Sodium Propionate Market: Overview
Sodium propionate is an organic acid that either exist in the natural form or produced during the chemical degradation of sugar. It is the salt of propionic acid whose chemical formula is C3H5NaO2. Sodium propionate is hygroscopic in nature. It is a white or colorless salt in the form of granular crystalline powder or transparent crystals. Sodium propionate is soluble in water and alcohol. It is recognized as a food ingredient by FDA and primarily used for food preservation and flavoring. Sodium propionate is widely used in baked goods, processed meats, dairy products, soft drinks, and alcoholic drinks.
Sodium Propionate Market: Trends & Demands
Increase in demand for sodium propionate from food and pharmaceutical industries drives the global market. It is used as a food preservative in baked and processed food to curtail the growth of mold and other bacteria. Demand for sodium propionate from the food industry is anticipated to increase in the next few years, as it is employed in processed and baked foods to enhance flavor and shelf life of the product. It is used as a medical drug for treating fungi and bacteria, which causes common ocular infections, and prevents side effects such as allergies or sensitivities. Furthermore, advancements in sodium propionate-based medical practices to treat patients with lids, conjunctiva, and cornea infections is projected to create lucrative opportunities in the global sodium propionate market. Furthermore, increase in usage of sodium propionate in cosmetics & personal care and agrochemical industries is expected to drive the global sodium propionate market during the forecast period.
Sodium Propionate Market: Key Segments
Based on form, the global sodium propionate market can be segmented into granules and powders. The granules segment held a large share of the market in 2017. Demand for sodium propionate granules in the bakery & confectionary industry is expected to rise in the near future owing to its mold inhibiting properties.
In terms of end-use industry, the sodium propionate market can be classified into food, animal feed, pharmaceuticals, cosmetics & personal care, agrochemicals, and others. The food segment accounts for a significant share of the global sodium propionate market. Sodium propionate is primarily employed in creams, ointments, foams, lotions, and gels. It is widely used as a food additive in bakery products, blue cheese, breads & buns, cakes & pies, cheese & cheese products, cured meat products, dried meat, firm & hard cheese, fresh processed meat products, meat & meat products, pastries & donuts, processed & American style cheese, raw (dry) fermented sausages, raw-cooked & pre-cooked products, soft & semi-soft cheese, and tortillas.
Sodium Propionate Market: Regional Outlook
Based on region, the global sodium propionate market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America accounted for a major share of the global sodium propionate market in 2017 due to presence of a large number of processed food manufacturers in the region. The sodium propionate market in Europe is anticipated to expand at a rapid pace during the forecast period owing to rise in capital investments in the food industry across countries such as Italy, France, and the U.K. Production capacity expansions by manufacturers of food preservatives in China and India are likely to boost exports of sodium propionate to the countries in Europe in the next few years. Furthermore, Asia Pacific held a significant share of the global market in 2017 due to the increase in demand for sodium propionate in agriculture and pharmaceutical industries in this region.
Sodium Propionate Market: Key Players
Key players operating in the global sodium propionate market include Dow Chemicals Company, DR. Paul Lohmann GmbH KG, Fine organic industries, Ltd, Foodchem International, Jainex Specialty Chemicals, Krishna chemicals, Macco Organiques Inc., Niacet Corporation, Prathista Industries Ltd, Rishi chemical works Pvt. Ltd., Titan biotech Limited, and Toronto Research Chemicals Inc. These players focus on their core competencies of delivering their products through effective distribution channels.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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