Propionic Acid Market Report by Application (Animal Feed, Grain Preservatives, Cellulose Acetate Propionate, Herbicides, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Personal Care, Food and Beverage, Agriculture, and Others), and Region 2024-2032

Propionic Acid Market Report by Application (Animal Feed, Grain Preservatives, Cellulose Acetate Propionate, Herbicides, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Personal Care, Food and Beverage, Agriculture, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A3404
Buy Now

Market Overview 2024-2032:

The global propionic acid market size reached US$ 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.7% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1.8 Billion
Market Forecast in 2032
US$ 2.3 Billion
Market Growth Rate (2024-2032) 2.7%


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 2024-2032. 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Application, End Use Industry, Region
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global propionic acid market was valued at US$ 1.8 Billion in 2023.

We expect the global propionic acid market to exhibit a CAGR of 2.7% during 2024-2032.

The rising demand for propionic acid as a preservative and an additive in packed foods and animal feed, as it aids to prevent microbial and fungal growth, is primarily driving the global propionic acid market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for propionic acid.

Based on the application, the global propionic acid market has been segregated into animal feed, grain preservatives, cellulose acetate propionate, herbicides, plasticizers, and others. Among these, animal feed currently holds the largest market share.

Based on the end use industry, the global propionic acid market can be bifurcated into pharmaceuticals, personal care, food and beverage, agriculture, and others. Currently, food and beverage exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global propionic acid market include 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.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Propionic Acid Market Report by Application (Animal Feed, Grain Preservatives, Cellulose Acetate Propionate, Herbicides, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Personal Care, Food and Beverage, Agriculture, and Others), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More