[Online Quarterly Update]Sodium Propionate global demand grew at a CAGR of 4.01% during 2015-2019 and is anticipated to achieve a healthy CAGR during the forecast period. Sodium Propionate is a natural organic acid which is widely used in food industry as a preservative, helps in preventing any sort of mold and bacterial growth on food products such as cheese, baked products, artificial food flavors etc. The persistent hike in demand for the food products with extended shelf life due to limited production and availability across the globe is propelling the demand for Sodium Propionate. It is also widely added to various packaged products such as the sports drinks as well as baked goods like breads to prevent them from mold infection. It is chemically synthesized worldwide by neutralizing propionic acid with sodium hydroxide.
Boosting demand for packaged and baked goods pulled by sudden outbreak of COVID-19 in 2020 across the globe is anticipated to have a positive impact on the demand of Sodium Propionate as it is utilized in an abundant amount in many products. Also, pharmaceutical and food, which is being regarded as the most leveraging sector in times of the pandemic fueled the Sodium Propionate demand in 2020. However, slower demand due to COVID-19 pandemic from other industries consuming Sodium Propionate such as cosmetics & personal care, and others caused a decline in demand as compared to the total demand in preceding year.
The surging demand of Sodium Propionate across pharma industry in oral pharmaceutical formulations is noted being an antimicrobial preservative including in the form of ointments and eye drops in recent years. This is anticipated to further fuel the demand for Sodium Propionate in the country since pharmaceutical sector experienced appreciable growth globally during the pandemic.
Sodium Propionate find applications in various other end user industries as well including agrochemicals, pharmaceuticals, animal feed etc. By region, North America holds a dominant share in overall market as of 2020 owing to presence of various leading producers in the region as well as enormous demand for baked products in countries like USA would drive the Sodium Propionate market during coming years. It is followed by Europe where rising demand from application sector was observed majorly food preservatives and feed additives in countries include France, United Kingdom and others. While the highest growth was anticipated in Asia-Pacific during the forecast period due to capacity expansions and emerging industries.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
•The primary objective of the study was to evaluate and forecast the Sodium Propionate capacity, production, demand, inventory, and demand–supply gap globally.
•To categorize Sodium Propionate demand based on Application, type, region and distribution channel.
•To identify major customers of Sodium Propionate globally.
•To evaluate and forecast Sodium Propionate pricing globally.
•To identify and profile major companies operating in the global Sodium Propionate market.
•To identify major news, deals and expansion plans in the global Sodium Propionate market.
Some of the major players operating in the global Sodium Propionate market are Dr. Paul Lohmann GmbH & Co. KGaA, Niacet Corporation, Macco Organiques Inc., Fine organic industries, Ltd, Foodchem International, Prathista Industries Ltd., DR. Paul Lohmann GmbH KG, Sigma-Aldrich, Inc., Rishi chemical works Pvt. Ltd., Titan biotech Limited, Toronto Research Chemicals Inc., Krishna chemicals and others.
To extract data for the global Sodium Propionate market, primary research surveys were conducted with Sodium Propionate manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Sodium Propionate market over the coming years.
ChemAnalyst calculated Sodium Propionate demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience
•Sodium Propionate manufacturers and other stakeholders
•Organizations, forums and alliances related to Sodium Propionate distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Sodium Propionate manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Sodium Propionate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Form
Granules, Powders
Market, by Application
Agrochemicals, Cosmetics and Personal Care, Food and Beverage, Animal Feed, Pharmaceuticals, Others
Market, by Distribution Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North America, APAC, Europe, MEA, South America
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12.8.4.Colombia Sodium Propionate Demand-Supply Scenario, 2015-2030, By Volume
12.8.4.1.Demand
12.8.4.2.Supply
12.8.4.3.Gap
12.8.5.Colombia Sodium Propionate Demand Outlook, 2015-2030, By Volume
12.8.5.1.By Application
12.8.5.2.By Form
12.8.5.3.By Sales Channel
12.8.5.4.By Company Share (At least top 3 companies’ market share)
12.8.5.5.By Region
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Which are the major drivers for growth in demand of Sodium Propionate?
Ans:
Rise in the consumption of food which drive the demand for food preservatives to increase overall shelf life of food products is the major driver for growth in the demand of Sodium Propionate.
Q2.
Which region holds the maximum demand share in the global Sodium Propionate market as of 2020?
Ans:
North America holds the major demand share of Sodium Propionate due to increasing disposable income and pharmaceutical industry are expected to drive the Sodium Propionate demand in the region.
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