Propionic acid is registered for controlling bacteria and fungi in grain storage areas, stored grains, drinking water and poultry litter for livestock and poultry and acts as a fungicide and bactericide. It is a liquid sprayed on grain storage area surfaces, grain, poultry litter and hay and can be directly added to drinking water for livestock and poultry.
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Global propionic acid & derivatives market is expected to reach USD 22,86,686.37 thousand by 2027 from USD 14,34,122.37 thousand in 2019, growing at a CAGR of 6.1% in the forecast period of 2020 to 2027. The major metabolic route for the production of propionate is from an energy optimization perspective. Production of propionate by Biological pathway is limited due to high downstream purification costs for the targeted yield, productivity. Genome shuffling combined with high throughput processes and metabolic engineering are providing many new opportunities thus biological propionate production does have much scope in the future.
Rising demand from feed and food preservative manufacturers across the world will drive the market's growth rate
The most eco-efficient feed grain preservation method is the treatment of grain preservative with Luprosil which is 53.5% propionic acid. Yeast and Bacteria contamination in the feed negatively impacts intestinal flora, ultimately resulting in nutrient losses in the feed and thus negatively impacting animal feed intake. Thus, propionic acid is increasing in various applications such as feed preservatives, food preservatives, and many others. Also, if they are used in an appropriate proportion, they can increase the feed intake in animals. So, the propionic acid & its derivatives have less side effects and are safe for use in various applications and act as driving factor for the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2020 to 2027
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Base Year
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2019
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Historic Years
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2018 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Propionic Acid, Derivatives), Grade (Industrial Grade/Technical Grade, Food Grade, Feed Grade, Pharma Grade), Form (Dry, Liquid), Type (Encapsulated, Non-Encapsulated), Source (Natural, Synthetic), Application (Food & Beverage, Feed, Pharmaceuticals, Cosmetics, Home & Personal Care, Agriculture, Industrial and Others)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Market Players Covered
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Niacet (U.S.), ADDCON GmbH (Germany), Impextraco NV (Belgium), Real S.A.S. (U.S.), Shandong Tong Tai Wei Run Chemical Co,.ltd (China), BELL CHEM CORP (U.S.), Macco Organiques Inc. (Czech Republic), Fine Organics (India), Mil-Spec Industries Corporation (U.S.), MAGNESIA GmbH (Germany), Kemin Industries, Inc. (U.S.), Eastman Chemical Company (U.S.), Celanese Corporation (U.S.), Cayman Chemical (U.S.), NOVUS INTERNATIONAL (U.S.), Trouw Nutrition USA, LLC. (U.S.), Daicel Corporation (Japan) and Krishna Chemicals (India) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global propionic acid & derivatives market is segmented into six notable segments which are based on the basis of product, grade, form, type, source and application.
- On the basis of product, the propionic acid & derivatives market is segmented into propionic acid, and derivatives. In 2020, propionic acid segment has dominated the propionic acid & derivatives market with 82.40% market share owing to factors such as the increasing applications of propionic acid in various industries.
- On the basis of grade, the propionic acid & derivatives market is segmented into industrial grade/technical grade, food grade, feed grade, and pharma grade. In 2020, feed grade segment has dominated the propionic acid & derivatives market with 37.99% market share owing to factors such as the increased use of propionic acid in feeds due to the property of propionic acid which acts as a mold inhibitor in the feed products.
- On the basis of form, the propionic acid & derivatives market is segmented into dry, liquid. In 2020, liquid segment has dominated the propionic acid & derivatives market with 71.56% market share owing to the less corrosive nature of liquid propionic acid.
- On the basis of type, the propionic acid & derivatives market is segmented into encapsulated, non-encapsulated. In 2020, non-encapsulated segment has dominated the propionic acid & derivatives market with 92.12% market share because it is easy to use in various products such as in animal feed products and most of the manufacturers are manufacturing non-encapsulated propionic acid.
- On the basis of source, the propionic acid & derivatives market is segmented into natural, synthetic. In 2020, natural segment has dominated the propionic acid & derivatives market with 81.45% market share because natural sources are available in larger proportion than synthetic sources and they are not harmful for the nature as well.
The natural segment will dominate the source segment of the propionic acid & derivatives market
The natural segment will emerge as the dominating segment under source with approximately 81.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.
- On the basis of application, the propionic acid & derivatives market is segmented into food, beverages, feed, pharmaceuticals, cosmetics, home & personal care, agriculture, industrial and others. In 2020, feed segment has dominated the propionic acid & derivatives market with 33.20% market share because of increasing manufacturers for animal feed grade propionic acid due to the increasing use of propionic acid in feed products because of their benefits such as mold inhibitor.
The feed products segment will dominate the application segment of the propionic acid & derivatives market
The feed segment will emerge as the dominating segment application segment. This is because of the growing number of distribution channels in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: Niacet (U.S.), ADDCON GmbH (Germany), Impextraco NV (Belgium), Real S.A.S. (U.S.), Shandong Tong Tai Wei Run Chemical Co,.ltd (China), BELL CHEM CORP (U.S.), Macco Organiques Inc. (Czech Republic), Fine Organics (India), Mil-Spec Industries Corporation (U.S.), MAGNESIA GmbH (Germany), Kemin Industries, Inc. (U.S.), Eastman Chemical Company (U.S.), Celanese Corporation (U.S.), Cayman Chemical (U.S.), NOVUS INTERNATIONAL (U.S.), Trouw Nutrition USA, LLC. (U.S.), Daicel Corporation (Japan) and Krishna Chemicals (India).
Market Development
- In June 2018, Palion acquired Bewital. The Bewital has experienced positive growth and employs more than 40 people. This acquisition helped company to make strong presence in the market.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
Europe is the dominant region in propionic acid & derivatives market during the forecast period 2020 - 2027
As a result of the expanding demand for propionic acid and its derivatives from feed and food preservative manufacturers in the area as well as the rising demand for packaged and processed foods, Europe is the market leader for this substance.
Asia-Pacific is estimated to be the fastest-growing region in propionic acid & derivatives market the forecast period 2020 - 2027
As a result of technological developments in China's production of propionic acid, which reduce the amount of time needed for the downstream process relative to batch fermentation and increase productivity, Asia-Pacific will emerge as the fastest growing region in the world for propionic acid and its derivatives.
COVID-19 Impact
In the upcoming years, it is anticipated that increasing technological advancements in the production will create new market opportunities. Future years are expected to see increased demand as a result of the expanding feed and food preservatives by the manufacturers in the market.
For more detailed information about the propionic acid & derivatives on market report, click here – https://www.databridgemarketresearch.com/reports/global-propionic-acid-and-derivatives-market
