Global Propionic Acid Market Size & Outlook, 2023-2030
The propionic acid industry worldwide is expected to reach a projected revenue of US$ 1,402.3 million by 2030. A compound annual growth rate of 3.4% is expected of the worldwide propionic acid industry from 2024 to 2030.
Revenue, 2023 (US$M)
$1,113.4
Forecast, 2030 (US$M)
$1,402.3
CAGR, 2024 - 2030
3.4%
Report Coverage
Worldwide
Global propionic acid market, 2018-2030 (US$M)
Global propionic acid market highlights
- The global propionic acid market generated a revenue of USD 1,113.4 million in 2023 and is expected to reach USD 1,402.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 3.4% by 2030.
- In terms of segment, animal feed accounted for a revenue of USD 1,113.4 million in 2023.
- Animal feed is the most lucrative form segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 1,113.4 million |
| Market revenue in 2030 | USD 1,402.3 million |
| Growth rate | 3.4% (CAGR from 2023 to 2030) |
| Largest segment | Animal feed |
| Fastest growing segment | Animal feed |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Animal feed |
Other key industry trends
- In terms of revenue, the North America accounted for 28.9% of the global propionic acid market in 2023.
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Propionic Acid Market Scope
Propionic acid market segmentation & scope
Countries
U.S.
Mexico
Canada
UK
Germany
Italy
France
China
India
Japan
Brazil
Argentina
Saudi Arabia
South Africa
Propionic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global propionic acid market size, by regions, 2018-2030 (US$M)
Related regional statistics
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