The propionic acid & derivatives industry will relinquish an approximated estimate at a frequency of 6.1% for the projection space of 2020 to 2027 with factors such as rising demand from feed and food preservative manufacturers across the world which is propelling the growth of the global propionic acid & derivatives market.
The major factor boosting the growth of the propionic acid & derivatives market is the increasing demand for the preservatives in the products to increase the self-life of the products for the long period of time. Preservatives help to keep food fresher for longer time periods by extending its shelf life. Food preservatives used to slower down, prevent or changes in color, flavor, or delay rancidity and texture. Propionic acid is more efficient in the control of fungi than in bacteria. It has virtually no effect in the presence of yeast. It is used commonly as a preservative in various types of pre-packed bakery products and bread pre-packed, which is being an efficient inhibitor of mold. However, high cost prices may affect the propionic acid & derivatives market growth.
Propionic Acid & Derivatives Market Scenario
According to Data Bridge Market Research, the market for propionic acid & derivatives in the Europe region has the highest market share followed by North America and Asia-Pacific. Market leader is BASF SE which accounts an estimated market share of approximately 20.0% to 25.0% in the propionic acid & derivatives market. In recent time, BASF SE is playing major role by providing propionic acid & derivatives in the market and they are helping various food, feed and other manufacturers to fulfil consumer needs in the food sector.
- In May 2019, BASF SE and SINOPEC have created a joint venture in Nanjing, China. This was the company’s second propionic acid production plant at the Verbund site, BASF-YPC Co., Ltd. The new plant has an annual production capacity of 30,000 metric tons of propionic acid. The total capacity of the two plants has thus been increased to 69,000 metric tons per year.
Now the question is which are the other regions that BASF SE, Dow and Eastman Chemical Company are targeting? Data Bridge Market Research has estimated a large growth in Germany propionic acid & derivatives market and the market leaders targeting Italy, Netherlands and France to be their next revenue pockets for 2020.
The propionic acid & derivatives market is becoming more competitive every year with companies such as BASF SE, Dow and Eastman Chemical Company for propionic acid & derivatives market. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the propionic acid & derivatives market.
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Propionic Acid & Derivatives Market Development in 2020
- In 2020, Kemin Industries Inc. has launched an all-natural antimicrobial solution, BactoCEASE NV for the food industry in Asia. BactoCEASE NV is effective in delaying the growth of bacteria in poultry, meat and seafood products and it is proven to keep the total viable count of microorganisms within the regulated standard.
Scope of the Propionic Acid & Derivatives Market
Global propionic acid & derivatives market is segmented on the basis of countries into the U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Italy, rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, New Zealand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Oman, Qatar and rest of Middle East and Africa.
- All country based analysis of the propionic acid & derivatives market is further analyzed based on maximum granularity into further segmentation. On the basis of product, the propionic acid & derivatives market is segmented into propionic acid and derivatives. On the basis of grade, the propionic acid & derivatives market is segmented into industrial grade/technical grade, food grade, feed grade and pharma grade. On the basis of form, the propionic acid & derivatives market is segmented into dry and liquid. On the basis of type, the propionic acid & derivatives market is segmented into encapsulated and non-encapsulated. On the basis of source, the propionic acid & derivatives market is segmented into natural and synthetic. On the basis of application, the propionic acid & derivatives market is segmented into food & beverage, feed, pharmaceuticals, cosmetics, home & personal care, agriculture, industrial and others.
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Key Pointers Covered in the Propionic Acid & Derivatives Market Industry Trends and Forecast to 2027
- Market Size
- Market Regulatory Framework and Changes
- Recent Developments for Market Competitors
- Sales Data for Market Competitors
- Market Key Vendors and Disruptors Study
- Market Supply Chain Competiveness
Key Market Competitors Covered in the Report
- Kemin Industries, Inc.
- A.M FOOD CHEMICAL CO., LIMITED
- BASF SE
- Impextraco NV
- Palital Feed Additives B.V.
- Macco Organiques Inc.
- Finoric LLC
- Spectrum Chemical Manufacturing Corp.
- Monarch Chemicals Ltd
- Eastman Chemical Company
- Celanese Corporation
- Cayman Chemical
- NOVUS INTERNATIONAL
- Trouw Nutrition USA, LLC.
- Daicel Corporation
- Krishna Chemicals
Above are the key players covered in the report to know about more and exhaustive list of propionic acid & derivatives companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-propionic-acid-and-derivatives-market
Research Methodology: Global Propionic Acid & Derivatives Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
- Demand Side: Researchers, Food & Feed Specialists, Services Providers and Many Others
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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