Press release
Sodium Propionate Market to Rise at 5.4% CAGR by 2021
In terms of revenue share contribution, North America is expected to dominate the global sodium propionate market during the forecast period. However, Asia-Pacific market is expected to record highest CAGR during this period. The market in Asia Pacific accounted for US$ 6.3 Mn in 2014, which is expected to increase to US$ 9.4 Mn by 2021.
According to the latest market report published by Persistence Market Research, titled “Global Market Study on Sodium Propionate: Driven by Increasing Application of Antimicrobial Food Preservatives”, the global sodium propionate market was valued at US$ 31.1 Mn in 2014. Revenue is further expected to expand at a CAGR of 5.4% during the forecast period (2015 - 2021).
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As sodium propionate is a chemical ingredient, it is included in the list of artificial preservatives for food, which is a factor limiting its usage as a food ingredient in a variety of edible products. However, it is an integral component in bakery items, meats and cheese, and FDA as well as EFSA have recognized sodium propionate as a Generally Recognized As Safe (GRAS) ingredient for use in food. Sodium propionate enhances the color of processed meat and acts as a tenderizer, inhibits the growth of microorganisms, thus making it increasingly shelf-stable.
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Key players profiled in the global sodium propionate market report include Prathista Industries Ltd., Fine Organic Industries Private Ltd., Niacet Corporation, Macco Organiques Inc., Foodchem International Corporation, Tengzhou Tenglong Chemical Co. Ltd. and Dr. Paul Lohmann GmbH KG.
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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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