
Global Propionic Acid Market Report and Forecast 2024-2032
Description
Global Propionic Acid Market Report and Forecast 2024-2032
Global Propionic Acid Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global propionic acid market size reached a volume of 475.50 KMT in 2023. Aided by extensive use in food preservation, animal feed, and industrial applications, the market is projected to further grow at a CAGR of 3.3% between 2024 and 2032 to reach a volume of 638.07 KMT by 2032.
Propionic acid is a versatile organic compound commonly used as a food preservative, antimicrobial agent, and an intermediate in chemical synthesis. Its efficacy in inhibiting mold and bacterial growth makes it valuable in extending the shelf life of products and preserving animal feed.
The propionic acid market growth is being driven by the increasing consumption of packaged foods, which is a result of the growing complexities of modern lifestyles and the convenience provided by these products. This acid serves as both a flavouring agent and a preservative in various types of packaged foods, thus contributing to its market expansion. The antibacterial properties of propionic acid and its ability to inhibit the growth of molds make it an effective preservative in these food products.
The primary driver of the market is the growing demand for food preservatives. As consumer preferences shift towards convenience foods with extended shelf lives, propionic acid's role as a safe preservative ensures its continuous demand. Its application in baked goods, dairy products, and processed meats to prevent spoilage and ensure freshness supports its robust market presence, consequently driving up the propionic acid market share.
Propionic acid is also crucial in the agricultural sector, particularly in animal nutrition. It is used as a preservative in animal feed to prevent the growth of mold, thereby ensuring the quality and safety of feed during storage. With the increasing global livestock population and the rising focus on feed quality, the demand for propionic acid in this segment continues to grow.
Beyond food preservation, propionic acid finds significant applications in the production of cellulose acetate propionate (CAP), a useful compound in the manufacture of thermoplastics, coatings, and films. In the pharmaceutical sector, it serves as an intermediate in the synthesis of various active pharmaceutical ingredients. Its versatility across multiple sectors underscores its importance and leading to propionic acid market expansion.
Food and drinks are projected to make up a substantial portion of the market, as the product is increasingly being used in baked goods and breads as a preservative to prevent the growth of bacteria and molds. Propionic acid is also utilised to create a nutty taste and the characteristic holes in Swiss cheese. When used in small amounts, propionic acid enhances the production of citric acid alongside acetic acid, thereby boosting the hydrogen production rate during fermentation.
As per the propionic acid market analysis, North America leads the global market, propelled by advanced food processing techniques and stringent food safety regulations that emphasise the use of effective preservatives. Additionally, demand in Europe is driven by the presence of major food and pharmaceutical companies and rigorous EU regulations regarding food additives. Asia-Pacific is expected to witness the fastest growth due to increasing industrialization, rising food safety awareness, and the expanding agricultural sector, especially in countries like China and India.
Market Segmentation
The market can be divided based on the type, end use, and region
Market Breakup by Type
- Herbicides
- Food Preservatives
- Chemical Intermediates
- Others
- Agriculture
- Food and Beverage
- Personal Care
- Pharmaceutical
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global propionic acid market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- The Dow Chemical Company
- Eastman Chemical Company
- OQ Chemicals GmbH
- Perstorp Holding AB
- Otto Chemie Pvt. Ltd.
- Impextraco NV
- Shanghai Jianbei Organic Chemical Co., Ltd.
- Others
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.
*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
205 Pages
- 1 Preface
- 2 Report Coverage – Key Segmentation and Scope
- 3 Report Description
- 3.1 Market Definition and Outlook
- 3.2 Properties and Applications
- 3.3 Market Analysis
- 3.4 Key Players
- 4 Key Assumptions
- 5 Executive Summary
- 5.1 Overview
- 5.2 Key Drivers
- 5.3 Key Developments
- 5.4 Competitive Structure
- 5.5 Key Industrial Trends
- 6 Market Snapshot
- 6.1 Global
- 6.2 Regional
- 7 Opportunities and Challenges in the Market
- 8 Global Propionic Acid Market Analysis
- 8.1 Key Industry Highlights
- 8.2 Global Propionic Acid Historical Market (2018-2023)
- 8.3 Global Propionic Acid Market Forecast (2024-2032)
- 8.4 Global Propionic Acid Market by Type
- 8.4.1 Herbicides
- 8.4.1.1 Historical Trend (2018-2023)
- 8.4.1.2 Forecast Trend (2024-2032)
- 8.4.2 Food Preservatives
- 8.4.2.1 Historical Trend (2018-2023)
- 8.4.2.2 Forecast Trend (2024-2032)
- 8.4.3 Chemical Intermediates
- 8.4.3.1 Historical Trend (2018-2023)
- 8.4.3.2 Forecast Trend (2024-2032)
- 8.4.4 Others
- 8.5 Global Propionic Acid Market by End Use
- 8.5.1 Agriculture
- 8.5.1.1 Historical Trend (2018-2023)
- 8.5.1.2 Forecast Trend (2024-2032)
- 8.5.2 Food and Beverage
- 8.5.2.1 Historical Trend (2018-2023)
- 8.5.2.2 Forecast Trend (2024-2032)
- 8.5.3 Personal Care
- 8.5.3.1 Historical Trend (2018-2023)
- 8.5.3.2 Forecast Trend (2024-2032)
- 8.5.4 Pharmaceutical
- 8.5.4.1 Historical Trend (2018-2023)
- 8.5.4.2 Forecast Trend (2024-2032)
- 8.5.5 Others
- 8.6 Global Propionic Acid Market by Region
- 8.6.1 North America
- 8.6.1.1 Historical Trend (2018-2023)
- 8.6.1.2 Forecast Trend (2024-2032)
- 8.6.2 Europe
- 8.6.2.1 Historical Trend (2018-2023)
- 8.6.2.2 Forecast Trend (2024-2032)
- 8.6.3 Asia Pacific
- 8.6.3.1 Historical Trend (2018-2023)
- 8.6.3.2 Forecast Trend (2024-2032)
- 8.6.4 Latin America
- 8.6.4.1 Historical Trend (2018-2023)
- 8.6.4.2 Forecast Trend (2024-2032)
- 8.6.5 Middle East and Africa
- 8.6.5.1 Historical Trend (2018-2023)
- 8.6.5.2 Forecast Trend (2024-2032)
- 9 North America Propionic Acid Market Analysis
- 9.1 United States of America
- 9.1.1 Historical Trend (2018-2023)
- 9.1.2 Forecast Trend (2024-2032)
- 9.2 Canada
- 9.2.1 Historical Trend (2018-2023)
- 9.2.2 Forecast Trend (2024-2032)
- 10 Europe Propionic Acid Market Analysis
- 10.1 United Kingdom
- 10.1.1 Historical Trend (2018-2023)
- 10.1.2 Forecast Trend (2024-2032)
- 10.2 Germany
- 10.2.1 Historical Trend (2018-2023)
- 10.2.2 Forecast Trend (2024-2032)
- 10.3 France
- 10.3.1 Historical Trend (2018-2023)
- 10.3.2 Forecast Trend (2024-2032)
- 10.4 Italy
- 10.4.1 Historical Trend (2018-2023)
- 10.4.2 Forecast Trend (2024-2032)
- 10.5 Others
- 11 Asia Pacific Propionic Acid Market Analysis
- 11.1 China
- 11.1.1 Historical Trend (2018-2023)
- 11.1.2 Forecast Trend (2024-2032)
- 11.2 Japan
- 11.2.1 Historical Trend (2018-2023)
- 11.2.2 Forecast Trend (2024-2032)
- 11.3 India
- 11.3.1 Historical Trend (2018-2023)
- 11.3.2 Forecast Trend (2024-2032)
- 11.4 ASEAN
- 11.4.1 Historical Trend (2018-2023)
- 11.4.2 Forecast Trend (2024-2032)
- 11.5 Australia
- 11.5.1 Historical Trend (2018-2023)
- 11.5.2 Forecast Trend (2024-2032)
- 11.6 Others
- 12 Latin America Propionic Acid Market Analysis
- 12.1 Brazil
- 12.1.1 Historical Trend (2018-2023)
- 12.1.2 Forecast Trend (2024-2032)
- 12.2 Argentina
- 12.2.1 Historical Trend (2018-2023)
- 12.2.2 Forecast Trend (2024-2032)
- 12.3 Mexico
- 12.3.1 Historical Trend (2018-2023)
- 12.3.2 Forecast Trend (2024-2032)
- 12.4 Others
- 13 Middle East and Africa Propionic Acid Market Analysis
- 13.1 Saudi Arabia
- 13.1.1 Historical Trend (2018-2023)
- 13.1.2 Forecast Trend (2024-2032)
- 13.2 United Arab Emirates
- 13.2.1 Historical Trend (2018-2023)
- 13.2.2 Forecast Trend (2024-2032)
- 13.3 Nigeria
- 13.3.1 Historical Trend (2018-2023)
- 13.3.2 Forecast Trend (2024-2032)
- 13.4 South Africa
- 13.4.1 Historical Trend (2018-2023)
- 13.4.2 Forecast Trend (2024-2032)
- 13.5 Others
- 14 Market Dynamics
- 14.1 SWOT Analysis
- 14.1.1 Strengths
- 14.1.2 Weaknesses
- 14.1.3 Opportunities
- 14.1.4 Threats
- 14.2 Porter’s Five Forces Analysis
- 14.2.1 Supplier’s Power
- 14.2.2 Buyer’s Power
- 14.2.3 Threat of New Entrants
- 14.2.4 Degree of Rivalry
- 14.2.5 Threat of Substitutes
- 14.3 Key Indicators for Demand
- 14.4 Key Indicators for Price
- 15 Trade Data Analysis (HS Code – 291550)
- 15.1 Major Exporting Countries
- 15.1.1 By Value
- 15.1.2 By Volume
- 15.2 Major Importing Countries
- 15.2.1 By Value
- 15.2.2 By Volume
- 16 Price Analysis
- 17 Competitive Landscape
- 17.1 Market Structure
- 17.2 Company Profiles
- 17.2.1 BASF SE
- 17.2.1.1 Company Overview
- 17.2.1.2 Product Portfolio
- 17.2.1.3 Demographic Reach and Achievements
- 17.2.1.4 Certifications
- 17.2.2 The Dow Chemical Company
- 17.2.2.1 Company Overview
- 17.2.2.2 Product Portfolio
- 17.2.2.3 Demographic Reach and Achievements
- 17.2.2.4 Certifications
- 17.2.3 Eastman Chemical Company
- 17.2.3.1 Company Overview
- 17.2.3.2 Product Portfolio
- 17.2.3.3 Demographic Reach and Achievements
- 17.2.3.4 Certifications
- 17.2.4 OQ Chemicals GmbH
- 17.2.4.1 Company Overview
- 17.2.4.2 Product Portfolio
- 17.2.4.3 Demographic Reach and Achievements
- 17.2.4.4 Certifications
- 17.2.5 Perstorp Holding AB
- 17.2.5.1 Company Overview
- 17.2.5.2 Product Portfolio
- 17.2.5.3 Demographic Reach and Achievements
- 17.2.5.4 Certifications
- 17.2.6 Otto Chemie Pvt. Ltd.
- 17.2.6.1 Company Overview
- 17.2.6.2 Product Portfolio
- 17.2.6.3 Demographic Reach and Achievements
- 17.2.6.4 Certifications
- 17.2.7 Impextraco NV
- 17.2.7.1 Company Overview
- 17.2.7.2 Product Portfolio
- 17.2.7.3 Demographic Reach and Achievements
- 17.2.7.4 Certifications
- 17.2.8 Shanghai Jianbei Organic Chemical Co., Ltd.
- 17.2.8.1 Company Overview
- 17.2.8.2 Product Portfolio
- 17.2.8.3 Demographic Reach and Achievements
- 17.2.8.4 Certifications
- 17.2.9 Others
- 18 Key Trends and Developments in the Market
- List of Key Figures and Tables
- 1. Global Propionic Acid Market: Key Industry Highlights, 2018 and 2032
- 2. Global Propionic Acid Historical Market: Breakup by Application (USD Million), 2018-2023
- 3. Global Propionic Acid Market Forecast: Breakup by Application (USD Million), 2024-2032
- 4. Global Propionic Acid Historical Market: Breakup by End Use (USD Million), 2018-2023
- 5. Global Propionic Acid Market Forecast: Breakup by End Use (USD Million), 2024-2032
- 6. Global Propionic Acid Historical Market: Breakup by Region (USD Million), 2018-2023
- 7. Global Propionic Acid Market Forecast: Breakup by Region (USD Million), 2024-2032
- 8. North America Propionic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
- 9. North America Propionic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
- 10. Europe Propionic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
- 11. Europe Propionic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
- 12. Asia Pacific Propionic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
- 13. Asia Pacific Propionic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
- 14. Latin America Propionic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
- 15. Latin America Propionic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
- 16. Middle East and Africa Propionic Acid Historical Market: Breakup by Country (USD Million), 2018-2023
- 17. Middle East and Africa Propionic Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
- 18. Major Exporting Countries by Value
- 19. Major Importing Countries by Value
- 20. Major Exporting Countries by Volume
- 21. Major Importing Countries by Volume
- 22. Global Propionic Acid Market Structure
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.