Sodium Propionate Market By Application (Food, Pharmaceuticals, Cosmetics, Agriculture, Animal Feed) - Growth, Future Prospects And Competitive Analysis, 2016 - 2023

Sodium propionate is the sodium salt of propionic acid, which is an organic acid formed during the chemical degradation of sugar. It come in white crystalline solid or powder forms, widely used chemical in the food industry. It helps to prevent the growth of mold and some bacteria, thus prolonging the shelf life of packaged foods. According, to the U.S. Food and Drug Administration FDA and The European Food Safety Authority (EFSA) sodium propionate is generally recognized as safe when used as a food additive.

The global market for sodium propionate is growing significantly on the back of rising demand from packaged food industry. Busy and changing lifestyle and rise in disposable income are some of the factors fuelling the market demand for packaged food. Furthermore, increasing awareness about the benefits of sodium propionate usage in animal feed and grain preservative is projected to propel the market demand. However, demand is likely to get affected owing to environmental concerns. Untapped and emerging economies provide huge market potential over the coming few years.

By application type the market is segmented into food, pharmaceutical, cosmetics, agriculture, animal feed and others. Sodium propionate is widely used to prevent mold growth in processed cheese and packaged products. In 2015, food segment dominated the overall market with a share of more than 30% in terms of demand. This segment is projected to maintain its dominance during the forecast period of 2016 to 2023. However, agriculture and animal feed segment is projected to be the fastest growing market over the forecast period.

By geography the market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). In 2015, North America and Europe together accounted for more than 60% share of the market. North America is projected to lose out some of its share to high growth regions such as Asia Pacific. Asia Pacific is projected to be the fastest growing market owing to rising demand from animal feed additives, food preservatives and pharmaceuticals industries.

Sodium Propionate Market

The report titled “Global Sodium Propionate Market - Growth, Future Prospects & Competitive Analysis, 2016 – 2023” offers strategic insights into the global Sodium Propionate market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on applications and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2015 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help the strategic decision makers, the report also includes profiles of the leading Sodium Propionate manufacturers, along with their, product portfolio and key developments. The major players profiled in the report are XX. Further, the report also covers market positioning of the key players operating in the Sodium Propionate market. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the Sodium Propionate industry
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2013 – 2014)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global Sodium Propionate market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

The global sodium propionate market can be categorized on the basis applications as:

  • Food
  • Pharmaceutical
  • Cosmetics
  • Agriculture
  • Animal Feed
  • Others

Sodium Propionate Market

In 2015, food application segment accounted for 32.4% share of the global market in terms of revenue. This segment is projected to maintain its dominance during the forecast period owing to rising demand from cheese and processed food products. Moreover, changing and busy lifestyle has propelled to prolong the shelf life of food products which will boost the food preservatives’ demand, including sodium propionate. In 2015, pharmaceutical segment was the second largest application segment and accounted for 21.1% share of the global demand and is projected to grow at a CAGR of over 4.2% from 2016 to 2023. However, rising awareness regarding the benefits of sodium propionate in  feed & grain preservatives segments is projected to propel the market demand for sodium propionate over the coming few years. 

On the basis of geography, the global sodium propionate market is segmented as per following regions and countries.

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • UK
    • Germany
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • Rest of Asia Pacific
  • Rest of the World (RoW)
  • Middle East and Africa
  • Latin America

In 2015, Europe was the largest regional market accounting for over 32% of global sodium propionate market demand. Rising demand from animal feed and food preservative applications has favored the market for sodium propionate in the region. The market is projected to maintain its dominance during the forecast period of 2016 to 2023 on account of expanding niche applications scope of sodium propionate and new supporting regulations. In 2015, North America accounted for over 25% of global demand but projected to lose out some of its share to high growth regions such as Asia Pacific.

Sodium Propionate Market

Asia Pacific region is projected to be the fastest growing market. It is projected to grow at a CAGR of 4.9% from 2016 to 2023 in terms of revenue. Asia Pacific is witnessing growth on the account of increasing feed additives industry in regions such as Australia, China and India. Moreover, the market is also characterized by rising demand from food and pharmaceuticals segments.

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Published Date:  Sep 2016
Category:  Food & Beverage
Report ID:   58108
Report Format:   PDF
Pages:   120
Rating:    4.2 (55)
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