The new report by Expert Market Research titled, ‘Global Sodium Propionate Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global sodium propionate market, assessing the market based on its segments like forms, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 3.5%
The market for sodium propionate is supported by the significant growth in regions like North America and Europe. North America is a major region for the sodium propionate industry and is aided by the presence of numerous key players in the region. In Europe, the market is spurred by the increasing capital investments, particularly in the food industry across countries like France, Italy, and the United Kingdom. The sodium propionate industry is propelled by the rising demand from the application sectors, such as food preservatives, feed additives, and the pharmaceutical sector.
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Industry Definition and Major Segments
Sodium propionate, a natural organic acid, is formed over the chemical cycle of sugar degradation. It is the sodium salt of propionic acid, which is hygroscopic in nature. The salt has a granular texture and has white or colourless crystal-clear, or translucent crystals. It has been recognised by the FDA and is mainly used to preserve and flavour foods. Sodium propionate is widely used in foods, milk, baked goods, soft drink, and alcoholic drinks.
By form, the market can be divided into the following:
Based on application, the market can be divided into:
• Cosmetics and Personal Care
• Food and Beverage
• Animal Feed
The regional markets for sodium propionate can be divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The sodium propionate industry is being driven by the rising demand from the food and pharmaceutical sectors. The usage of sodium propionate helps prevent the formation of mould and other bacteria, particularly in baked and processed foods. The demand for sodium propionate is expected to accelerate in the food sector due to the demand for the enhancement of the product’s flavour and shelf-life. Moreover, technological advancements in sodium propionate in the medical field are expected to treat patients with conjunctiva, lids, and corneal infection, thus, propelling the market growth of the sodium propionate over the forecast period.
Key Market Players
The major players in the market are Fine Organics Industries Pvt. Ltd. (NSE: FINEORG), Dr. Paul Lohmann GmbH & Co. KGaA, Jainex Specialty Chemicals, Titan Biotech Ltd (BOM: 524717), and Qingdao Jiutai Biotechnology Co.,Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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