San Francisco, California, August 18, 2017: A recently added report by TMR Research, titled, “Sodium Propionate Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” sheds light on important aspects of the market such as its size, competitive dynamics, and growth prospects.
Sodium propionate, manufactured commercially via the reaction between sodium compounds, namely sodium carbonate or sodium hydroxide with propionic acid, is a three-carbon organic salt that is an excellent antimicrobial additive. It is highly toxic for certain bacteria as well as molds. As a result of such properties, sodium propionate plays an important role in the food and beverages market, worldwide. Sodium propionate aids in making packaged food safer and healthy to consume.
At the forefront of driving growth in the global sodium propionate market, is of course, the booming packaged food market, especially in developing nations of the world. The growing pool of urban consumers are the drivers of demand for packaged food as they are hard-pressed for time mostly. Further, the swift growth of the fast food industry, both in the developed and developing nations, has upped demand for sodium propionate, globally. A burgeoning canned foods market for meat and vegetables has proven beneficial to the sodium propionate market as well.
Sodium propionate finds widespread application in animal feed as an antimicrobial additive. With an ever-expanding market for meat and dairy, the demand for sodium propionate will also be boosted. The steady growth of the bakery sector, globally, is another important growth driver for bread and other bakery products are highly susceptible to microbial attacks.
The global market for sodium propionate is highly volatile in nature and substitutes pose a big threat. Shortage of initial raw material ‘ethylene’ on account of increasing petroleum prices has also served to disrupt the market dynamics.
Geographically, the key segments of the market for sodium propionate are Europe, North America, Asia Pacific, and the Rest of the World. North America, among them, is a crucial market on account of the robust demand resulting from the changing lifestyle of people, explosive growth in the food industry, and the rising number of patisseries in the region. Europe trails North America vis-à-vis demand for sodium propionate, because of a fast-expanding food industry, particularly in Spain and Italy.
Asia Pacific is another lucrative market owing to the exponential rise in demand for sodium propionate, rising from a changing lifestyle, increasing spending capacity of people in India and China and a growing bakery and food industry.
Some of the prominent participants in the global sodium propionate market are Arkema SA, Dow Chemicals Company, Imperial Chemical Industry, BASF AG, and Elementis PLC.
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