Propionic Acid Market Updates

Propionic Acid Market size was valued at USD 1.1 Billion in 2023 and is poised to grow from USD 1.14 Billion in 2024 to USD 1.47 Billion by 2032, growing at a CAGR of 3.78% during the forecast period (2025-2032).

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 ', 'Eastman Chemical Company ', 'Perstorp Holdings AB ', 'Celanese Corporation ', 'Hawkins Inc. ', 'Merck KGaA ', 'Yancheng Huade Biological Engineering Co. Ltd ', 'Sasol ', 'Daicel Corporation ', 'Shanghai Jianbei Organic Chemical Co. Ltd ', 'Niacet Corporation ', 'Prathista Industries ', 'BIOMIN ', 'BASF-YPC Co., Ltd ', 'Global BioChem Technology Group Co. Ltd ', 'Emsland-Stärke GmbH ', 'Avebe ', 'Grain Processing Corporation ', 'SMS Corporation Co., Ltd'

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.