Propionic Acid Market Overview:
Propionic Acid market size will be further expanded, we expect that by 2022, the market size of the Propionic Acid will reach 810 million USD. An important factor in the growth of the market under consideration is the growing demand for grain preservatives and safe feed. The growth of the expanding convenience food industry has contributed significantly to the growth of the market.
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Organic acids such as propionic acid play an important role in the conservation of the grain. Fungi and mycotoxins cause liver problems, immunity problems and various other problems in animals. Organic acids, when mixed with cereals in small amounts, help prevent the growth of mycotoxins, which is very beneficial for animal health. Propionic acid also works against fungi and helps to store grain in places with high humidity longer time. Another beneficial property of propionic acid, especially in livestock, is the enhancement of protein digestion, which contributes to good growth and animal health. Demand for animal feed is growing steadily around the world due to population growth, leading to increased demand for food.
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Regional Presence in Propionic Acid Market:
In 2017, the European region dominated the world market share. With increasing investments in agriculture and the food industry in countries such as Russia, France and Germany, the demand for propionic acid in the region is increasing. The agricultural sector in Russia has actually increased the production of some foods since the ban. Food imports have fallen by nearly half from $ 43 billion to $ 25 billion in the past three years. In the same period, total agricultural production in Russia increased by 11%.
Some of the key Manufacturers covered in this Propionic Acid Market Report are:
BASF, Dow, Perstorp, Eastman, Daicel, Sasol, BASF-YPC, SINOPEC Qilu, Yancheng Huade, Yancheng Hongtai, Shanghai Jianbei
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