MARKET INTRODUCTION
Propionic acid is a colorless organic acid fluid manufactured using a fermentation process. Propionic acid helps the growth of various molds. It also holds antibacterial properties. Moreover, it is a natural preservative and is used in baked and cheese goods such as bread and tortillas for preservation to increase their shelf life. Propionic acid are also used in the packaging of numerous ready-to-eat food with the objective of increasing shelf life and preservation. Aforesaid uses of propionic acid in the food & beverage industry is fueling the market growth to a greater extent.
MARKET DYNAMICS
Propionic acid is known for natural preservatives and can be used as an ingredient in numerous foodstuff products while processing. Though, if not used carefully, this fluid may cause severe burns and pain if it gets into an individual's eyes, which can lead to severe irritation and possibly blindness. Hence, these factors are anticipated to hamper the market growth. Propionic acid is a bactericide and fungicide, well-known for controlling bacteria and fungi in stored hay, grains, grain storage areas, drinking water for livestock and poultry, and poultry litter. The esters of acid are used as artificial flavorings or solvents replacing the chemical ones.
MARKET SCOPE
The "Global Propionic Acid Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the propionic acid with detailed market segmentation by application and end use industry. The global propionic acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading propionic acid market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global propionic acid market is segmented on the basis of application into herbicides, rubber products, plasticizers, food preservatives, and others. On the basis of end use industry the propionic acid market is segmented into pharmaceuticals, personal care, food & beverage, agriculture, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global propionic acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The propionic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the propionic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the propionic acid market in these regions.
MARKET PLAYERS
The reports cover key developments in the propionic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from propionic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for propionic acid in the global market. Below mentioned is the list of few companies engaged in the propionic acid market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the propionic acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 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 Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.