Global Propionic Acid Market

Propionic Acid Market Size, Share, Growth Analysis, By Application (Animal Feed, Cellulose Acetate Propionate), By End Use Industry, By Region - Industry Forecast 2025-2032


Report ID: SQMIG15E2345 | Region: Global | Published Date: December, 2024
Pages: 265 | Tables: 67 | Figures: 75

Propionic Acid Market Dynamics

Propionic Acid Market Driver

Packaged food to witness major use of propionic acids in the packing stages

  • One of the major causes of the market expansion is the increasing usage of propionic acid as a preservative in packaged foods and animal feed. Another important factor driving the industry's expansion is the use of propionic acid in the production of cellulose acetate propionate and herbicides. The demand for packaged food, particularly hygienic food products, has increased as a result of changes in consumer lifestyles. This market is also growing as a result of the use of propionic acid, which is primarily used as a preservative to extend the shelf life of food products and prevent the growth of bacteria and fungus. In 2020, 471 kilo tonnes of propionic acid were consumed and 538 kilo tonnes were consumed in 2025.

Propionic Acid Market Restraint

Rising Environmental Concerns

  • One of the key factors limiting the market growth is the escalating environmental concerns regarding the use of herbicides. Another aspect that impedes the industry development is the lack of creativity in packaging.
  • Another reason that can serve as a roadblock to the expansion is how the industry participants are being pressured to cut margins on product sales. This is having an impact on overall revenue. Lack of production facilities and the variety of negative effects caused by direct contact to propionic acid are two additional reasons that could restrain this market expansion.
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FAQs

Global Propionic Acid Market size was valued at USD 1.05 billion in 2022 and is poised to grow from USD 1.1 billion in 2023 to USD 1.42 billion by 2031, growing at a CAGR of 3.78% in the forecast period (2024-2031). 

Global Propionic Acid Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'BASF SE ', 'Dow ', 'Eastman Chemical Company ', 'Perstorp Holdings AB ', 'Celanese Corporation ', 'Hawkins Inc. ', 'Merck KGaA ', 'Yancheng Huade Biological Engineering Co. Ltd ', 'Sasol ', 'Daicel Corporation ', 'Shanghai Jianbei Organic Chemical Co. Ltd ', 'Niacet Corporation ', 'Prathista Industries ', 'BIOMIN ', 'BASF-YPC Co., Ltd ', 'Global BioChem Technology Group Co. Ltd ', 'Emsland-Stärke GmbH ', 'Avebe ', 'Grain Processing Corporation ', 'SMS Corporation Co., Ltd'

Globally, the propionic acid market is dominated by Europe. An increase in the consumption of packaged convenience foods and meat, poultry, and seafood items in this region is one of the major reasons for the market expansion. Additionally, one of the key reasons driving the market expansion in this region is the rise in the use of propionic acid in the pharmaceutical industry. At a double-digit CAGR throughout the forecast period, Asia Pacific is projected to be the second-largest market. The expanding food & beverage, personal care, and animal feed industries are the causes of this expansion. Another factor driving market growth in this region, driven by India, China, and Japan, is the growing use of propionic acid in various agrochemicals. The agriculture industry is also a prominent one in this region.

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Global Propionic Acid Market

Report ID: SQMIG15E2345

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