animal feed industries are the causes of this expansion. Another factor driving market growth in this region, driven by India, China, and Japan, is the growing use of propionic acid in various agrochemicals. The agriculture industry is also a prominent one in this region.
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Propionic Acid Market Driver
Packaged food to witness major use of propionic acids in the packing stages
Propionic Acid Market Restraint
Rising Environmental Concerns
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Global Propionic Acid Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Propionic Acid Market Top Player's Company Profiles
Propionic Acid Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the Global Propionic Acid Market analysis report, in terms of application, the food preservative segment held larger market share owing to rising need for food preservatives. In terms of end-use industry, the food and beverage segment dominated the global market. Moreover, the agricultural sector's expansion is improving the market prospects for propionic acid. Whereas, one of the key factors limiting the growth of this market is the rising environmental concerns regarding the use of herbicides throughout time.
|Market size value in 2021||USD 1.05 billion|
|Market size value in 2030||USD 1.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
|Companies covered||'s Company Profiles
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Parent Market Analysis
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For the Global Propionic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Propionic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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US Propionic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Propionic Acid Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'BASF SE', 'Dow Chemical Company', 'Eastman Chemical Company', 'Perstorp Holding AB', 'Celanese Corporation', 'Daicel Corporation', 'A.M. Food Chemical Co. Ltd.', 'Biomin Holding GmbH', 'Hawkins, Inc.', 'Kemin Industries, Inc.', 'Macco Organiques Inc.', 'Merck KGaA', 'Niacet Corporation', 'Prathista Industries Ltd.', 'Qingdao Jiutai Biotechnology Co. Ltd.', 'Shandong Tong Tai Wei Run Chemical Co. Ltd.', 'Sinopec Qilu Petrochemical Corporation', 'Taminco Corporation', 'The Good Scents Company', 'Yancheng Huade Biological Engineering Co. Ltd'
One of the main causes of the expansion of this Global Propionic Acid Market is the increasing usage of propionic acid as a preservative in packaged foods and animal feed. Another important factor driving this industry's expansion is the use of propionic acid in the production of cellulose acetate propionate and herbicides. The demand for packaged food, particularly hygienic food products, has increased as a result of changes in consumer lifestyles. This market is also growing as a result of the use of propionic acid, which is primarily used as a preservative to extend the shelf life of food products and prevent the growth of bacteria and fungus. In 2020, 471 kilo tonnes of propionic acid were consumed; in 2025, 538 kilo tonnes were consumed.
Numerous applications exist for the Global Propionic Acid Market. It has been proven to be effective as a fungicide and bactericide to stop the growth of bacteria and fungus in grain storage, poultry litter, and livestock and poultry drinking water. Propionic acid is regarded as a successful antibiotic growth promoter for the preservation of the safety of animal products and human health. Esters of propionic acid can be employed efficiently as solvents or as artificial flavourings in place of chemicals.
Global propionic acid market will be dominated by the European region, and the increase in the consumption of packaged convenience foods and meat, poultry, and seafood items in this region is cited as the cause. Additionally, one of the key reasons driving the market expansion in this region is the rise in the use of propionic acid in the pharmaceutical industry. At a double-digit CAGR throughout the forecast period, the Asia Pacific region will be the second-largest market. And the expanding food & beverage, personal care, and animal feed industries are the causes of this expansion. Another factor driving market growth in this region, driven by India, China, and Japan, is the growing use of propionic acid in various agrochemicals. The agriculture industry is also a prominent one in this region.
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