Market Overview:
In addition, the global propionic acid market is expected to rise at a CAGR of 3.78%, with a value of USD 1.4 billion during the estimated the forecasting year of 2022-2030.
The fermentation method creates the colorless, smelly liquid organic acid known as propionic acid. It hinders the development of different moulds. Additionally, it has antimicrobial qualities. Additionally, it is a natural preservative added to cheese and baked items like bread and tortillas to prolong their shelf life. With the intention of preservation, they are also utilized in packaging various ready-to-eat foods. As mentioned earlier, propionic acid applications fuel market expansion in the food and beverage sector.
Propionic acid is a safe intermediate that may be employed in various manufacturing processes since it is a natural preservative. However, if skin contact is not done so safely, it might result in painful and serious burns. It can cause acute irritability and blindness if it goes into someone's eyes. Therefore, it is anticipated that these issues would limit market expansion. Propionic acid is approved to manage fungus and bacteria in grain storage facilities, hay, poultry litter, and animal and poultry drinking water as a fungicide and bactericide. Propionic acid works effectively as an antimicrobial growth promoter for both the safety of human health and safe animal goods.
One of the main causes of the expansion of this propionic acid market is the increasing usage of propionic acid as a preservative in packaged foods and animal feed. Another important factor driving this 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 due to changes in consumer lifestyles. This market is also growing due to propionic acid, primarily used as a preservative to extend the shelf life of food products and prevent the growth of bacteria and fungus.
Market Segmentation:
The global market has been divided into application and regional sectors. The application section is further classified into animal feed, food beverages, bakery confectionery, dairy products, beverages, convenience food, meat, poultry and seafood products and others. Five parts are further separated into a regional basis. The Middle East, Asia-Pacific, Africa, Europe, North and South America,
Regional Analysis:
The largest market in Europe for the food and agricultural industries in Germany. The market for propionic acid is anticipated to expand favorably, helped by increasing expenditures in the food sector. In the agricultural sector, propionic acid is utilized as a preservative in grain and animal feed. Additionally, it is utilised to clean the areas where grain and silage are kept. Additionally, propionic acid is utilized as an antibacterial agent in water cattle consume for drinking. Even in poultry litter, they are sprayed to eradicate germs and fungus.
The expanding food beverage, personal care, and animal feed industries are the causes of this expansion. Another factor driving market expansion in this area, driven by India, China, and Japan, is the growing use of propionic acid in various agrochemicals. The agricultural industry is also a prominent one in this region.
BASF Se (GERMANY), The Dow Chemical Company (US), Eastman Chemical Company (US), Oxea GMBH (GERMANY), PERSTORP ORGNR (SWEDEN), Krishna Chemicals (INDIA), Celanese Corporation (US), BIOMIN HOLDING GMBH (AUSTRIA), A.M. FOOD CHEMICAL CO. LTD (CHINA), DAICEL CORPORATION (JAPAN), KEMIN INDUSTRIES INC (US), NIACET CORPORATION (US), IMPEXTRACO NV (BELGIUM), and HAWKINS INC. are some of the key propionic acid market players.
Industrial News:
The European region will dominate the market for propionic acid, and the increase in the consumption of packaged convenience foods and meat, poultry, and seafood items in this area is cited as the cause. Additionally, one of the key reasons driving the market expansion in this area is the rise in the usage of propionic acid in the pharmaceutical industry.
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