The Asia Pacific Propionic Acid Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 127.71 kilo tonnes, showcasing a growth of 3.6% (2019-2022).
Propionic acid, a versatile carboxylic acid, has witnessed a steady rise in demand across various industries, driven by its diverse applications and essential role in producing numerous products. With the chemical formula CH3CH2COOH, this organic acid naturally appears as a compound in various foods and animal digestive systems. However, its industrial significance extends far beyond its natural occurrence. This is widely used in the food industry as a preservative, specifically in preserving bakery products. Its antimicrobial properties inhibit mold and bacteria growth, extending the shelf life of bread, cakes, and other baked goods. This application has become increasingly crucial as consumers demand longer-lasting, fresher products with minimal chemical additives.
In agriculture, this is a key component in animal feed additives. Its antimicrobial properties aid in preventing the growth of harmful bacteria and molds in feed, thereby enhancing the overall quality and safety of animal nutrition. As livestock farming intensifies, the demand of it in this sector is expected to witness sustained growth. The chemical industry utilizes this to manufacture cellulose acetate propionate, a versatile thermoplastic. Due to its excellent film-forming and adhesion properties, CAP finds applications in coatings, adhesives, and various other industries. As the demand for high-performance coatings and specialty polymers rises, so does the demand of it as a precursor in CAP production.
Invest India reports that the food processing industry received a total of $12,354 billion in FDI between April 2000 and September 2023, representing 1.89 percent of the total FDI equity inflow. For fiscal year 2023, the food processing sector received an FDI equity inflow of $0.896 billion. 2025 the Indian food processing industry is estimated to reach $535 billion. It is commonly utilized as a preservative in bakery products, such as bread and other baked goods. The growth of the food processing sector in India, particularly in the bakery sector, contributes to the increased demand for this. The demand for extended shelf life in food products is a key driver for using preservatives. This helps inhibit the growth of molds and fungi, thereby expanding the shelf life of various processed foods, which is crucial for the Indian food processing industry. Due to the aforementioned factors the market growth will drive in this region.
The China market dominated the Asia Pacific Propionic Acid Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $117.9 Million by 2030. The Japan market is exhibiting a CAGR of 3.8% during (2023 - 2030). Additionally, The India market would experience a CAGR of 5.1% during (2023 - 2030).
Free Valuable Insights: The Global Propionic Acid Market is Predict to reach $ 1.7 Billion by 2030, at a CAGR of 3.7%
Based on Application, the market is segmented into Food Preservatives, Herbicides, Rubber Products, Plasticizers, and Others. Based on End-user, the market is segmented into Food & Beverages, Agriculture, Pharmaceuticals, Personal Care, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-user (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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