Europe Propionic Acid Market Insights Forecasts to 2033

• The Europe Propionic Acid Market Size was valued at USD 436.7 Million in 2023.
• The Market Size is Growing at a CAGR of 3.26% from 2023 to 2033
• The Europe Propionic Acid Market Size is Expected to Reach USD 601.8 Million by 2033

The Europe Propionic Acid Market Size is Anticipated to Reach USD 601.8 Million by 2033, Growing at a CAGR of 3.26% from 2023 to 2033

Market Overview

Propionic acid is a colorless, flammable, and corrosive organic acid with a sharp, rancid odor. As a short-chain fatty acid (SCFA), it has a carboxylic structure containing two to six carbon atoms. In the human body, propionate, a common SCFA, is produced by gut microbiota in response to indigestible carbohydrates. The European Food Safety Authority (EFSA) has confirmed that propionic acid is safe for consumers, the environment, and target species when used as a feed additive. However, it is corrosive to the skin, and exposure poses risks to users. In 2023, the top exporters of propionic acid, its salts, and esters were the European Union (valuing at $80,948.57K with 42,091,600 kg), the Netherlands ($61,078.69K with 37,100,900 kg), and Germany ($42,109.86K with 34,508,400 kg). The top importers in the same year included the European Union ($85,122.25K with 65,254,800 kg), the Netherlands ($63,263.30K with 58,010,300 kg), and Belgium ($32,729.77K). Furthermore, propionic acid is used as a preservative in animal feeds, including hay, corn, oats, wheat, sorghum, and barley, which is expected to drive market growth. It is also sprayed onto poultry litter to eliminate fungi and bacteria in poultry. Additionally, it can serve as an antibacterial agent when added to the water of poultry or livestock. These various applications are anticipated to boost the growth of the Europe propionic acid market.

Report Coverage

This research report categorizes the market for the Europe propionic acid based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe propionic acid market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe propionic acid market.

Driving Factors

The Europe propionic acid market is influenced by several key factors. These factors include the rising consumption of packaged foods, meat, poultry, and seafood, as well as an increasing demand for natural preservatives. Additionally, propionic acid is gaining traction in pharmaceutical formulations. The growth of the cosmetics and personal care industry in Europe also contributes to this rising demand. Western European countries, with their advanced industrial sectors, play a significant role in driving the market. Furthermore, consumers in these countries are highly aware of the benefits of propionic acid.

Restraining Factors

Several factors may restrain the growth of the propionic acid market in Europe. Growing environmental concerns regarding the use of herbicides and pesticides may limit market expansion. Additionally, a shortage of innovative product ideas could hinder industry growth. Propionic acid poses health risks, including nausea, vomiting, headaches, diarrhea, and abdominal pain. It can also severely irritate and burn the skin and eyes, potentially leading to permanent eye damage. Furthermore, a lack of production facilities may restrict market development.

Market Segmentation

The Europe propionic acid market share is classified into application and end-user.

• The rubber products segment is expected to hold the largest market share through the forecast period.

The Europe propionic acid market is segmented by application into herbicides, rubber products, plasticizers, food preservatives, and others. Among these, the rubber products segment is expected to hold the largest market share through the forecast period. Rubbers are among the most versatile materials utilized across various industries. Rubber products are increasingly in demand, particularly in sectors such as automotive, construction, industrial manufacturing, and polymer modification. Propionic acid serves as an important intermediate in rubber production. The automotive industry is driving a rise in the demand for rubber products due to their extensive applications. Consequently, the use of propionic acid in rubber manufacturing is contributing significantly to the growth of the Europe propionic acid market.

• The food & beverage segment is expected to dominate the Europe propionic acid market during the forecast period.

Based on the end-user, the Europe propionic acid market is divided into pharmaceuticals, personal care, food & beverage, agriculture, and others. Among these, the food & beverage segment is expected to dominate the Europe propionic acid market during the forecast period. The food and beverage segment is the largest contributor to the Europe propionic acid market. The rising use of propionic acid as a common food preservative in products such as bread, cakes, cheese, non-alcoholic beverages, jams, jellies, and other processed foods helps prevent the growth of mold and bacteria, thereby extending shelf life. This trend is expected to drive market growth. The European food and beverage industry is expanding rapidly due to strong economic growth and an increasing population.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations companies involved within the Europe propionic acid market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BASF SE
• Oxea GMBH
• DSM
• SternVitamin GmbH & Co. K.G.
• Adisseo
• The Dow Chemical Company
• Eastman Chemical Company
• PERSTORP ORGNR
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2022, for the first time, BASF is offering neopentyl glycol (NPG) and propionic acid (PA) with a cradle-to-gate product carbon footprint (PCF) of zero. Produced at BASF’s Ludwigshafen Verbund site in Germany, these products are available globally under the names “NPG ZeroPCF” and “PA ZeroPCF.” BASF achieves a zero PCF for both NPG and PA by using renewable raw materials in its unique Verbund production system, employing a biomass balance (BMB) approach. Additionally, for the production of NPG, BASF utilizes renewable energy.

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe Propionic Acid Market based on the below-mentioned segments:

Europe Propionic Acid Market, By Application

• Herbicides
• Rubber Products
• Plasticizers
• Food Preservatives
• Others

Europe Propionic Acid Market, By End-User

• Pharmaceuticals
• Personal Care
• Food & Beverage
• Agriculture
• Others