IMARC Group has recently released a new research study titled “Propionic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global propionic acid market share, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

The market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028.

What is propionic acid?

Propionic acid is a colorless carboxylic acid with a pungent odor and is miscible with water. Propionic acid occurs naturally in small amounts in some foods, such as cheese, butter, and vinegar. It is primarily produced industrially through the oxidation of propionaldehyde or by the fermentation of carbohydrates.

Characteristics of propionic acid include its acidic nature, volatility, and corrosiveness. It has a low pH and can react with certain metals, plastics, and organic materials. Propionic acid is also known for its antimicrobial properties, making it effective as a preservative against mold and bacteria.

One of the key features of propionic acid is its application as a preservative in the food and feed industries, wherein it is commonly used to prevent the growth of fungi and bacteria in baked goods, dairy products, beverages, and animal feed. Some of the other industries where propionic acid finds its application include pharmaceuticals and agriculture.

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What are the growth prospects and trends in the industry?

The growing need for extending the shelf life of food products represents one of the key factors influencing the market growth. Moreover, propionic acid is widely used in animal feed to prevent mold growth, enhance feed quality, and improve animal health, which is fueling the market growth.

The extensive demand for propionic acid as a raw material to produce various specialty chemicals, such as perfumes, solvents, and dyes is driving the market growth.

Advancements in propionic acid production processes, including fermentation and oxidation techniques are contributing to increased production capacity, which is contributing to the market growth.

Consumers are increasingly demanding natural and clean-label food products, thereby leading to the widespread adoption of propionic acid as a natural preservative. This is propelling the market growth.

Strict regulations regarding food safety and quality, including the maximum allowed levels of mold and bacteria, are facilitating the demand for propionic acid as a preservative to meet regulatory standards, which is contributing to the growth of the global propionic acid market.

Propionic acid is widely used in the bakery industry to prevent mold growth in bread, cakes, and other baked goods, thereby fueling its market growth. The dairy industry utilizes propionic acid as a preservative in cheese, yogurt, and other dairy products, which is driving the market growth.

The rising global consumption of meat and poultry products is creating a significant demand for propionic acid as a preservative to ensure product safety and quality, which is fostering the market growth.

Furthermore, the rising awareness regarding animal welfare is leading to the use of propionic acid as a mold inhibitor in animal feed as it helps maintain feed quality and reduce the risk of mycotoxin contamination, which is driving the market growth.

Other factors, such as increasing population and urbanization and the extensive research and development (R&D) activities, are creating a positive outlook for the market across the globe.

Competitive Landscape With Key Players:

The competitive landscape of the propionic acid market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• BASF SE
• Celanese Corporation
• Daicel Corporation
• Dow Chemical Company
• Eastman Chemical Company
• Hawkins Inc.
• Impextraco NV
• Macco Organiques Inc.
• OQ Chemicals GmbH
• Perstorp Holding AB

Key Market Segmentation:

The report has segmented the global propionic acid market based on application, end use industry and region.

Breakup by Application:

• Animal Feed
• Grain Preservatives
• Cellulose Acetate Propionate
• Herbicides
• Plasticizers
• Others

Breakup by End Use Industry:

• Pharmaceuticals
• Personal Care
• Food and Beverage
• Agriculture
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/propionic-acid-market

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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