Sodium Propionate Market Size, Share, Growth, and Industry Analysis, By Type (Food Grade and Pharmaceutical Grade), By Application (Food Industry, Pharmaceutical Industry and Others), Regional Forecast By 2031

Updated On: 22 April 2024

Sodium Propionate Market Report Overview

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The global sodium propionate market size was USD123.6 million in 2022, as per our research, the market is expected to reach USD 185.17 million in 2031, exhibiting a CAGR of 4.6 % during the forecast period. 

The COVID-19 pandemic has been staggering and unprecedented, with the sodium propionate market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand during the pandemic.

The sodium propionate market refers to the global industry that manufactures, distributes, and consumes sodium propionate, a food ingredient and preservative. Sodium propionate is the sodium salt of propionic acid and is widely used in the food and beverage industries to inhibit mold and bacteria growth in a variety of food items.

Sodium propionate is generally used in baked foods, dairy products, meat, and poultry as a preservative. It contributes to the extension of the shelf life of these products by suppressing the growth of germs, assuring their safety and freshness. Sodium propionate's antibacterial qualities make it an effective tool for preventing food spoilage and maintaining product quality.

COVID-19 Impact: Pandemic has had a mixed impact on the market 

The sodium propionate market has experienced some impact from the COVID-19 pandemic. The pandemic has disrupted supply chains and led to temporary closures of food processing plants and restaurants, affecting the demand for sodium propionate. Additionally, the economic uncertainties caused by the pandemic have led to changes in consumer buying behaviour, with a shift towards essential food items. However, as the global food industry gradually recovers and adapts to new normalcy, the demand for sodium propionate is expected to regain momentum, driven by the need for food preservation and safety measures in the post-pandemic era.

Latest Trends

Growing demand for clean label and natural food preservatives to contribute in market growth

The growing desire for clean labels and natural food preservatives is one of the most recent developments in the sodium propionate industry. Consumers are increasingly looking for food goods with little additives and preservatives, choosing natural and clean label options. To accommodate evolving consumer tastes, producers are concentrating on creating sodium propionate sourced from natural sources or giving clean label alternatives. This trend towards natural and clean label components is projected to shape the sodium propionate market over the next few years.

Sodium Propionate Market Segmentation

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• By Type Analysis

According to type, the sodium propionate market can be segmented into food grade and pharmaceutical grade.

• By Application Analysis

Based on application, the market can be divided into Food industry, pharmaceutical industry and others.

 Driving Factors

"Food safety and shelf life extension to contribute in market growth"

The requirement for food safety and shelf life extension is one of the primary driving reasons for the sodium propionate market. Sodium propionate is commonly used as a preservative in a variety of food goods to suppress mold and bacteria growth, hence reducing food spoiling and preserving product freshness. With rising concerns about foodborne illnesses and a need for extended shelf life, food manufacturers are integrating sodium propionate into their products to maintain the safety and quality of their products.

"Growing processed food business to boost market demand "

The growing processed food business is generating up demand for sodium propionate. The demand for processed and packaged meals has increased as consumers' lifestyles have gotten busier and more convenience-oriented. Sodium propionate is widely used in baked goods, dairy products, pork, and poultry, all of which are popular processed foods. The expansion of the processed food sector, particularly in emerging markets, is driving up demand for sodium propionate as a preservative.

Restraining Factors

"Increasing consumer preference for natural and clean label ingredients to restrict market demand"

The growing customer preference for natural and clean label components is one of the market restraints for sodium propionate. Consumers are growing increasingly concerned about the substances in their food products as their understanding of health and wellbeing grows. As a result, customer preferences have shifted towards natural preservatives and away from synthetic additions like sodium propionate. Manufacturers are under pressure to produce clean label alternatives, which could stymie the sodium propionate sodium propionate market growth.

Sodium Propionate Market Regional Insights

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"Well-established food processing industries and stringent food safety regulations to assist North America and Europe to lead the market"

Demand and consumption patterns in the sodium propionate market vary by region. North America and Europe are market leaders, owing to well-established food processing sectors and strong food safety standards. The Asia Pacific region is seeing rapid expansion as a result of the expanding processed food sector, rising population, and changing consumer lifestyles. Furthermore, as the food industry develops and customers seek safer and longer-lasting food items, rising nations in Latin America and the Middle East are seeing an increase in demand for sodium propionate. Africa, despite being a relatively small market, has the potential for future growth due to rising urbanisation and shifting nutritional preferences.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Niacet, Macco Organiques, Prathista Industries, Fine Organics, Shandong Tongtaiweirun Chemical, Qingdao Jiutai Biotechnology, Tengzhou Zhongzheng Chemical, Tenglong Company, Qingdao Dawei Biological Engineering, Lianyungang Shuren Kechuang Food Additive, Shanghai Huamei Food Additives and ALCHEMY.

Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over sodium propionate market share by the key players stimulates the market growth.

List of Market Players Profiled

• Niacet - Niagara Falls, New York, United States
• Macco Organiques - Montreal, Quebec, Canada
• Prathista Industries - Hyderabad, Telangana, India
• Fine Organics - Mumbai, Maharashtra, India
• Shandong Tongtaiweirun Chemical - Zibo, Shandong, China
• Qingdao Jiutai Biotechnology - Qingdao, Shandong, China
• Tengzhou Zhongzheng Chemical - Tengzhou, Shandong, China
• Tenglong Company - Anqiu, Shandong, China
• Qingdao Dawei Biological Engineering - Qingdao, Shandong, China
• Lianyungang Shuren Kechuang Food Additive - Lianyungang, Jiangsu, China
• Shanghai Huamei Food Additives - Shanghai, China
• ALCHEMY - Headquartered in multiple locations, primarily in the United States and the Netherlands.

 Report Coverage

This report examines an understanding of the sodium propionate market size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.