IMARC Group, a leading market research company, has recently released a report titled “Propionic Acid Market Report by Application (Animal Feed, Grain Preservatives, Cellulose Acetate Propionate, Herbicides, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Personal Care, Food and Beverage, Agriculture, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global propionic acid market share, trends, size, and industry growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global propionic acid market size reached US$ 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.7% during 2024-2032.

Global Propionic Acid Market Trends:

The global propionic acid market is driven by a diverse set of factors contributing to its growth and expansion, such as the rising demand for food preservatives, owing to increased consumer preference for longer shelf life and safety, fuels propionic acid's application in the food and beverage (F&B) industry. In line with this, its use in animal feed as a preservative and to promote animal health boosts its demand in the agriculture sector. Furthermore, the expanding pharmaceuticals sector benefits from propionic acid's role in producing various medicinal compounds and as a precursor in pharmaceutical synthesis.

Additionally, the growth of the construction industry, where propionic acid is used in manufacturing concrete and coatings, contributes to market expansion.  

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Factors Affecting the Growth of the Propionic Acid Industry:

Rising Demand for Food Preservatives

The increasing global demand for food preservatives is a significant driver of the propionic acid market. As consumers become more aware of food safety and shelf life, the need for effective preservation techniques grows. Propionic acid is widely used in the food and beverage industry due to its ability to inhibit mold and bacterial growth, thereby extending the shelf life of various products, including bread, dairy, and processed foods. The rise in convenience foods and the demand for longer-lasting products in both developed and emerging markets further boosts propionic acid’s relevance.

Additionally, regulatory standards and consumer preferences for clean labels and natural preservatives push food manufacturers towards using propionic acid as it is recognized as a safe and effective option. 

Use in Animal Feed

Propionic acid's application in animal feed is another key factor driving its market growth. In the agriculture sector, propionic acid is utilized as a preservative and a growth promoter, enhancing feed quality and animal health. It helps in preventing mold and bacterial contamination in stored feed, which can otherwise lead to significant losses and health issues in livestock. By ensuring feed safety and improving nutritional value, propionic acid contributes to better animal performance and productivity. The rising global demand for meat and dairy products necessitates efficient and sustainable feed solutions, further driving the demand for propionic acid.

Additionally, its use in feed additives aligns with the growing emphasis on animal welfare and productivity, making it a valuable component in modern agricultural practices. 

Growth of Pharmaceuticals Sector

The pharmaceutical industry’s expansion significantly impacts the propionic acid market. Propionic acid is a critical intermediate in the synthesis of various pharmaceutical compounds, including medications used to treat a range of conditions. Its role as a building block in drug formulation enhances its importance in pharmaceutical manufacturing. The growth of the pharmaceuticals sector, driven by increased healthcare needs and advancements in drug development, fuels the demand for propionic acid.

Furthermore, its applications in the production of pharmaceuticals, such as anti-inflammatory drugs and anesthetics, highlight its utility in diverse therapeutic areas. As global healthcare systems evolve and pharmaceutical research progresses, the need for high-quality chemical intermediates like propionic acid rises.

Propionic Acid Market Report Segmentation:

By Application:

By the application, the market is segmented into animal feed, grain preservatives, cellulose acetate propionate, herbicides, plasticizers, and others.

By End Use Industry:

Based on the end use industry, the market is divided into pharmaceuticals, personal care, food and beverage, agriculture, and others.

Regional Insights:

Regionally, the market is categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.   

Competitive Landscape with Key Players:

The competitive landscape of propionic acid market size 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

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

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.

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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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