Global Propionic Acid and Derivatives Market Segmentation, 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 and Beverage, Feed, Pharmaceuticals, Cosmetics, Home and Personal Care, Agriculture, Industrial and others) - Industry Trends and Forecast to 2031.
Global Propionic Acid and Derivatives Market Size
Global propionic acid and derivatives market size was valued at USD 1.79 billion in 2023 and is projected to reach USD 2.87 billion by 2031, with a CAGR of 6.1% during the forecast period of 2024 to 2031
Report Scope and Market Segmentation
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Attributes
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Propionic Acid and Derivatives Key Market Insights
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Segmentation
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By Product: Propionic Acid and Derivatives
By Grade: Industrial Grade/Technical Grade, Food Grade, Feed Grade, and Pharma Grade
By Form: Dry and Liquid
By Type: Encapsulated and Non-Encapsulated
By Source: Natural and Synthetic
By Application: Food and Beverage, Feed, Pharmaceuticals, Cosmetics, Home and Personal Care, Agriculture, Industrial and Others
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Countries Covered
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U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Italy, rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Oman, Qatar and rest of Middle East and Africa
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Key Market Players
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Kemin Industries, Inc., A.M FOOD CHEMICAL CO., LIMITED, Perstorp, BASF SE, Biomin, Dow, Impextraco NV, Palital Feed Additives B.V., Macco Organiques Inc., Finoric LLC, Spectrum Chemical Manufacturing Corp., Niacet, Monarch Chemicals Ltd, Eastman Chemical Company, Celanese Corporation, Cayman Chemical, NOVUS INTERNATIONAL, Trouw Nutrition USA, LLC., Daicel Corporation and Krishna Chemicals
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Global Propionic Acid and Derivatives Market Dynamics
The rising demand from feed and food preservative manufacturers is leading the growth of the propionic acid & derivatives market. The use of propionic acid is increasing in various applications such as in feed preservatives, food preservatives and many others. Also, if they are used in an appropriate proportion, they can increase the feed intake in animals. So, the propionic acid and its derivatives have less side effects and it is safe for use in various applications and acting as driving factor for the propionic acid and derivatives market. The increasing demand for propionic acid in various applications is increasing the prices of propionic acid and its derivatives. Hence, it can act as a restraining factor for the propionic acid and derivatives market.
The propionic acid helps in the prevention of animal feed from mold and other bacteria’s and thus helps in promoting the growth in animals by increasing the quality of feed. Hence, it can be the great opportunity for propionic acid producers in the propionic acid and derivatives market. The health hazards related to the propionic acid are very dangerous and in a severe case, it can lead to the death of the person as well. Hence, this can be a challenge for propionic acid manufacturers in the propionic acid and derivatives market.
This propionic acid and derivatives market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized 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 propionic acid and derivatives market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Propionic Acid and Derivatives Market Scope
The propionic acid and derivatives market is segmented into six notable segments which are based on product, grade, form, type, source, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
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 and Beverage
- Feed
- Pharmaceuticals
- Cosmetics
- Home and Personal Care
- Agriculture
- Industrial
- Others
Propionic Acid and Derivatives Market Regional Analysis
Global propionic acid and derivatives market is analyzed and market size information is provided by country, product, grade, form, type, source and application as referenced above.
The countries covered in the global propionic acid and derivatives market report are the U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Italy, rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Oman, Qatar and rest of Middle East and Africa.
Europe is dominating in the propionic acid and derivatives market because of the rising demand from feed and food preservative manufacturers in the region along with the increasing demand for the packaged and processed foods for propionic acid and its derivatives.
North America is expected to grow during the forecast period because of the high consumption of GMO foods in the U.S. and the huge benefits of propionic acid and its salts in cosmetics industry for propionic acid and derivatives manufacturers.
Asia-Pacific is dominating in the propionic acid and derivatives market with the third highest market share because of the technological advancements in the propionic acid production in the China as the time required for the downstream process is less in the region as compared to the batch fermentation process and the productivity is also high by the new technologies in the region.
The country section of the 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 global 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.
Propionic Acid and Derivatives Market Share Analysis
Global 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 market.
Propionic Acid and Derivatives Market Leaders Operating in the Market Are:
- Kemin Industries, Inc.
- A.M FOOD CHEMICAL CO.LIMITED
- Perstorp
- BASF SE
- Biomin
- Dow
- Impextraco NV
- Palital Feed Additives B.V.
- Macco Organiques Inc.
- Finoric LLC
- Spectrum Chemical Manufacturing Corp.
- Niacet
- Monarch Chemicals Ltd
- Eastman Chemical Company
- Celanese Corporation
- Cayman Chemical
- NOVUS INTERNATIONAL
- Trouw Nutrition USA, LLC.
- Daicel Corporation
- Krishna Chemicals
Latest Developments in Propionic Acid and Derivatives Market
- In May 2019, BASF SE and SINOPEC have created a joint venture in Nanjing, China. This was the company’s second propionic acid production plant at the Verbund site, BASF-YPC Co., Ltd. The new plant has an annual production capacity of 30,000 metric tons of propionic acid. The total capacity of the two plants has thus been increased to 69,000 metric tons per year.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the propionic acid and derivatives market which also provides the benefit for organization to improve their offering for propionic acid and derivatives.
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