According to Straits Research, “The global propionic acid market was valued at US$1.3 billion in 2022. It is expected to reach US$1.74 billion by 2031, growing at a CAGR of 3.3% during the forecast period (2023-2031).”
        New York, USA, March 28, 2024 (GLOBE NEWSWIRE) — The chemical name of propionic acid is carboxylic acid and its chemical formula is CH3CH2COOH. Propionic acid is a colorless, odorless, liquid organic acid produced by fermentation. Propionic acid is an approved bactericide and bactericide for the control of fungi and bacteria in stored grain, poultry manure, and drinking water for cattle and poultry. Propionic acid is most often used as a flexible preservative in human and animal foods. As a synthetic intermediate, it is used in the production of crop protection products, pharmaceuticals and solvents. In addition, propionic acid is used in the production of esters, vitamin E and as a dietary supplement.
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       Growing applications in food, beverage and agriculture industries are driving the global market.
        Propionic acid inhibits the growth of various molds. It is also a natural preservative that can extend the shelf life of baked goods such as cheese, bread and tortillas. They are also used in the packaging of many ready-to-eat foods to preserve them. The use of propionic acid in the food and beverage industry is a major driver of market expansion. In agriculture, propionic acid is used to preserve grain and animal feed. Used for disinfection of grain and silo storage facilities.
        Additionally, propionic acid is used as an antibacterial agent in animal drinking water. Even chicken droppings are treated with antibacterial and antifungal agents. According to the OECD-FAO Agricultural Outlook 2020-2029, feed consumption will increase as the livestock industry expands. Projections show that imports of corn, wheat and protein meal will meet 75% of global feed demand. This trend is driven by policies that prioritize the production of food crops over feed crops. Hence, these growth drivers are expected to drive revenue growth in the propionic acid market over the forecast period.
       The use of propionic acid as an antibiotic and propionate esters as solvents opens up enormous possibilities.
        Propionic acid is an approved bactericide and fungicide for use in grain storage, hay, poultry litter and drinking water for livestock and poultry. Propionic acid is an effective antimicrobial growth promoter for human health and animal products. Use acid esters as solvents or artificial flavors instead of chemical flavors. The diverse applications of propionic acid offer enormous market growth opportunities.
        The European propionic acid market share is expected to grow at a CAGR of 2.7% during the forecast period. Europe is expected to expand at a moderate pace and is home to numerous propionic acid manufacturers and suppliers. Germany is the region’s main market for food processing and agriculture. Thus, the use of propionic acid in both industries has stimulated market expansion. Additionally, Cosmetics Europe said the European cosmetics and personal care business is valued at €76.7 billion in 2021. Consequently, the growth of the cosmetics industry in Europe is expected to increase the demand for propionic acid in the region. These properties, in turn, increase the demand for propionic acid in various industries. On the other hand, the quality of the Italian industrial and pharmaceutical system has previously attracted production activities from abroad. Over the past ten years, output and production volume have increased by more than 55%. Thus, the propionic acid market is expected to grow in the coming years.
        North America is expected to grow at a CAGR of 3.6% during the forecast period. The propionic acid market in the USA, Canada and Mexico has been assessed. The United States has made important contributions to regional economic development. Many of the region’s industrial sectors have contributed to economic growth. In addition, North America is an important market for packaged and prepared foods. The region’s busy lifestyle stimulated the consumption of canned foods. Propionic acid has expanded the market for propionic acid as a food preservative. Moreover, the expansion of the agricultural sector and the growing demand for poultry products have led to an increase in the use of propionic acid, thereby driving market expansion. On the other hand, the adverse effects of herbicide residues and propionic acid on human health are hindering market expansion.
        Based on application, the global propionic acid market is segmented into herbicides, rubber products, plasticizers, food preservatives and others. The food preservatives segment is the largest contributor to the market and is expected to grow at a CAGR of 2.7% during the forecast period.
        Based on end-use industry, the global propionic acid market is segmented into Pharmaceuticals, Personal Care, Food & Beverage, Agriculture and Others. The food and beverage segment holds the largest market share and is expected to grow at a CAGR of 2.4% during the forecast period.
       Europe is the most important shareholder in the global propionic acid market and is expected to grow at a CAGR of 2.7% during the forecast period.
        In September 2022, Kemin Industries introduced Shield Pure, a mold inhibitor that provides bakers with synthetic mold inhibitors such as calcium propionate and propionic acid, at the International Baking Industry Show in Las Vegas. Shield Pure has been shown to extend the shelf life of baked goods such as white bread and tortillas.
        In October 2022, BASF began offering neopentyl glycol (NPG) and propionic acid (PA) with zero carbon footprint (PCF). NPG ZeroPCF and PA ZeroPCF products are manufactured by BASF at its integrated plant in Ludwigshafen, Germany, and sold worldwide.
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