Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Propionic Acid Market Size Expected to Grow from USD 1.03 Billion in 2023 to USD 1.50 Billion by 2033, at a CAGR of 3.83% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Propionic Acid Market Size, Share, and COVID-19 Impact Analysis, By Applications (Herbicides, Rubber Products, Plasticizers, Food Preservatives, and Others), By End-User Industry (Pharmaceuticals, Personal Care, Food & Beverage, Agriculture, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The propionic acid market is the global industry that manages production and distribution and facilitates applications for propionic acid, which is, in fact, a naturally occurring carboxylic acid with antifungal as well as antibacterial properties. It is greatly utilized as a preservative within foodstuffs and animal feed, such as herbicides and pharmaceuticals and plastic production. Moreover, the increase in the demand for the preservation of animal feed to avoid mold growth and increase shelf life, thus ensuring the health of livestock, is driving the market for propionic acid. Food safety concerns, along with stringent regulatory clearances on preservatives, are adding fuel to this growth. Agriculture and herbicide applications increase in terms of drive demand. Further, application in pharmaceuticals, plastics, and personal care industries growing at a rapid rate also contribute to this growth as bio-based propionic acid production gains importance for sustainability and emissions reduction. However, the propionic acid market is facing challenges from strict environmental regulations, unstable raw material prices, health concerns over chemical preservatives, and the growing trend toward natural alternatives in the food and feed industries.
The food preservatives segment accounted for the largest share of the global propionic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of applications, the global propionic acid market is divided into herbicides, rubber products, plasticizers, food preservatives, and others. Among these, the food preservatives segment accounted for the largest share of the global propionic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to rising demand for safe, long-lasting food products and animal feed. Its antimicrobial properties help prevent mold and bacterial growth, ensuring food safety and shelf-life extension, which is crucial in livestock farming, bakery products, and packaged foods.
The agriculture segment accounted for a substantial share of the global propionic acid market in 2023 and is anticipated to grow at a rapid pace during the projected period.
On the basis of application, the global propionic acid market is divided into pharmaceuticals, personal care, food and beverage, agriculture, and others. Among these, the agriculture segment accounted for a substantial share of the global propionic acid market in 2023 and is anticipated to grow at a rapid pace during the projected period. This is attributed to the growing demand for herbicides, especially glyphosate, as well as higher global agricultural activities. Growing food security, crop protection, and sustainable farming concerns also enhance the demand for propionic acid in agriculture.
Europe is projected to hold the largest share of the global propionic acid market over the projected period.
Europe is projected to hold the largest share of the global propionic acid market over the projected period. Mainly due to the strict food safety regulations, high demand for animal feed preservatives, and extensive use of herbicides in agriculture. Germany, France, and the UK, among others, are the driving forces behind this market growth thanks to their comparatively strong agricultural sectors, great chemical industries, and increasing demand for packaged food and livestock feed additives.
North America is expected to grow at the fastest CAGR growth of the global propionic acid market during the projected period. Such rapid industrialization, increase in agricultural activities, and high demand for food preservatives and animal feed additives are boosting growth in China, India, and Japan through livestock farming and a higher amount of glyphosate herbicide, especially in developed regions, supported by the rapid expansion of packaged foods due to increased urbanization and population growth.
Company Profiling
Major vendors in the global propionic acid market are BASF SE, Dow, Eastman Chemical Company, Perstorp, Otto Chemie Pvt. Ltd., Merck KGaA, Celanese Corporation, OQ Chemicals GmbH, Daicel Corporation, SONTARA ORGANO, KANTO KAGAKU, Junsei Chemical Co., Ltd., and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global propionic acid market based on the below-mentioned segments:
Global Propionic Acid Market, By Applications
Global Propionic Acid Market, By End-User Industry
Global Propionic Acid Market, By Regional
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