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PUBLISHER: IMARC | PRODUCT CODE: 1378901
PUBLISHER: IMARC | PRODUCT CODE: 1378901
Propionic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 145 Pages
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Abstract
The global propionic acid market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2022-2028.
Propionic acid (PA) refers to a naturally occurring colorless and corrosive carboxylic acid. It is produced by the chemical reaction of carbon monoxide and water and consists of a short-chain saturated fatty acid attached to a carboxyl carbon. Propionic acid is available in the liquid state and can be commercially synthesized through fermentative, biosynthetic and amino acid catabolic pathways. It is commonly used as a preservative and an additive in packed foods and animal feed to prevent microbial and fungal growth. It also finds extensive applications across various industries, including chemical, cosmetics and pharmaceuticals.
Significant growth in the agriculture industry, along with the increasing consumption of dairy, livestock and poultry products across the globe, represents one of the key factors creating a positive outlook for the market. Propionic acid is widely used as an efficient grain preservative as it aids in reducing microbial growth in stored grains, hay, poultry litter and water for the livestock. Furthermore, the increasing demand for natural preservatives for ready-to-eat (RTE) and canned food products is also augmenting the market growth. The acid is also added to cheese and baked products to increase their shelf life. In line with this, the esters of the acid are utilized as artificial flavorings or solvents as an alternative to the chemical variants. Additionally, various technological advancements, such as the utilization of co-culture, metabolic and genetic engineering, immobilization technique and bioreactor systems, in the biological production of propionic acid through microorganisms and renewable biomass, are acting as other growth-inducing factors. Moreover, the increasing concerns regarding food safety, along with extensive research and development (R&D) activities in the field of biotechnology, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global propionic acid market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application and end use industry.
Breakup by Application:
Animal Feed
Grain Preservatives
Cellulose Acetate Propionate
Herbicides
Plasticizers
Others
Breakup by End Use Industry:
Pharmaceuticals
Personal Care
Food and Beverage
Agriculture
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Celanese Corporation, Daicel Corporation, Dow Chemical Company, Eastman Chemical Company, Hawkins Inc., Impextraco NV, Macco Organiques Inc., OQ Chemicals GmbH and Perstorp Holding AB.
Key Questions Answered in This Report
- 1. How big is the global propionic acid market?
- 2. What is the expected growth rate of the global propionic acid market during 2023-2028?
- 3. What are the key factors driving the global propionic acid market?
- 4. What has been the impact of COVID-19 on the global propionic acid market?
- 5. What is the breakup of the global propionic acid market based on the application?
- 6. What is the breakup of the global propionic acid market based on the end use industry?
- 7. What are the key regions in the global propionic acid market?
- 8. Who are the key players/companies in the global propionic acid market?
Product Code: SR112023A3404
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Propionic Acid Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Application
- 6.1 Animal Feed
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Grain Preservatives
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Cellulose Acetate Propionate
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Herbicides
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Plasticizers
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by End Use Industry
- 7.1 Pharmaceuticals
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Personal Care
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Food and Beverage
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Agriculture
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 BASF SE
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 Financials
- 13.3.1.4 SWOT Analysis
- 13.3.2 Celanese Corporation
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.2.4 SWOT Analysis
- 13.3.3 Daicel Corporation
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.3.3 Financials
- 13.3.3.4 SWOT Analysis
- 13.3.4 Dow Chemical Company
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.5 Eastman Chemical Company
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.5.4 SWOT Analysis
- 13.3.6 Hawkins Inc.
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Impextraco NV
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.7.3 Financials
- 13.3.8 Macco Organiques Inc.
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 OQ Chemicals GmbH
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.10 Perstorp Holding AB
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.10.3 Financials
- 13.3.10.4 SWOT Analysis
- 13.3.1 BASF SE
Product Code: SR112023A3404
List of Figures
- Figure 1: Global: Propionic Acid Market: Major Drivers and Challenges
- Figure 2: Global: Propionic Acid Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Propionic Acid Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Propionic Acid Market: Breakup by Application (in %), 2022
- Figure 5: Global: Propionic Acid Market: Breakup by End Use Industry (in %), 2022
- Figure 6: Global: Propionic Acid Market: Breakup by Region (in %), 2022
- Figure 7: Global: Propionic Acid (Animal Feed) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: Propionic Acid (Animal Feed) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: Propionic Acid (Grain Preservatives) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Propionic Acid (Grain Preservatives) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Propionic Acid (Cellulose Acetate Propionate) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Propionic Acid (Cellulose Acetate Propionate) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Propionic Acid (Herbicides) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Propionic Acid (Herbicides) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Propionic Acid (Plasticizers) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Propionic Acid (Plasticizers) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Propionic Acid (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Propionic Acid (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Propionic Acid (Pharmaceuticals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Propionic Acid (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Propionic Acid (Personal Care) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Propionic Acid (Personal Care) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Propionic Acid (Food and Beverage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Propionic Acid (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Propionic Acid (Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Propionic Acid (Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Propionic Acid (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Propionic Acid (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: North America: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: North America: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: United States: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: United States: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Canada: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Canada: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Asia-Pacific: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Asia-Pacific: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: China: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: China: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Japan: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Japan: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: India: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: India: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: South Korea: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: South Korea: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Australia: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Australia: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Indonesia: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Indonesia: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Others: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Others: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Europe: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Europe: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Germany: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Germany: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: France: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: France: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: United Kingdom: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: United Kingdom: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Italy: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Italy: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Spain: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Spain: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Russia: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Russia: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Latin America: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Latin America: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Brazil: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Brazil: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Mexico: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Mexico: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Others: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Others: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Middle East and Africa: Propionic Acid Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Middle East and Africa: Propionic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Middle East and Africa: Propionic Acid Market: Breakup by Country (in %), 2022
- Figure 79: Global: Propionic Acid Industry: SWOT Analysis
- Figure 80: Global: Propionic Acid Industry: Value Chain Analysis
- Figure 81: Global: Propionic Acid Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Propionic Acid Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Propionic Acid Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 3: Global: Propionic Acid Market Forecast: Breakup by End Use Industry (in Million US$), 2023-2028
- Table 4: Global: Propionic Acid Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Propionic Acid Market: Competitive Structure
- Table 6: Global: Propionic Acid Market: Key Players
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