Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 1.51 Billion |
| USD 2.79 Billion | |
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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
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.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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DSM (Netherlands), BASF SE (Germany), Lonza Group (Switzerland), Glanbia Plc (Ireland), ADM (U.S.), Farbest Brands (U.S.), SternVitamin GmbH & Co. K.G. (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.)
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Opportunities
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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.
Drivers
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.
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 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.
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
End User
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.
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:
SKU-
To support market growth and help clients navigate the impact of geopolitical shifts, DBMR has integrated in-depth supply chain analysis into its Global Propionic Acid Market research reports. This addition empowers clients to respond effectively to global changes affecting their industries. The supply chain analysis section includes detailed insights such as Global Propionic Acid Market consumption and production by country, price trend analysis, the impact of tariffs and geopolitical developments, and import and export trends by country and HSN code. It also highlights major suppliers with data on production capacity and company profiles, as well as key importers and exporters. In addition to research, DBMR offers specialized supply chain consulting services backed by over a decade of experience, providing solutions like supplier discovery, supplier risk assessment, price trend analysis, impact evaluation of inflation and trade route changes, and comprehensive market trend analysis.
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed 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 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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, 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.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.