Global Sodium Propionate Market, 2015 - 2021

Global Sodium Propionate Market, 2015 - 2021
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Global Sodium Propionate Market Revenue
Expected to Reach US$ 44.7 Mn by 2021:
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Global Sodium Propionate Market, 2015 - 2021
Persistence Market Research Released New Market Report According to a new market report
published by Persistence Market Research “Global Market Study on Sodium
Propionate: Driven by Increasing Application of Antimicrobial Food
Preservatives”, the global sodium propionate market was valued at US$ 31.1 Mn in 2014.
Revenue is further expected to expand at a CAGR of 5.4% during the forecast period (2015 2021).
As sodium propionate is a chemical ingredient, it is included in the list of artificial
preservatives for food, which is a factor limiting its usage as a food ingredient in a variety of
edible products. However, it is an integral component in bakery items, meats and cheese,
and FDA as well as EFSA have recognized sodium propionate as a Generally Recognized As
Safe (GRAS) ingredient for use in food. Sodium propionate enhances the color of processed
meat and acts as a tenderizer, inhibits the growth of microorganisms, thus making it
increasingly shelf-stable.
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The global sodium propionate market is mainly driven by factors such as adoption of animal
feed additives in factory farming in order to increase production of milk, meat, and eggs,
increased consumption of meat and meat products coupled with growing disposable income
and increased spending on food, among others. Furthermore, the growth of the retail and
foodservice sectors in emerging countries has given rise to the demand for ready to eat
meat products, which in turn has increased uptake of food preservatives. As a result,
adoption of sodium propionate as an antimicrobial agent along with propionic acid is
expected to surge globally over the next five to six years.
In terms of revenue share contribution, North America is expected to dominate the global
sodium propionate market during the forecast period. However, Asia-Pacific market is
expected to record highest CAGR during this period. The market in Asia Pacific accounted for
US$ 6.3 Mn in 2014, which is expected to increase to US$ 9.4 Mn by 2021.
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Global Sodium Propionate Market, 2015 - 2021
Key players profiled in the global sodium propionate market report include Prathista
Industries Ltd., Fine Organic Industries Private Ltd., Niacet Corporation, Macco Organiques
Inc., Foodchem International Corporation, Tengzhou Tenglong Chemical Co. Ltd. and Dr. Paul
Lohmann GmbH KG.
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Market History:
Consumption of meat and meat products has increased substantially globally. The growth of
retail and foodservice sectors in emerging countries has resulted in the emergence of ready
to eat (RTE) meat products, which in turn has increased uptake of food preservatives. Also,
manufacturers have developed high-end technologies to produce sodium propionate in
forms that suit customer requirements. Intermediary manufacturers are experiencing
shrinking margins, which is resulting in increasing cost of end-use products.
The global sodium propionate market was valued at US$ 31.1 Mn in 2014, which is expected
to expand at a CAGR of 5.4% during the forecast period (2015–2021). The market is highly
volatile in nature, with the highest threat from substitutes due to supply-demand volatility.
Shortage of initial raw material ‘ethylene’ due to rising petroleum prices has disrupted
market dynamics to a major extent. In terms of volume, the market accounted for 18,547
tonnes in 2014, which is projected to reach 22,447 tonnes by 2021, exhibiting a CAGR of
3.0% during the forecast period.
The global sodium propionate market is segmented on the basis of application into food,
pharmaceuticals, agriculture & animal feed, cosmetics and others.
On the basis of region, the market is segmented into North America, South America, Europe,
Asia-Pacific and the Middle East & Africa. The sodium propionate market in Asia Pacific was
valued at US$ 6.3 Mn in 2014, which is expected to increase to US$ 9.4 Mn by 2021. The
market in Asia Pacific has very few small capacity producers of sodium propionate and the
region majorly depends on imports to meet demand. China and India are emerging as
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Global Sodium Propionate Market, 2015 - 2021
leading producers in the region and are targeting emerging markets of Southeast and South
Asia by providing cost-effective products.
Key players profiled in the global sodium propionate market report are Prathista Industries
Ltd., Fine Organic Industries Private Ltd., Niacet Corporation, Macco Organiques Inc.,
Foodchem International Corporation, Tengzhou Tenglong Chemical Co. Ltd., and Dr. Paul
Lohmann GmbH KG.
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