The propionic acid market is projected to reach a valuation of USD 3.11 billion by 2032, from USD 1.56 billion in 2022. According to estimates, this market will grow at the highest rate of 7.3% between 2023 and 2032.
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"The Global Propionic Acid Market 2022-2032 (USD Billion)")
The major driver of the global Propionic acid market is increasing application of the propionic acid as a preservative in food and animal feed. Consumption of propionic acid in the herbicides and in the manufacture of cellulose acetate propionate is also expected to be significant through 2025. The rise in demand for hygienic food which leads a chance to the preservative market certainly also provides a chance to the market of the propionic acid for its use as a mold inhibitors in food products. Also, due to changing times, there is high demand for packaged food, which requires preservatives and thus acts as a fuel for Propionic acid market across the globe.
Also, the growth of macroeconomic growth of agricultural industry also pushes the demand for propionic acid market. The propionic acid is used to control mold on the crops and protect various agricultural products from bacteria. The Cellulose acetate propionate (CAP) is also manufactured from the propionic acid. Moderately growing downstream consumption of CAP is expected to facilitate the growth of the global propionic acid market, though at a modest CAGR, over the forecast period. Propionic acid is colorless and has a pungent smell. Human exposure to the propionic acid is dangerous and it thus, need to be handled carefully. It is miscible with water and few solvents like carboxylic acid, carboxyethyl, ethane carboxylic acid, ethyl formic acid, etc. propionic acid is naturally occurring and its key raw materials are carbon monoxide and ethylene. It is naturally available in the forms of esters in essential oils.
Propionic acids acts a synthetic intermediate to produce pharmaceuticals, crop protection agents and solvents. Moreover, propionic acid is used to manufacture esters, vitamin E and also as a flavoring agent in food products. Growth trends of food, feed, and pharmaceutical are expected to push the growth and increase the CAGR of the global propionic acid market in the forecast period.
Leading players of the global propionic acid market include The Dow chemical company, Eastman Chemical Company, Macco Organiques Inc., The Prestorp Group, Hawkins, BASF SE, and more others.
The global propionic acid market is segmented to several classifications including application outlook, end-users industrial outlook, and regional outlook. Based on the application outlook, the market is categorized by Animal feed & food preservatives, Calcium and sodium Salts, Cellulose acetate propionate, Herbicides, and Others (Flavors, fragrances, etc.). Furthermore, based on the end-user industrial outlook, the market is driven by Agriculture, Food and Beverage, Personal Care, Chemical, and Pharmaceutical. Whereas, on the basis of regional outlook the market is widely spread in North America, Latin America, Asia-Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa.
Propionic Acid Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 3.11 billion |
| Growth Rate | CAGR of 7.3% during 2023-2032 |
| Segment Covered | Application, End user, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Dow chemical company, Eastman Chemical Company, Macco Organiques Inc., The Prestorp Group, Hawkins, BASF SE. |
Key Segmentation of the global propionic acid
Application Outlook of global propionic acid
- Animal feed & food preservatives
- Calcium and sodium Salts
- Cellulose acetate propionate
- Herbicides
- Others (Flavors, fragrances, etc.)
End user Industry Outlook of the global propionic acid
- Agriculture
- Food and Beverage
- Personal Care
- Chemical
- Pharmaceutical
Regional Outlook of the global propionic acid
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
Frequently Asked Questions (FAQ) :
The application of the propionic acid market Animal feed & food preservatives, Calcium and sodium Salts, Cellulose acetate propionate, Herbicides and other.
The major players are The Dow chemical company, Eastman Chemical Company, Macco Organiques Inc., The Prestorp Group, Hawkins, BASF SE.
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