Propionic Acid Market Size | Shares, Opportunities, Competitive Analysis, Key Findings and Growth Forecast to 2026

CAGR of 3.5%Propionic Acid Market

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Prime determinants of growth:

Significant increase in application in the food & beverage industry as a preservative and packaging of ready-to-eat food along with rise in demand for safe animal feed drive the global propionic acid market. However, adverse side effects on human health and concerns regarding usage of herbicides hinder the market growth. On the other hand, application of propionate esters as solvents and propionic acid as antibiotics provide new opportunities in next few years.

Leading market players:

BASF SE

Dow Inc.

Eastman Chemical Company

Perstorp Holding AB

Hawkins, Inc.

Corbion N.V.

Otto Chemie Pvt. Ltd.

Merck KGaA

Oman Oil Company SAOC

Celanese Corporation


The food preservative segment to dominate during the forecast period:

Based on application, the food preservative segment accounted for more than two-fifths of the total share of the global propionic acid market in 2018, and is expected to dominate during the forecast period. This is attributed to preference for ready-to-eat food and demand for propionic acid to reduce spoilage. However, the rubber products segment is expected to maintain the highest CAGR of 5.1% from 2019 to 2026. This is due to surge in usage as intermediate for production of rubber from the automobile industry.

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The food & beverage segment to contribute its highest share by 2026:

highest CAGR

North America to grow the fastest:

Based on region, North America is estimated to portray the largest CAGR of 4.0% from 2019 to 2026, owing to the growth of the agriculture sector and increase in demand for poultry products. However, Europe contributed to the highest market share in 2018, holding nearly two-fifths of the global propionic acid market, and is estimated to maintain its dominance in terms of revenue by 2026. This is due to presence of many producers and suppliers of propionic acid and surge in investments in the food industry.

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I am Sr. Research Consultant , As a #Materials and #Chemicals #Research Analyst you will be well versed in data analysis, tracking operations, valuation and forecasting. High value is placed on providing comprehensive tailored business research and competitive analysis. Engaged in delivering strategic and financially beneficial databases, reports, industry operations, mergers and acquisitions.
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