Sodium Propionate Market Predicted to Reach US$ 108.3 Million at a CAGR of 7.8% by 2033

The global sodium propionate market is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2033, with a projected valuation of US$ 51.1 million in 2023, according to Fact.MR, a provider of competitive intelligence and market research. The demand for sodium propionate, a food preservative that is often used, is anticipated to remain strong in the foreseeable future.

It is anticipated that the food sector's baking industry will be the primary driver of this demand. However, the requirement to adhere to strict food safety and labeling regulations may have a short-term impact on the industry.

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9044

Increasing customer inclination towards natural and healthier products will affect sodium propionate's long-term demand. As consumer preferences change, manufacturers will actively look for alternatives that suit these tendencies. Furthermore, new preservatives or breakthroughs in food safety technologies will be developed as a result of scientific research advancements, which will eventually help the sodium propionate market grow.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

With a compound annual growth rate (CAGR) of 7.3%, the global sodium propionate market was valued at US$ 47.3 million in 2022.
The market is expected to grow at a 7.8% CAGR from 2023 to 2033, with a projected valuation of US$ 51.1 million in 2023.
Throughout the projected period (2023 to 2033), it is anticipated that the use of sodium propionate in the food industry would rise at a CAGR of 8.7%.
By the end of 2033, the US market is expected to grow to a size of US$ 41.5 million.

"Over the next several years, sodium propionate use is expected to rise due to the growing need for food safety and preservation methods," says a Fact.MR analyst.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐒𝐭𝐫𝐚𝐭𝐚𝐠𝐞𝐦𝐬

Prominent producers of sodium propionate are employing diverse tactics to attain a competitive advantage over their counterparts. Differentiating their sodium propionate solutions by adding distinctive features and customer-friendly formulations is one such tactic. In an effort to grow their customer base and boost sales, these businesses are also branching out into previously unexplored market categories and new geographic areas. In order to improve their product line, increase their market share, and obtain access to cutting-edge technology and distribution networks, they are also actively forging strategic alliances and purchasing other companies.

Macco Organiques unveiled a brand-new range of sodium propionate products in 2023 that are intended exclusively for usage in organic food products. In addition to directly addressing the rising demand for organic food products, this calculated decision strengthens Macco Organiques' position in this quickly developing industry.
The launch of this cutting-edge product line is a striking illustration of how businesses are extending their product lines in novel ways to cater to the shifting needs of the market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9044

North America's market was valued at US$ 21.3 million by the end of 2022, giving it a dominant position in the world market.

North America has always been a major player in this sector, with the US and Canada being the two biggest suppliers. These countries have developed food businesses that are marked by a strong supply and manufacturing base of sodium propionate. Processed and convenience foods have seen significant growth in the region's market, and sodium propionate is frequently used in these items to increase shelf life and preserve freshness.

North America is further unique in that it has strict laws governing food safety, requiring the use of safe and efficient preservatives such as sodium propionate. The demand for sodium propionate is driven by this regulatory structure, which guarantees its long-term importance.

Consumer concern over food safety has raised the need to closely examine ingredient labels. Even though consumers are becoming more and more interested in clean-label items, sodium propionate is still necessary in some situations when maintaining the product's shelf life is crucial.

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫

Fact.MR, in its new offering, presents an unbiased analysis of the sodium propionate market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study reveals essential insights based on end use (food, pharmaceuticals, personal care, agrochemicals, others) and key regions of the world (North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa).

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

𝐀𝐛𝐨𝐮𝐭 𝐅𝐚𝐜𝐭.𝐌𝐑

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.