According to ChemAnalyst report, “Sodium Propionate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, Sodium Propionate market grew at a considerable CAGR of 4.01% in the last five years and is anticipated to achieve a healthy CAGR during the forecast period 2020-2030. An exponential surge in the demand of Sodium Propionate as food preservatives by the food and beverage industry is likely to boost the growth of global Sodium Propionate market in upcoming years. The production of Sodium Propionate is highly associated with the safety standards on human health before it can be introduced in the market which further enhances the compliance standards.
Sodium Propionate (C3H5NaO) also known as Sodium propanoate is an organic salt of propionic acid that comprises of equal numbers of sodium and propionate ions. It plays a huge role as an antifungal drug and a food preservative. It basically inhibits the growth of lactic acid bacteria thus preventing the food from getting rotten. Sodium Propionate is synthesized chemically by neutralizing propionic acid with sodium hydroxide. Due to its properties, it is extensively used in baked items, processed meats, dairy products, soft drinks, alcoholic beverages, and others. Surging demand for sodium propionate from food and pharmaceutical industries is driving the global market of Sodium Propionate across the globe. According to the US Food and Drug Administration (FDA), it is recognized as a safe food ingredient by FDA.
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The demand for Sodium Propionate from the food industry is expected to rise in upcoming years, due to ever-changing consumer preference and taste for enhanced flavors and shelf life of baked and frozen foods. In the medical and healthcare sector, rising demand of Sodium Propionate for the production of medical drugs to treat fungal and bacterial infections is likely to augment the growth of Sodium Propionate market over the next few years. Furthermore, increased use of Sodium Propionate in cosmetics, personal care, agrochemical and other industries is expected to boost the global sodium propionate market until 2030.
Global Sodium Propionate Market is segmented based on form, application, distribution channel and region. Based on different forms, the Global Sodium Propionate market is segmented into granules and Powders. Among which, the granules segment is holding a larger share in the global market. On the basis of application, the market is segregated into Cosmetics and Personal Care, Agrochemicals, Food and Beverage, Animal Feed, Pharmaceuticals, and Others. The Food and beverage segment dominates the global Sodium Propionate market as it is widely used as a food additive and preservative in bakery products like blue cheese, breads, buns, cakes et., cured; meat products, dried meat and other processed foods.
In the first half of 2020, several industries witnessed an unprecedented fall due to the lockdowns and restrictions by the government in order to stop the coronavirus from spreading. However, there was a boost in the demand for packaged and baked goods pulled by sudden outbreak of COVID-19 across the globe is expected to have a positive impact on the demand of Sodium Propionate as it is utilized in numerous products. Also, pharmaceutical and food industries fuelled the demand of Sodium Propionate during the covid times.
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Region wise, North America Region dominated the global Sodium Propionate market in 2020, due to the presence of various leading producers in the region as well as exponential demand for baked products in countries like US that would further drive the Sodium Propionate market during coming years. Followed by Europe, where the demand of Sodium Propionate from food preservatives and food additives sector was observed in countries include France, United Kingdom and others. Furthermore, Asia Pacific region is expected to dominate the global Sodium Propionate market in the next ten years due to the expansion of industries and capacities.
Some of the major players operating in Sodium Propionate market include Dr. Paul Lohmann GmbH & Co. KGaA, Niacet Corporation, Macco Organiques Inc., Fine organic industries, Ltd, Prathista Industries Ltd., DR. Paul Lohmann GmbH KG, Sigma-Aldrich, Inc., Toronto Research Chemicals Inc., Rishi chemical works Pvt. Ltd., Titan biotech Limited, , Foodchem International, Toronto Research Chemicals Inc., Krishna chemicals, and Others.
“Rising demand of Sodium Propionate by the food and beverage industry in order to provide protection, flavor and shelf life to frozen, baked and processed food is anticipated to dominate the Sodium Propionate market across the globe over the next ten years. Bakery and confectionary industry are dominating the Sodium Propionate market and is expected to maintain its dominance in the future as well. Increasing demand of Sodium Propionate by the pharmaceutical industry for the treatments of various infections is also likely to provide opportunities for the growth of the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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