Global Propionic Acid Market Size By Application (Food Preservatives, Herbicides, Cellulose Acetate Propionate), By End-User (Food And Beverages, Pharmaceuticals, Personal Care, Agriculture), By Geographic Scope And Forecast

Propionic Acid Market Size And Forecast

Propionic Acid Market size was valued at USD 1.1 Billion in 2020 and is projected to reach USD 1.4 Billion by 2028, growing at a CAGR of 2.78% from 2021 to 2028.

More money in our pockets? That's led to better living, and guess what? It's fueling a bigger demand for propionic acid, which means the Propionic Acid Market is booming! Plus, all this urbanization – think more corporate offices and bustling hypermarkets – is also pushing the demand for propionic acid. If you want the inside scoop, the Global Propionic Acid Market report dives deep. It’s a complete look at the market, breaking down all the important partsthe key segments, what’s hot, what’s holding things back, who’s competing, and everything that’s making a real difference.

Global Propionic Acid Market Definition

So, Propionic Acid, which you might also hear called carboxylic Acid, is this colorless liquid that definitely has a strong, kinda sharp smell. It's actually made by anaerobic bacteria, and these guys can use both sugar and lactate to get the job done! You'll mostly find it as a handy preservative in human food and animal feed. Plus, it's a building block, a synthetic intermediate if you will, for making things like crop protection agents, pharmaceuticals, and even solvents. And that's not all – it's used to create esters, vitamin E, and even adds flavor to some food products. Speaking of esters, they are pretty cool as artificial flavorings that give an alternative to the chemical flavors.

Propionic Acid? It's basically a germ-fighter! Think of it as a shield against fungi and bacteria for things like stored grains, that chicken coop floor (poultry litter), and even the water your animals drink. But here's the interesting part Propionic acid is also used a ton to keep our food fresh. Ever wonder how bread, cakes, cheese, sodas, jams, and those other pre-made packaged foods stay good for so long? It's often because they contain propionic acid as a preservative. It blocks mold and bacteria, making things last longer, which is why this area is growing. Adding it as an additive helps keep food from spoiling and maintains quality, and that's what's really driving the demand for food preservatives like it!

Rubber products are progressively being used in building & construction, industrial manufacturing, polymer modification, automotive, and many other applications. Propionic Acid is used as halfway for the manufacturing of rubber. The macroeconomic rise of the agricultural industry is further anticipated to push the demand for propionic Acid globally. Propionic Acid is used to control the growth of molds on crops and also protects various agriculture products from bacteria.

Global Propionic Acid Market Overview

What's driving the Propionic Acid Market? Well, a big part of it is how much we're using propionic acid as a preservative in both packaged food and animal feed. Plus, it's not just food! The use of propionic acid in herbicides and for making cellulose acetate propionate is also helping the industry grow. And let's face it, with our busy lives, we're relying more and more on packaged food, and we want it to be safe and hygienic. Propionic acid's main job? It stops bacteria and fungus from growing, which extends the shelf life of our food – pretty important stuff!

The enlarged environmental concerns over the period about the usage of herbicides is one of the major factors responsible for restraining the growth of this market. One more element is the scarcity of innovative ideas while offering products is another factor that may hinder the growth of this industry. Moreover, the overall revenue is being affected as the market players are being challenged by the situations which influence them to deduct margins on sales of products, this is another factor that may act as a barrier in the growth of the Propionic Acid Market.

Okay, so here's the thing about propionic acid. Getting it directly on you can cause some issues, and honestly, there aren't enough places making it, which could slow down the whole market. But! New research shows propionic acid is super versatile. Think of it as a superhero against mold and bacteria! It stops them from growing in things like stored grains, poultry bedding, and even the drinking water for your chickens and cows. Basically, it's like an antibiotic that keeps animal products safe and helps protect us too. Pretty neat, huh?

Global Propionic Acid MarketSegmentation Analysis

The Global Propionic Acid Market is segmented on the basis of Application, End-User, And Geography.

Propionic Acid Market, By Application

• Food Preservatives• Herbicides• Cellulose Acetate Propionate• Others

Based on Application, The market is bifurcated into Food Preservatives, Herbicides, Cellulose Acetate Propionate, and Others. The Food Preservatives segment holds a big share in the market. In today’s modern world people majorly preferred packed or ready-to-eat food. These foods have propionic Acid as an additive and preservative to sustain the standard and to minimize spoilage, which pushes the demand for food preservatives. Propionic Acid is also used in the production of herbicides, rubber chemicals, emulsions, fine chemical intermediates, and environmentally friendly solvents for coating formulations, pharmaceuticals, and modified synthetic cellulose fibers.

Propionic Acid Market, By End-User

• Food And Beverages• Pharmaceuticals• Personal Care• Agriculture• Others

Okay, so when we look at who's actually using Propionic Acid, we break it down by End-User into a few key areasFood And Beverages, Pharmaceuticals, Personal Care, Agriculture, and "Others" – basically, everything else! Now, the Food and Beverages part? That's where most of the action is. You see, Propionic Acid is a real workhorse as a preservative and adds flavor to all sorts of packaged goodies. Think cheese, but also those yummy baked goods like tortillas and bread. And it's not just for human food, either! Farmers use it to keep animal feed like hay, corn, oats, wheat, sorghum, and barley fresh. Plus, with everyone reaching for hydrating drinks these days, we're expecting even more demand for Propionic Acid in the food & beverage industry.

Propionic Acid Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Propionic Acid Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The European region is expected to witness the highest CAGR during the forecast period. This is primarily due to the rise in disposable income in these countries, and growth in urbanization. It can also be attributed to the rising hospitality sector and growth in Pharmaceuticals.

Key Players

The “Global Propionic Acid Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Corbion N.V., Otto Chemie Pvt. Ltd., Merck KGaA, Oman Oil Company SAOC, Celanese Corporation, BASF SE, Dow Inc., Eastman Chemical Company, Perstorp Holding AB, Hawkins, Inc., Among Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In 2021, Celanese global chemical materials company, announced a global surcharge on its portfolio of Amcel, Celcon, Hostaform, and other polyacetal products in response to a recent surge in global energy prices.

• In 2019, BASF SE settled a propionic Acid second manufacturing plant in Nanjing, China. This is expected to help BASF SE meet the market.

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