Propionic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Propionic Acid Market is segmented by Application (Animal Feed and Food Preservatives, Calcium, Ammonium, and Sodium Salts, Cellulose Acetate Propionate, Herbicides, Plasticizers, and Other Applications), End-user Industry (Agriculture, Food and Beverage, Personal Care, Pharmaceutical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) and volume (kilo tons).

Propionic Acid Industry Overview

Propionic Acid Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Europe
CAGR: > 6 %

Major Players

Propionic Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Propionic Acid Market Analysis

The global propionic acid market is projected to register a CAGR of over 6% in terms of revenue during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in the first half of 2021. The rising awareness related to health among consumers has become the major factor hindering the demand for food preservatives. Additionally, as it is one of the major ingredients in food preservatives, propionic acid has also experienced a marginal decline in terms of demand, constraining the growth of the market.

  • Over the short term, one of the major factors driving the growth of the market studied is the increasing demand for grain preservatives and safe animal feed. The growing convenience food industry has also majorly contributed to the development of the market.
  • Propionic acid is also effective against molds or fungi and helps store grains in high-moisture spaces for more extended periods. The increasing feed demand and increase in awareness of grain preservation and safe animal feed declined to significantly boost the demand for propionic acid during the forecast period.
  • However, the detrimental effects of propionic acids on human health and environmental concerns regarding the use of pesticides are expected to hinder the market growth.
  • Propionate esters as an alternative for solvents may provide opportunities for market growth in the future.
  • Asia-Pacific is likely to witness the highest growth rate during the forecast period.

Propionic Acid Industry Segments

Propionic acid is a colorless liquid with a strong odor, which is miscible with water and a few organic solvents. The other names of propionic liquid include carboxylic acid, ethanecarboxylic acid, carboxyethane, and ethylformic acid. Propionic acid is a naturally occurring substance that can be used in essential oils as esters. The market is segmented based on application, end-user industry, and geography. By application, the market is segmented into animal feed and food preservatives, calcium, ammonium, sodium salts, cellulose acetate propionate, herbicides, plasticizers, and other applications (rubber products). By end-user industry, the market is segmented into agriculture, food and beverage, personal care, pharmaceutical, and other end-user industries. The report also covers the market size and forecasts for the propionic acid market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) and volume (kilo tons).

Animal Feed and Food Preservatives
Calcium, Ammonium, and Sodium Salts
Cellulose Acetate Propionate
Other Applications (Rubber Products)
End-user Industry
Food and Beverage
Personal Care
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Propionic Acid Market Trends

This section covers the major market trends shaping the Propionic Acid Market according to our research experts:

Growing Demand from the Agriculture Industry

  • Propionic acid is used as a preservative in animal feed and grain in the agriculture industry. It is also used to sanitize the surfaces where silage and grain are stored.
  • In addition to this, propionic acid is used as an anti-bacterial agent in water, which is used for drinking purposes by livestock. They are even sprayed into poultry litter to kill fungi and bacteria.
  • Furthermore, according to the OECD-FAO Agriculture Outlook 2020-2029, the livestock sector's growth would increase feed consumption. Maize, wheat, and protein meals are projected to account for 75% of total feed demand, with imports accounting for nearly 90% of total feed demand. This trend is the outcome of policies that favor the development of food crops over feed crops.
  • According to the published data by the Food and Agriculture Organization of the United States, feeding a world population of 9.1 billion people in 2050 would require raising food production by around 70%. In developing countries, food production is likely to get double by 2050.
  • Such positive growth factors are expected to drive the agriculture sector worldwide, which in turn, is expected to augment the consumption of propionic acid in the agriculture sector through the forecast period (2022-2027).
Propionic Acid Market : Revenue Share (%), by End-user Industry, Global, 2021

Europe to Dominate the Market

  • Germany is the major market for the food industry and the agriculture sector in the European region. Supported by the ongoing investments in the food industry, the market for propionic acid is likely to grow at a positive rate.
  • According to Cosmetics Europe, the European cosmetics and personal care market will be valued at EUR 76.7 billion in 2021. It is the largest market for cosmetic products in the world.
  • The largest national markets for cosmetics and personal care products within Europe are Germany (EUR 14 billion), France (EUR 11.5 billion), the United Kingdom (EUR 9.8 billion), Italy (EUR 9.7 billion), Spain (EUR 6.4 billion), and Poland (EUR 3.8 billion). Thus increased market for cosmetics in Europe is likely to boost the demand for propionic acid in the region.
  • Italy has around 4% of the workforce dedicated to the agriculture sector. The agriculture industry in the country contributes around 2% to its GDP. The production of chicken feed increased in recent years in the country.
  • On the other hand, the quality of Italy’s industrial and pharmaceutical systems has been a magnet for production activities previously carried out elsewhere in the world. In the last decade, production has increased by over 55% in terms of value and volume. Hence, it is likely to witness growth in the propionic acid market over the forecast period.
  • Such factors, in turn, boost the demand for the propionic acid market in various sectors.
Propionic Acid Market : Growth Rate by Region, 2022-2027

Propionic Acid Market Competitor Analysis

The propionic acid market is highly consolidated in nature. Some of the largest market players (in no particular order) include BASF SE, Dow, DAICEL CORPORATION, Eastman Chemical Company, and Perstorp.

Propionic Acid Market Top Players

  1. BASF SE

  2. Eastman Chemical Company

  3. Dow


  5. Perstorp

*Disclaimer: Major Players sorted in no particular order

Propionic Acid Market Concentration

Propionic Acid Market Recent Developments

  • In January 2021, Afyren, a biotechnology startup, started the construction of Afyren Neoxy, the first industrial-scale factory for green chemistry manufacture of organic acids, such as acetic acid, propionic acid, butyric acid, isobutyric acid, valeric acid, isovaleric acid, and hexanoic acid. This material has applications in cosmetics, perfumes, flavors, pharmaceuticals, and fine chemicals.

Propionic Acid Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Grain Preservatives and Safe Animal Feed

      2. 4.1.2 Growing Convenience Food Industry

      3. 4.1.3 Demand for CAP from the Down-stream Industry

    2. 4.2 Restraints

      1. 4.2.1 Detrimental Effects of Propionic Acid on Human Health

      2. 4.2.2 Environmental Concerns Regarding Use of Pesticides

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Application

      1. 5.1.1 Animal Feed and Food Preservatives

      2. 5.1.2 Calcium, Ammonium, and Sodium Salts

      3. 5.1.3 Cellulose Acetate Propionate

      4. 5.1.4 Herbicides

      5. 5.1.5 Plasticizers

      6. 5.1.6 Other Applications (Rubber Products)

    2. 5.2 End-user Industry

      1. 5.2.1 Agriculture

      2. 5.2.2 Food and Beverage

      3. 5.2.3 Personal Care

      4. 5.2.4 Pharmaceutical

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Argentina

        2. Brazil

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Celanese Corporation


      4. 6.4.4 Dow

      5. 6.4.5 Eastman Chemical Company

      6. 6.4.6 Hawkins Inc.

      7. 6.4.7 Macco Organiques Inc.

      8. 6.4.8 OQ Chemicals

      9. 6.4.9 Perstorp

      10. 6.4.10 Shanghai Jianbei Organic Chemical Co. Ltd

      11. 6.4.11 Yancheng Hongtai Bioengineering Co. Ltd

      12. 6.4.12 Yancheng Huade Biological Engineering Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Propionate Esters as an Alternative for Solvents

**Subject to Availability
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Propionic Acid Market Research FAQs

The Propionic Acid Market is studied from 2018 - 2028.

The Propionic Acid Market is growing at a CAGR of >6% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2018 - 2028.

Europe holds highest share in 2021.

BASF SE, Eastman Chemical Company, Dow, DAICEL CORPORATION, Perstorp are the major companies operating in Propionic Acid Market.

Propionic Acid Industry Reports

In-depth industry statistics and market share insights of the Propionic Acid sector for 2020, 2021, and 2022. The Propionic Acid research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Propionic Acid report PDF.

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