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Propionic Acid Market Research Report - Global Forecast till 2027

Global Propionic Acid Market Research Report: Information by Application [Animal Feed, Food & Beverages (Bakery & Confectionery, Dairy Products, Beverages, Convenience Food, Meat, Poultry, and Seafood Products Others), Personal Care, Pharmaceuticals, Agrochemicals, and Others] and Region (North America, Europe, Asia-Pacific, and RoW)– Forecast till 2027

ID: MRFR/F-B & N/0616-HCR | February 2021 | Region: Global | 140 pages

Please note that the assessment period of report has been updated from 2019-2024 to 2020-2027. Cordially fill the sample form for updated data.

 
Market Scenario
 
The global Propionic Acid Market is expected to garner a revenue of USD 2 billion by 2024, with a CAGR of approximately 7% during the forecast period, 2019–2024. The market is expected to witness significant growth during the forecast period owing to the growth of the application industries such as animal feed, personal care, food & beverages, pharmaceuticals, and others. Propionic acid is widely being used as a preservative in animal feed and several packed food products as it helps in restricting mold growth in feed and food products. However, the lack of technological innovation in product offerings and rising environmental concerns regarding the use of herbicides are hampering the market growth. Moreover, market players are witnessing a rising challenge of reducing margins on product sales, which, in turn, is impacting their overall revenue. To overcome the impact of such challenges and gain a higher competitive edge in the global market, manufacturers of propionic acid are penetrating the untapped and developing markets. Prominent market players are focusing on their R&D activities and forward integration activities to increase profits and acquire a more extensive customer base.
 
Segmentation

The global propionic acid market has been segmented based on application, form, target, crop application, and region. 
By application, the global propionic acid market has been classified as animal feed, food & beverages, personal care, pharmaceuticals, agrochemicals, and others. The food & beverages segment is further segregated into bakery & confectionery, dairy products, beverages, convenience food, meat, poultry, and seafood products.
The global propionic acid market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. 
The North America propionic acid market has further been segmented into the US, Canada, and Mexico. The Europe propionic acid market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The propionic acid market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The propionic acid market in the rest of the world has been segmented into South America, the Middle East, and Africa. 

Key Players

BASF SE (Germany), Dow (US), Eastman Chemical Company (US), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Krishna Chemicals (India), Celanese Corporation (US), BIOMIN Holding GmbH (Austria), A.M. Food Chemical Co. Ltd (China), DAICEL CORPORATION (Japan), Kemin Industries Inc (US), Niacet (US), and Impextraco NV (Belgium) are some of the key players in the global propionic acid market.

Regional Market Summary
Europe dominated the propionic acid market in 2018 and is expected to maintain its dominance throughout the forecast period. The region’s dominance can be attributed to the increasing consumption of packed convenience food and meat, poultry, and seafood products in the region. Additionally, the rising demand for propionic acid in the pharmaceutical industry is also fuelling the growth of the regional market. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period owing to the growing animal feed industry, personal care, and food & beverages industries in the region. Additionally, agriculture is a significant industry in Asia-Pacific, which is also catalyzing market growth as propionic acid is widely used in various agrochemicals.
 
Global Propionic Acid Market, by Application


  • Animal Feed

  • Food & Beverages


    • Bakery & Confectionery

    • Dairy Products

    • Beverages

    • Convenience Food

    • Meat, Poultry, & Seafood Products

    • Others


  • Personal Care

  • Pharmaceuticals

  • Agrochemicals

  • Others


Global Propionic Acid Market, by Region

  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia & New Zealand

    • Rest of Asia-Pacific





  • Rest of the World (RoW)

    • South America

    • Middle East

    • Africa




Intended Audience

  • Propionic acid manufacturers

  • Food and beverage processors

  • Agrochemical manufacturers

  • Pharmaceutical manufacturers

  • Personal care products manufacturers

  • Raw material suppliers

  • Retailers and wholesalers

  • Traders, importers, and exporters



TABLE OF CONTENTS

1. 1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Propionic Acid Market, by Application

1.1.2. Global Propionic Acid Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.2.1. Driver 1

4.2.2. Driver 2

4.3. Restraints

4.3.1. Restraint 1

4.3.2. Restraint 2

4.4. Opportunities

4.4.1. Opportunity 1

4.4.2. Opportunity 2

4.5. Challenges

4.5.1. Challenge 1

4.5.2. Challenge 2

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis

5.2. Supply Chain Analysis

5.3. Porter’s Five Forces Model

5.3.1. Bargaining Power of Suppliers

5.3.2. Bargaining Power of Buyers

5.3.3. Threat of New Entrants

5.3.4. Threat of Substitutes

5.3.5. Intensity of Rivalry

6. GLOBAL PROPIONIC ACID MARKET, BY APPLICATION

6.1. Introduction

6.2. Animal Feed

6.2.1. Animal Feed: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3. Food & Beverages

6.3.1. Food & Beverages: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3.2. Dairy Products

6.3.2.1. Daory Products: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3.3. Bakery & Confectionery

6.3.3.1. Bakery & Confectionery: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3.4. Beverages

6.3.4.1. Beverages: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3.5. Others

6.3.5.1. Others: Market Estimates & Forecast, by Region/Country, 2020–2027

6.4. Agrochemicals

6.4.1. Agrochemicals: Market Estimates & Forecast, by Region/Country, 2020–2027

6.5. Personal Care

6.5.1. Personal Care: Market Estimates & Forecast, by Region/Country, 2020–2027

6.6. Pharmaceuticals

6.6.1. Pharmaceuticals: Market Estimates & Forecast, by Region/Country, 2020–2027

6.7. Others

6.7.1. Others: Market Estimates & Forecast, by Region/Country, 2020–2027

7. GLOBAL PROPIONIC ACID MARKET, BY REGION

7.1. Introduction

7.2. North America

7.2.1. Market Estimates & Forecast, by Application, 2020–2027

7.2.2. Market Estimates & Forecast, by Country, 2020–2027

7.2.3. US

7.2.3.1. Market Estimates & Forecast, by Application, 2020–2027

7.2.4. Canada

7.2.4.1. Market Estimates & Forecast, by Application, 2020–2027

7.2.5. Mexico

7.2.5.1. Market Estimates & Forecast, by Application, 2020–2027

7.3. Europe

7.3.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.2. Market Estimates & Forecast, by Country, 2020–2027

7.3.3. Germany

7.3.3.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.4. UK

7.3.4.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.5. France

7.3.5.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.6. Spain

7.3.6.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.7. Italy

7.3.7.1. Market Estimates & Forecast, by Application, 2020–2027

7.3.7.2. Market Estimates & Forecast, by Crop Application, 2020–2027

7.3.8. Rest of Europe

7.3.8.1. Market Estimates & Forecast, by Application, 2020–2027

7.4. Asia-Pacific

7.4.1. Market Estimates & Forecast, by Application, 2020–2027

7.4.2. Market Estimates & Forecast, by Country, 2020–2027

7.4.3. China

7.4.3.1. Market Estimates & Forecast, by Application, 2020–2027

7.4.4. Japan

7.4.4.1. Market Estimates & Forecast, by Application, 2020–2027

7.4.5. India

7.4.5.1. Market Estimates & Forecast, by Application, 2020–2027

7.4.6. Australia & New Zealand

7.4.6.1. Market Estimates & Forecast, by Application, 2020–2027

7.4.7. Rest of Asia-Pacific

7.4.7.1. Market Estimates & Forecast, by Application, 2020–2027

7.5. Rest of the World

7.5.1. Market Estimates & Forecast, by Application, 2020–2027

7.5.2. Market Estimates & Forecast, by Region, 2020–2027

7.5.3. South America

7.5.3.1. Market Estimates & Forecast, by Application, 2020–2027

7.5.4. Middle East

7.5.4.1. Market Estimates & Forecast, by Application, 2020–2027

7.5.5. Africa

7.5.5.1. Market Estimates & Forecast, by Application, 2020–2027

8. COMPETITIVE LANDSCAPE

8.1. Introduction

8.2. Competitive Benchmarking

8.3. Development Share Analysis

8.4. Key Developments & Growth Strategies

9. COMPANY PROFILES

9.1. BASF SE

9.1.1. Company Overview

9.1.2. Financial Overview

9.1.3. Products Offered

9.1.4. Key Developments

9.1.5. SWOT Analysis

9.1.6. Key Strategies

9.2. Dow

9.2.1. Company Overview

9.2.2. Financial Overview

9.2.3. Products Offered

9.2.4. Key Developments

9.2.5. SWOT Analysis

9.2.6. Key Strategies

9.3. Eastman Chemical Company

9.3.1. Company Overview

9.3.2. Financial Overview

9.3.3. Products Offered

9.3.4. Key Developments

9.3.5. SWOT Analysis

9.3.6. Key Strategies

9.4. OXEA GmbH

9.4.1. Company Overview

9.4.2. Financial Overview

9.4.3. Products Offered

9.4.4. Key Developments

9.4.5. SWOT Analysis

9.4.6. Key Strategies

9.5. Perstorp Orgnr

9.5.1. Company Overview

9.5.2. Financial Overview

9.5.3. Products Offered

9.5.4. Key Developments

9.5.5. SWOT Analysis

9.5.6. Key Strategies

9.6. Krishna Chemicals

9.6.1. Company Overview

9.6.2. Financial Overview

9.6.3. Products Offered

9.6.4. Key Developments

9.6.5. SWOT Analysis

9.6.6. Key Strategies

9.7. Celanese Corporation

9.7.1. Company Overview

9.7.2. Financial Overview

9.7.3. Products Offered

9.7.4. Key Developments

9.7.5. SWOT Analysis

9.7.6. Key Strategies

9.8. BIOMIN Holding GmbH

9.8.1. Company Overview

9.8.2. Financial Overview

9.8.3. Products Offered

9.8.4. Key Developments

9.8.5. SWOT Analysis

9.8.6. Key Strategies

9.9. A.M. Food Chemical Co. Ltd

9.9.1. Company Overview

9.9.2. Financial Overview

9.9.3. Products Offered

9.9.4. Key Developments

9.9.5. SWOT Analysis

9.9.6. Key Strategies

9.10. DAICEL CORPORATION

9.10.1. Company Overview

9.10.2. Financial Overview

9.10.3. Products Offered

9.10.4. Key Developments

9.10.5. SWOT Analysis

9.10.6. Key Strategies

9.11. Kemin Industries Inc

9.11.1. Company Overview

9.11.2. Financial Overview

9.11.3. Products Offered

9.11.4. Key Developments

9.11.5. SWOT Analysis

9.11.6. Key Strategies

9.12. Niacet

9.12.1. Company Overview

9.12.2. Financial Overview

9.12.3. Products Offered

9.12.4. Key Developments

9.12.5. SWOT Analysis

9.12.6. Key Strategies

9.13. Impextraco NV

9.13.1. Company Overview

9.13.2. Financial Overview

9.13.3. Products Offered

9.13.4. Key Developments

9.13.5. SWOT Analysis

9.13.6. Key Strategies

10. APPENDIX

10.1. General Sources & References

10.2. List of Abbreviation

 

LIST OF TABLES

Table 1 Global Propionic Acid Market, by Region, 2020–2027 (USD Million)

Table 2 Global Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 3 North America: Propionic Acid Market, by Country, 2020–2027 (USD Million)

Table 4 North America: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 5 US: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 6 Canada: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 7 Mexico: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 8 Europe: Propionic Acid Market, by Country, 2020–2027 (USD Million)

Table 9 Europe: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 10 Germany: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 11 France: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 12 Italy: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 13 Spain: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 14 UK: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 15 Rest of Europe: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 16 Asia-Pacific: Propionic Acid Market, by Country, 2020–2027 (USD Million)

Table 17 Asia-Pacific: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 18 China: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 19 India: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 20 Japan: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 21 Australia & New Zealand: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 22 Rest of Asia-Pacific: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 23 Rest of the World (RoW): Propionic Acid Market, by Country, 2020–2027 (USD Million)

Table 24 Rest of the World (RoW): Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 25 South America: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 26 Middle East: Propionic Acid Market, by Application, 2020–2027 (USD Million)

Table 27 Africa: Propionic Acid Market, by Application, 2020–2027 (USD Million)

LIST OF FIGURES

FIGURE 1 Global Propionic Acid Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Propionic Acid Market

FIGURE 4 Value Chain of the Global Propionic Acid Market

FIGURE 5 Share of the Global Propionic Acid Market in 2018, by Country (%)

FIGURE 6 Global Propionic Acid Market, by Region, 2020–2027,

FIGURE 7 Global Propionic Acid Market Size, by Application, 2018

FIGURE 8 Share of the Global Propionic Acid Market, by Application, 2020–2027 (%)