North America Propionic Acid and Derivatives Market, By 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 & Beverages, Feed, Pharmaceuticals, Cosmetics, Home & Personal Care, Agriculture, Industrial, Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2027
Market Analysis and Insights: North America Propionic Acid and Derivatives Market
North America propionic acid and derivatives market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 6.3% in the forecast period of 2020 to 2027 and expected to reach USD 6,93,806.20 thousand by 2027. Rising demand from feed and food preservative manufacturers are leading the growth of the market.
On the moisture content of the grain the application rate of propionic acid is depended. This rate varies depending on the conditions in which grains are stored. Propionic acid reduces the pH of the feed and improves the feed hygiene conditions as a feed preservative. It also increases the intake of feed but if it is used in a high amount it also reduces feed intake in animals, use of propionic acid in agriculture is increasing for various applications. It is able to control all type of plants and acts as a driving factor for the market. However, the limited growth in R&D expenditure; hence it acts as restraining factor for the market. Strict regulations and government mandates on usage of propionic acid in various industries is estimated to avoid the drawbacks of propionic acid.
This North America propionic acid and derivatives market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Propionic Acid and Derivatives Market Scope and Market Size
North America propionic acid and derivatives market is segmented into six notable segments which are based on the basis of product, grade, form, type, source, and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the North America propionic acid and derivatives market is segmented into propionic acid, and derivatives. Derivatives are further segmented into naproxen, fenoprofen, ketoprofen, flurbiprofen, oxaprozin and others. In 2020, propionic acid has the largest market share owing to factors such as the increasing applications of propionic acid in various industries.
- On the basis of grade, the North America propionic acid and derivatives market is segmented into industrial grade/technical grade, food grade, feed grade, and pharma grade. In 2020, feed grade segment dominated the market 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 North America propionic acid and derivatives market is segmented into dry, liquid. In 2020, liquid segment holds the largest market share owing to the less corrosive nature of liquid propionic acid.
- On the basis of type, the North America propionic acid and derivatives market is segmented into encapsulated, non-encapsulated. In 2020, non-encapsulated segment dominated the market 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 North America propionic acid and derivatives market is segmented into natural, synthetic. In 2020, natural segment dominated the market because natural sources are available in larger proportion than synthetic sources and they are not harmful for the nature as well.
- On the basis of application, the North America propionic acid and derivatives market is segmented into food & beverages, feed, pharmaceuticals, cosmetics, home & personal care, agriculture, industrial and others. In 2020, feed segment dominated the market 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.
North America Propionic Acid and Derivatives Market Country Level Analysis
North America propionic acid and derivatives market is analysed and market size information is provided by country, product, grade, form, type, source and application.
The countries covered in the North America propionic acid and derivatives market report are U.S., Canada and Mexico.
North America propionic acid and derivatives market is dominating the market due to their region because of the rising demand from feed and food preservative manufacturers in the region. The Propionic acid is dominating the U.S. market because of increasing demand for the packaged and processed foods and also due to rising demand from feed and food preservative manufacturers. Canada market for propionic acid is expected to grow during the forecast period as the high consumption of GMO foods in the region due to the increased demand for the propionic acid from feed and food preservatives application from the manufacturers.
The country section of the North America propionic acid and derivatives market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Propionic Acid and Derivatives industry
North America propionic acid and derivatives market also provides you with detailed market analysis for every country growth in installed base of different kind of products for propionic acid and derivatives market, impact of technology using life line curves and changes in propionic acid regulatory scenarios and their impact on the propionic acid and derivatives market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Propionic Acid and Derivatives Market Share Analysis
North America propionic acid and derivatives 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, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America propionic acid and derivatives market.
Some of the major players operating in North America propionic acid and derivatives market are EASTMAN CHEMICAL COMPANY, Kemin Industries, Inc., Perstorp, BASF SE, Biomin, Dow, Impextraco Nv, Macco Organiques Inc., Finoric Llc, Spectrum Chemical Manufacturing Corp., Niacet, Celanese Corporation, Cayman Chemical, NOVUS INTERNATIONAL, Trouw Nutrition USA, LLC., and Daicel Corporation, among others, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.