By application, the global sodium propionate market is segmented into food, pharmaceuticals, agriculture & animal feed, cosmetics and others. Of these, the food segment accounted for US$ 26.1 Mn in 2014 and is expected to dominate the market in terms of revenue over the forecast period.
The packaged food market is growing rapidly and demand for sodium propionate as an antimicrobial to extend the shelf life of food products is expected to increase significantly in the near future. Sodium propionate is mainly used in oral pharmaceutical formulations as an antimicrobial preservative and fungal treatment ointment to treat skin diseases. Propionic acid is widely used as a food and feed preservative; however, for best results, a blend of propionic acid and sodium propionate is used along with formic and lactic acid.
Regions covered in the report include:
The Middle East & Africa
To arrive at market size, the report considers the market value of sodium propionate across the aforementioned geographies. The forecast presented here assesses the total revenue generated by the global sodium propionate market. When developing the market forecast, the starting point involves sizing the current market, which forms the basis for the forecast regarding how the market is anticipated to shape up in the near future. For this, PMR sought inputs from several subject matter experts in the sodium propionate domain. Given the characteristics of the market, we triangulated the outcome on the basis of supply side, demand side and dynamics of the market.
We have also taken into consideration year-on-year growth based on regional growth analysis to understand predictability of the market and to identify right opportunities in the global sodium propionate market. All the segments have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments' relative contribution to market growth. This detailed level of information is important for identification of various key trends in the global sodium propionate market. Also, another key feature of this report is the analysis of the global sodium propionate market by region, which is further segmented on the basis of countries and revenue forecast in terms of absolute dollar opportunity.
In the final section of the report, the global sodium propionate market landscape is included to provide report audiences a dashboard view based on categories of providers in the global market; their key developments and strategies have also been included wherever possible. Key players profiled in this report include Prathista Industries Ltd., Fine Organic Industries Private Ltd., Niacet Corporation, Macco Organiques Inc., Foodchem International Corporation, Tengzhou Tenglong Chemical Co. Ltd. and Dr. Paul Lohmann GmbH KG.
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