The global sodium propionate market was valued at US$ 31.1 Mn in 2014, which is expected to expand at a CAGR of 5.4% during the forecast period (2015–2021).
New York, NY -- (SBWIRE) -- 03/03/2016 -- 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).
Consumption of meat and meat products has increased substantially globally. The growth of retail and foodservice sectors in emerging countries has resulted in the emergence of ready to eat (RTE) meat products, which in turn has increased uptake of food preservatives. Also, manufacturers have developed high-end technologies to produce sodium propionate in forms that suit customer requirements. Intermediary manufacturers are experiencing shrinking margins, which is resulting in increasing cost of end-use products.
The global sodium propionate market was valued at US$ 31.1 Mn in 2014, which is expected to expand at a CAGR of 5.4% during the forecast period (2015–2021). The market is highly volatile in nature, with the highest threat from substitutes due to supply-demand volatility. Shortage of initial raw material 'ethylene' due to rising petroleum prices has disrupted market dynamics to a major extent. In terms of volume, the market accounted for 18,547 tonnes in 2014, which is projected to reach 22,447 tonnes by 2021, exhibiting a CAGR of 3.0% during the forecast period.
The global sodium propionate market is segmented on the basis of application into food, pharmaceuticals, agriculture & animal feed, cosmetics and others.
Interested in report: Please follow the below the links to meet your requirements; Request for the Report Sample: http://www.persistencemarketresearch.com/samples/4605
On the basis of region, the market is segmented into North America, South America, Europe, Asia-Pacific and the Middle East & Africa. The sodium propionate market in Asia Pacific was valued at US$ 6.3 Mn in 2014, which is expected to increase to US$ 9.4 Mn by 2021. The market in Asia Pacific has very few small capacity producers of sodium propionate and the region majorly depends on imports to meet demand. China and India are emerging as leading producers in the region and are targeting emerging markets of Southeast and South Asia by providing cost-effective products.
View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/4605
Key players profiled in the global sodium propionate market report are 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.
For more Info: http://www.persistencemarketresearch.com/contact-us.asp
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.