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. The worldwide sodium propionate market was valued at US$ 122.60 Mn in 2021.

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 2020, 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 2023 to 2030. 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 2020, 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.

The report titled “Global Sodium Propionate Market - Growth, Future Prospects & Competitive Analysis, 2023 – 2030” offers strategic insights into the global Sodium Propionate market along with the market size and estimates for the duration 2020 to 2030. 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 2021 & 2030. 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. Further, the report also covers the 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 (2020 – 2021)
• 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 2023 to 2030, keeping in mind the above-mentioned factors.

In 2020, 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, including sodium propionate. In 2020, 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 2023 to 2030. 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. 

In 2020, 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 2023 to 2030 on account of expanding niche applications scope of sodium propionate and new supporting regulations. In 2020, 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.

Asia Pacific region is projected to be the fastest growing market. It is projected to grow at a CAGR of 4.9% from 2023 to 2030 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 pharmaceutical segments.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Sodium Propionate market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Sodium Propionate market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Sodium Propionate market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Sodium Propionate market?
• Which is the largest regional market for Sodium Propionate market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Sodium Propionate market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Sodium Propionate market worldwide?