Global Propionic Acid Market – Industry Trends and Forecast to 2029

Global Propionic Acid Market, By Application (Animal Feed and Food Preservatives, Calcium, Ammonium, and Sodium Salts, Cellulose Acetate Propionate, Herbicides, Plasticizers, Rubber Products, and Other Applications), End-User Industry (Agriculture, Food & Beverage, Personal Care, Pharmaceutical, Other End-User Industries) – Industry Trends and Forecast to 2029

Propionic Acid Market Analysis and Size

Globally, propionic acid is becoming more important and is becoming a part of the consumer's daily diet. The primary causes of this shift are the increased prevalence of lifestyle diseases and people practicing preventive healthcare. Furthermore, the emerging applications of propionic acid in food, dietary supplements and clinical nutrition have fuelled market growth.

Data Bridge Market Research analyses that the propionic acid market was valued at USD 1.51 billion in 2021 and is expected to reach the value of USD 2.79 billion by 2029, at a CAGR of 8.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Propionic Acid Market Scope and Segmentation

Market Definition

Propionic acid (PA) is a colourless, corrosive carboxylic acid that occurs naturally. It is created through the chemical reaction of carbon monoxide and water and is composed of a short-chain saturated fatty acid attached to a carboxyl carbon. Propionic acid is liquid and can be commercially synthesized via fermentative, biosynthetic, and amino acid catabolic pathways. It is commonly used as a preservative and additive in packaged foods and animal feed to prevent microbial and fungal growth. It is also widely used in a variety of industries, including chemical, cosmetics, and pharmaceuticals.

Propionic Acid Market Dynamics

Drivers

• Growth in the agricultural industry is creating a positive outlook for propionic acid market

Significant growth in the agriculture industry and rising global consumption of dairy, livestock, and poultry products is one of the key factors driving the market's positive outlook. As it aids in the reduction of microbial growth in stored grains, hay, poultry litter, and livestock water, propionic acid is widely used as an effective grain preservative.

• Changing trend of adopting natural preservatives

The rising demand for natural preservatives in ready-to-eat (RTE) and canned food products is also driving market expansion. The acid also extends the shelf life of cheese and baked goods. Acid esters are used as artificial flavourings or solvents as an alternative to chemical alternatives.

Opportunity

Other growth-inducing factors include the use of co-culture, metabolic and genetic engineering, immobilisation techniques, and bioreactor systems in the biological production of propionic acid through microorganisms and renewable biomass. Furthermore, rising food safety concerns and extensive biotechnology research and development (R&D) are expected to drive the market even further.

Restraints

The increasing environmental concerns over the period about the usage of herbicides is one of the major factors responsible for restraining the growth of this market. Another factor is the shortage of innovative ideas while offering products, which may hinder this industry's growth. The direct exposure to propionic acid has a variety of side effects, and a lack of production facilities is another factor that may limit the market's growth.

This propionic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Propionic Acid Market

COVID-19 had a negative impact on the market in the first half of 2021. The growing consumer awareness of health consciousness has become a major factor impeding demand for food preservatives. Furthermore, as one of the major ingredients in food preservatives, propionic acid has experienced a marginal decline in demand, limiting market growth.

Recent Development

Afyren, a biotechnology startup, began construction on Afyren Neoxy, the first industrial-scale factory for green chemistry manufacture of organic acids such as acetic acid, propionic acid, butyric acid, isobutyric acid, valeric acid, isovaleric acid, and hexanoic acid, in January 2021. Cosmetics, perfumes, flavours, pharmaceuticals, and fine chemicals will all benefit from this material.

Global Propionic Acid Market Scope

The propionic acid market is segmented on the basis of application 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.

Application

• Animal Feed and Food Preservatives
• Calcium
• Ammonium
• Sodium Salts
• Cellulose Acetate Propionate
• Herbicides
• Plasticizers
• Rubber Products
• Other Applications

End User

• Agriculture
• Food & Beverage
• Personal Care
• Pharmaceutical
• Other End-User Industries

Propionic Acid Market Regional Analysis/Insights

The propionic acid market is analysed and market size insights and trends are provided by country, application and end user as referenced above.

The countries covered in the propionic acid market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe contributed the most revenue to the global market. Europe is expected to grow at a moderate rate and is home to many propionic acid manufacturers and suppliers. Germany is the region's largest market for the food industry and agriculture.

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 like 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 Market Share Analysis

The propionic acid 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 market.

Some of the major players operating in the propionic acid market are:

• DSM (Netherlands)
• BASF SE (Germany)
• Lonza Group (Switzerland)
• Glanbia Plc (Ireland)
• ADM (U.S.)
• Farbest Brands (U.S.)
• SternVitamin GmbH & Co. KG (Germany)
• Adisseo (France)
• BTSA Biotechnologias Aplicadas S.L. (Spain)
• Rabar Pty Ltd (Australia)
• Orkla Health (Norway)
• Epax (Norway)
• BioProcess Algae LLC (U.S.)
• Croda International plc (U.K.)