North America 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.
North America Propionic Acid and Derivatives Market Size
North America propionic acid and derivatives market size was valued at USD 543.38 million in 2023 and is projected to reach USD 885.86 million by 2031, with a CAGR of 6.30% 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, Derivatives
By Grade: Industrial Grade/Technical Grade, Food Grade, Feed Grade, Pharma Grade
By Form: Dry, Liquid
By Type: Encapsulated, Non-Encapsulated
By Source: Natural, 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
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Key Market Players
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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
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North America Propionic Acid and Derivatives Market Dynamics
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 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 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
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 analyse 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 & Beverage
- Feed
- Pharmaceuticals
- Cosmetics
- Home & Personal Care
- Agriculture
- Industrial
- Others
Propionic Acid and Derivatives Market Regional Analysis
North America propionic acid and derivatives market is analyzed 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.
Propionic Acid and Derivatives Market Share
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 propionic acid and derivatives market.
Propionic Acid and Derivatives Market Leaders Operating in the 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.
- Daicel Corporation
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