Sodium Propionate Market Segmented By Bakery Products, Cheese and Cheese Products, Meat and Meat Products, Bread and Buns, Cake and Pies, Tortillas, Pastries and Donuts
Industry: Food and Beverages
Published Date: September-2018
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 220
Report ID: PMRREP4605
Sodium propionate is a salt of propionic acid, well known for its anti-mold activity. Sodium propionate is categorized as GRAS by the U.S. FDA, and is used for various applications, globally. The ease of availability and economic price point, coupled with the efficacy of sodium propionate, has popularized its use in multiple segments.
On the basis of application, the sodium propionate market is segmented as bakery products, meat and meat products, cheese & cheese products, pharmaceuticals, personal care and agrochemicals, and others.
In terms of volume, the bakery products segment constitutes a much larger share in the sodium propionate market than any other segment. The increased per capita expenditure on food, owing to the rise in disposable income in multiple developing countries, is surging the demand for sodium propionate.
Customer demand is focused on the quality and longevity of the products that they buy. Therefore, artificial GRAS preservatives have become an integral part of the bakery industry. Sodium propionate, being recognized as GRAS by the FDA, and being an economically feasible and safe option for all manufacturers, has become the go-to preservative for bakery products. Furthermore, the demand for bakery products has been on a constant rise from matured markets such as North America and Europe as well. Sodium propionate is an integral component of modern bakery products.
The growing demand for sodium propionate in the agricultural and animal feed segment is fueled by the growing awareness amongst the agricultural community for sustainable grain collection and preservation methods.
The growth in the demand for sodium propionate in agrochemicals is also highly attributed to the growing demand for high quality animal and meat products. Public awareness towards the ethical production of animal products has surged the demand for high quality animal feed and feed additives such as sodium propionate.
In terms of value, the global sodium propionate market is expected to represent an incremental opportunity of 15.88 Mn by 2026 end. By application, the bakery products segment is expected to register a CAGR of 3.8 % in the sodium propionate market. The Middle East & Africa region is expected to register relatively low growth in the sodium propionate market, due to the low prevalence of processed foods.
Listeria monocytogenes is a food-borne pathogen, notorious for its tendency to contaminate meat and meat products. To ward off the pathogen and produce a safe product, manufacturers have been using sodium propionate as an artificial preservative.
The economic feasibility and efficacy of sodium propionate as a mould inhibitor as well as bactericidal agent makes it the perfect contender for an integral food preservative in the meat industry. With the rising demand for quality meat products, and stricter food safety legislations in multiple regions, the demand for sodium propionate in the market is growing.
An increase in disposable income, globally, has led to reformed consumer preferences. Per capita expenditure on food and beverages has increased in developing as well as developed countries. The fast food and dine out culture is on an exponential rise in developing regions such as APAC and Latin America, driving the sodium propionate market forward.
A rise in the demand for clean label products has been proving to be a hurdle for the global sodium propionate market. Sodium propionate, being an artificial preservative, cannot be used in clean label products. With more manufacturers opting for producing clean label products, due to rising consumer demand, the demand for sodium propionate is declining.
On the basis of region, the market in North America is anticipated to dominate the global sodium propionate market through 2026. North America is expected to gain significant market share in revenue terms by 2026 end. Moreover, the U.S. is projected to exhibit a significant CAGR during the forecast period in the sodium propionate market.
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