Global Propionic Acid for Animal Feed Market - Industry Trends and Forecast to 2029

Global Propionic Acid for Animal Feed Market, By Grade (Biotech/Analytical (High Purity), Technical (Low Purity)), Process (Oxo Process, Reppe Process, By-Product Process), End-User (Chemical, Agriculture, Healthcare, Personal Care, Food and Beverages) – Industry Trends and Forecast to 2029

Global Propionic Acid for Animal Feed Market Analysis and Size

In recent years, the market for propionic acid for animal feed is anticipated to grow rapidly during the forecast period of 2022-2029. Propionic acid is also effective against molds and fungus, and it aids in the storage of grains in high-moisture environments for prolonged periods of time. During the forecast period, rising feed demand and increased awareness of grain preservation and safe animal feed are expected to significantly boost propionic acid demand. All these factors will led to the introduction of propionic acid for animal feed in the market.

• Data Bridge Market Research analyses that the propionic acid for animal feed market was valued at USD 1.82 billion in 2021 and is expected to reach USD 2.77 billion by 2029, registering a CAGR of 5.40% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, patent analysis, pricing analysis, production consumption analysis, and technological advancements.

Global Propionic Acid for Animal Feed Market Definition

Propionic acid is a clear liquid with a strong odour. It has synonyms such as carboxylic acid, carboxyethane, ethane carboxylic acid, and ethyl formic acid, and is miscible with water and a few organic solvents. Propionic acid is a naturally occurring chemical that can be found in essential oils as esters. Carbon monoxide and ethylene are two important raw ingredients utilized in the synthesis of propionic acid.

COVID-19 Impact on Propionic Acid for Animal Feed Market

COVID-19 has wreaked havoc on nearly every industry, including infrastructure, transportation, oil and gas, manufacturing, and others. Most countries enacted lockdown limitations to combat the COVID-19 pandemic, which have now been gradually removed on a phase-by-phase and industry-by-industry basis. The propionic acid industry took a huge hit as a result of the COVID-19 epidemic, which wreaked havoc on the world economy due to a shortage of raw materials and labour. Export limitations on animal feed to neighboring and other outlying nations, mostly in Europe, contributed to the shortages in supply and production. This will also decrease the growth of propionic acid for animal feed market. 

The Market Dynamics of the Propionic Acid for Animal Feed Market Include

• Rise in the use of propionic acid due to its medical advantages will improve the market’s growth rate

The increasing use of propionic acid will enhance the growth rate of propionic acid for animal feed market. Propionic acid provide antifungal as well as antimicrobial properties which will increases its demand in propionic acid for animal feed market.

• Increasing concern for improving animal nutrition will act as major market driver

The rise in concern for improving animal nutrition will accelerate the propionic acid for animal feed market’s growth rate. With increased concerns about animal nutrition, the propionic acid industry's proportion of animal feed applications will grow. The rising popularity of dairy and poultry products has resulted in a variety of animal feed options. This will influence the market dynamics during the forecast period.

Furthermore, the propionic acid for animal feed market is also being driven by significant factors such as the upsurge in the level of disposable income and increasing urbanization. Propionic acid for animal feed market is estimated to rise rapidly over the forecast period because of surging number of applications of product in production of other chemicals and growth of livestock industry. The increasing demand for personal care and cosmetic products will influence the revenue growth of propionic acid for animal feed market. Another significant factor involving the increasing concern about animal health to prevent disease occurrences will cushion the growth rate of propionic acid for animal feed market.  

• Rise in number of strategic collaborations will boost new market opportunities

The rise in number of strategic collaborations will extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Along with this increasing demand of animal feed and gain preservatives will further create lucrative and remunerative growth opportunities for the propionic acid for animal feed market during the forecast period 2022-2029.  

Moreover, increasing technological advancement and emerging new markets will create profitable opportunities for propionic acid for animal feed market in the future.

Restraints/Challenges faced by the Propionic Acid for Animal Feed Market

• Supply chain disruptions will pose a threat to the unprecedentedly growing market demand

With the rising number of restrictions around the globe due to COVID-19 pandemic, there has been a hit in the demand and also have a negative impact on supply chain. This factor will obstruct the growth rate of propionic acid for animal feed market. 

However, increasing concern about environment will further pose challenges for the growth of market. In addition to this, the lack of technical innovations and production facilities will act as major restrains and further impede the growth rate of propionic acid for animal feed market.

This propionic acid for animal feed market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the propionic acid for animal feed market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

• In January 2021, Afyren Neoxy, the first industrial-scale factory for green chemistry synthesis of organic acids such as acetic acid, propionic acid, butyric acid, isobutyric acid, valeric acid, isovaleric acid, and hexanoic acid, was launched by Afyren, a biotechnology startup. Cosmetics, perfumes, flavours, pharmaceuticals, and fine chemicals will all benefit from this substance.

Global Propionic Acid for Animal Feed Market Scope

The propionic acid for animal feed market is segmented on the basis of grade, process, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Grade

• Biotech/Analytical (High Purity)
• Technical (Low Purity)

On the basis of grade, the propionic acid for animal feed market is segmented into biotech/analytical (high purity), and technical (low purity).

Process

• Oxo Process
• Reppe Process
• By-Product Process

Based on process, the propionic acid for animal feed market is segmented into oxo process, reppe process, and by-product process.

End-User

• Chemical
• Agriculture
• Healthcare
• Personal Care
• Food and Beverages

The propionic acid for animal feed market is also segmented on the basis of end-user. The end-user is segmented into chemical, agriculture, healthcare, personal care, food and beverages.

Propionic Acid for Animal Feed Market Regional Analysis/Insights

The propionic acid for animal feed market is analyzed and market size insights and trends are provided by country, grade, process, and end-user as referenced above.

The countries covered in the propionic acid for animal feed market report are the U.S., Canada, Mexico in North America, Germany, Poland, Ireland, 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, Chile, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Europe dominates the propionic acid for animal feed market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the favourable government and environment regulations in this region. Additionally, increasing demand of high quality feed mix products will further flourish the market’s growth rate in this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the growth of pharmaceutical and food preservatives industry in the region. Also, increasing levels of disposable income will further flourish the market’s growth rate in this region. 

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Propionic Acid for Animal Feed Market Share Analysis

The propionic acid for animal feed market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to propionic acid for animal feed market.

Some of the major players operating in the propionic acid for animal feed market are Dow (US), BASF SE (Germany), Perstorp (Sweden), Eastman Chemical Company (U.S.), Niacet, A Kerry Company (U.S.), Macco Organiques Inc. (Canada), Mitsubishi Chemical Corporation (Japan), Hawkins (U.S.), ADDCON GmbH (Germany), Impextraco NV (Belgium), Kemin Industries, Inc. (U.S.), Krishna Chemicals (India), Prathista Industries Limited (India), OXEA GmbH (Germany), Merck KGaA (Germany), Titan Biotech (India), NOVUS INTERNATIONAL (USA), Daicel Corporation (Japan), Celanese Corporation (US), Corbion NV (Netherlands), and Otto Chemie Pvt. Ltd., (India), among others.

Research Methodology : Global Propionic Acid for Animal Feed Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated 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 inquiry.

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, Expert Analysis, Import/Export Analysis, Pricing Analysis, Production Consumption Analysis, Climate Chain Scenario, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-propionic-acid-for-animal-feed-market