Potassium Propionate Market Overview (2022 to 2032)
According to Future Market Insights research, during the projected period, the Potassium Propionate market is expected to grow at a CAGR of 4.20%. The market value is projected to increase from US$ 891.0 million in 2023 to US$ 1,344.4 million by 2033. The Potassium Propionate market was valued at US$ million at the end of 2021 and is anticipated to exhibit a CAGR growth of 4.0% from 2016 to 2021.
Market Size Value in 2023
US$ 891.0million
Market Forecast Value in 2033
US$ 1,344.4 million
Global Growth Rate (2023 to 2033)
4.20% CAGR
Forecast Period
2023 to 2033
CAGR of the United Kingdom in Europe
4.10%
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Introduction
Manufacturers are constantly concentrating their efforts on new innovations to meet consumer demand for high-tech ingredients as the food industry becomes more competitive. Food preservatives give producers a flexible base from which to expand their product lines. They are an essential part of food processing.
Preservatives come in both natural and artificial forms. In the few permissible quantities in food products, propionates are frequently used as preservatives.
Propionic acid's potassium salts are known as potassium propionates. Due to propionic acid being its active component, potassium propionate is a fatty acid preservative. To extend the shelf life of bakery products, potassium propionate is frequently used. The amount of potassium propionate that can be used in baked goods is 0.3%.
Potassium propionate is utilized as an anti-roping and anti-molding agent in addition to bakery products. In addition to being created chemically, potassium propionate can indeed be obtained naturally from food that has been fermented by bacteria, like Swiss cheese.
Comparing historical outlook and projections for the world's Potassium Propionate
A new report published by Future market insights, titled, Potassium Propionate Market-Global Opportunity Analysis and Industry Forecast, 2023 to 2033, projects the global Potassium Propionate market to reach US$ 1,344.4 million by 2033 and is expected to grow at a CAGR of 4.20% from 2023 to 2033.
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Country-wise Insights
What is the overview of the market of Potassium Propionate in the world?
The market for potassium propionate is dominated by North America. The usage of potassium propionate is anticipated to rise in North America with the increased intake of processed and frozen foods. Potassium propionate is expected to grow in popularity in the Asia-Pacific region. Australia is thought to hold a significant portion of the market in the Asia Pacific region due to its highest permissible limit for preservative use.
Providing a business opportunity for producers of potassium propionate. A large portion of the potassium propionate market is also produced in Europe due to the rising use of food preservatives.
What is the outlook of North America in the market of Potassium Propionate in the world?
Potassium propionate is a naturally-occurring preservative used to extend shelf life and reduce microbial spoiling in a variety of food products, from cheese to condiments. With the growing worldwide demand for food safety and quality control, the global market for potassium propionate is expected to expand significantly over the next decade. But what does this mean for North America?
As one of the largest markets for potassium propionate, North America stands to benefit greatly from its growing popularity. With its established infrastructure and access to large amounts of raw materials, many experts believe that North America may be able to gain a significant share in this highly competitive market. Furthermore, as more companies become aware of potassium propionate’s many benefits, they will likely begin utilizing it more frequently in their own products-leading to an even bigger uptake across the region.
Category-wise Insights
What are the Applications of Potassium Propionate in the food and beverage industry?
Consumers are gravitating toward convenient food options like processed and canned foods as a result of changing lifestyles. As a result, the market for potassium propionate as a food preservative is expected to grow. Potassium propionate's preservative qualities help extend food's shelf life and preserve its quality over an extended period of time.
The antimicrobial properties of potassium propionate prevent microorganisms from proliferating by delaying their acidification process. thereby avoiding food product contamination. Consequently, the market for potassium propionate has been expanding. In addition to having antimicrobial qualities, it also aids in preventing mold growth in animal feed.
Instead of stopping the growth of bacteria, potassium propionate works better at stopping the growth of fungi therefore, potassium propionate is regarded as the preferred option among bakery manufacturers. Potassium propionate is used as a raw material in the production of plastic and fragrances.
What are the restraints of Potassium propionate?
As consumers gravitate toward products made from natural sources. Given that potassium propionate is also accessible in synthetic form, this could impede the market growth. Additionally, artificial preservatives are linked to health risks. Additionally, potassium propionate has a number of negative side effects, including the potential to impair the immune and digestive systems as well as cause neurotoxicity in children when taken in large doses.
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Supermarket and Industrial Distributors Are Propelling the Growth Potassium Propionate in Market
The Potassium Propionate in the market is expected to grow at a CAGR of 4.20% during the forecast period of 2023 to 2033. The growth of potassium propionate in the market is being driven by both supermarket and industrial distributors. This chemical compound, also known as potassium salt, is used for a variety of applications including food preservation, pharmaceuticals, and animal feed. Potassium propionate has seen an increase in demand from supermarkets and industrial distributors due to its effectiveness as a preservative ingredient for a wide range of products such as bakery items, canned goods, meats, milk products, pet food, and other processed foods.
Industrial distributors have also been an important factor in the growth of the potassium propionate market due to their use in various industries ranging from textiles to paints and coatings. It can be used as an adhesive binder or stabilizer for paints or coatings which helps maintain color consistency during storage and transportation.
Potassium Propionate Market Report Scope
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2017 to 2023
Market Analysis
US$ million for Value and Units for Volume
Key Regions Covered
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
Key Countries Covered
USA
Canada
Mexico
Germany
United Kingdom
France
Italy
Spain
China
Japan
India
South Korea
Australia
Brazil
Argentina
South Africa
UAE
Key Segments Covered
By Application
By End-user
By Region
By Distribution Channel
Key Companies Profiled
Triveni Chemicals
Sigma-Aldrich Co.LLC.
A.M Food Chemical Co., Limited.
Aadhunik Industries
HJTEC International Limited
Tokyo Chemical Industry Co., Ltd. (TCI)
Report Coverage
Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Potassium Propionate Market segmentation
By End-user the Potassium Propionate Market is segmented as:
Food & Beverages
Animal Feed
Personal Care
Pesticides
Others
By Application, the Potassium Propionate Market is segmented as:
Food preservative
Mold inhibitor
Antimicrobial agents
Fungicides
Flavoring
By Region, the Potassium Propionate Market is segmented as:
North America
Latin America
Europe
Asia Pacific
Oceania
Middle East and Africa (MEA)
By Distribution channel, the Potassium Propionate Market is segmented as:
Convenience Store
Hypermarket/Supermarket
Online
Direct Selling
Frequently Asked Questions
What is the market Share value of Potassium Propionate in 2023?
The global Potassium Propionate market will reach a valuation of US$ 891.0 Million by the end of 2023.
What is the demand outlook forecast for the Potassium Propionate market?
The global Potassium Propionate market is forecasted to surpass US$ 1,344.4 million by the end of 2033.
Which are the major countries driving demand for Potassium Propionate Market?
The USA, Germany, Japan, China, India, Australia, and the United Kingdom are the major countries driving demand for Potassium Propionate Market.
What is the, USA Potassium Propionate Market Outlook?
The USA Potassium Propionate Market is contributing 34.40% of the total value share in the global market.
What is the, Germany Potassium Propionate Market Outlook?
The Germany Potassium Propionate Market is contributing 26.20% of total value share in global market.
What is the, Japan Potassium Propionate Market Outlook?
In Japan Potassium Propionate Market is contributing 7.50% of total market share which values in year 2023.
What is the, India Potassium Propionate Market Outlook?
In India Potassium Propionate Market is contributing 5.30% of CAGR for latest period.
What is the, China Potassium Propionate Market Outlook?
In China Potassium Propionate Market is contributing 4.60% of CAGR for latest period.
What is the, Australia Potassium Propionate Market Outlook?
In Australia Potassium Propionate Market is contributing 2.60% of total value share in global market.
